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CA AB2017

Bill

Official Source

Status

Passed

9/24/2024

Primary Sponsor

Tim Grayson

Click for details

Origin

State Assembly

2023-2024 Session

AI Summary

  • Prohibits banks and credit unions under the commissioner's examination authority from charging nonsufficient funds fees when a transaction is declined instantaneously or near instantaneously due to insufficient funds
  • Applies to transactions where consumers' attempts are declined immediately by the bank or credit union due to lack of available funds
  • Adds Chapter 5.5 to Division 1 of the Financial Code, effective September 24, 2024
  • Does not require any state appropriation

Legislative Description

Banks and credit unions: nonsufficient funds fees.

Last Action

Chaptered by Secretary of State - Chapter 509, Statutes of 2024.

9/24/2024

Committee Referrals

Appropriations6/26/2024
Judiciary6/20/2024
Banking and Financial Institutions5/29/2024
Rules5/16/2024
Appropriations4/16/2024
Banking and Finance3/18/2024

Full Bill Text

No bill text available