CA SB666

Prohibits covered entities (providers and brokers of commercial financing) from charging fees for automated clearinghouse payment processing, payoff statements, collateral monitoring (except after 60+ days delinquency), and unclear fees beyond origination fees when dealing with small businesses or small business owners.

Limits fees for filing or terminating liens to no more than 150 percent of actual filing or termination costs.

Entitles recipients to actual damages, statutory damages of $500-$2,500, injunctive relief, and attorney's fees if a covered entity violates these provisions.

Applies to commercial financing transactions of $500,000 or less with small businesses defined as independently owned California businesses with 100 or fewer employees and average annual gross receipts of $15 million or less over three years.

Does not apply to depository institutions, farm lenders, real property-secured transactions, dealers, vehicle rental companies, or persons making five or fewer incidental commercial financing transactions annually.