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CA AB2425

Bill

Official Source

Status

Introduced

2/20/2026

Primary Sponsor

Phillip Chen

Click for details

Origin

State Assembly

2025-2026 Regular Session

AI Summary

  • Requires the Commissioner of Financial Protection and Innovation to annually submit a report to the Legislature detailing the budget and accounting for oversight, implementation, and enforcement of the Escrow Law
  • Amends Section 17208 of the Financial Code to add this new reporting requirement
  • Maintains existing requirement that all fees and assessments collected from escrow agents be paid into the State Corporations Fund
  • Updates gendered language in the code from "him or her" to "the commissioner"
  • Introduced by Assembly Member Chen on February 20, 2026; requires majority vote and fiscal committee review

Legislative Description

Department of Financial Protection and Innovation: escrow agents: budget reports.

Last Action

Referred to Com. on B. & F.

3/9/2026

Committee Referrals

Banking and Finance3/9/2026

Full Bill Text

No bill text available