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A new bills will go into effect in California on Jan. 1, will protect consumers against unfair bank fees.
AB 2017 by Assemblymember Tim Grayson (D-Concord) and SB 1075 by Senator Steven Bradford (D-Gardena) address unfair banking practices.
AB 2017 prohibits certain banks and credit unions from charging nonsufficient funds fees when a transaction is declined due to the consumer having insufficient funds.
SB 1075 sets limits on the amount credit unions can charge for overdraft fees.
These bills aim to protect lower-income Californians that are disproportionately impacted by financial fees that can push them deeper into financial hardship.
Additional consumer protection measures signed into law
- AB 1849 by Assemblymember Tim Grayson (D-Concord) – Song-Beverly Consumer Warranty Act: services and repairs: travel trailers and motor homes (signed earlier this year).
- AB 1900 by Assemblymember Dr. Akilah Weber (D-San Diego) – Consumer refunds: nondisclosure agreements (signed earlier this year).
- AB 1971 by Assemblymember Dawn Addis (D-Morro Bay) – Administration of standardized tests.
- AB 2202 by Assemblymember Anthony Rendon (D-Lakewood) – Short-term rentals: disclosure: cleaning tasks.
- AB 2297 by Assemblymember Laura Friedman (D-Glendale) – Hospital and Emergency Physician Fair Pricing Policies.
- AB 2347 by Assemblymember Ash Kalra (D-San Jose) – Summary proceedings for obtaining possession of real property: procedural requirements.
- AB 2426 by Assemblymember Jacqui Irwin (D-Thousand Oaks) – Consumer protection: false advertising: digital goods.
- AB 2801 by Assemblymember Laura Friedman (D-Glendale) – Tenancy: Security Deposits (signed earlier this year).
- AB 2837 by Assemblymember Rebecca Bauer-Kahan (D-Orinda) – Civil actions: enforcement of money judgments.
- AB 2992 by Assemblymember Stephanie Nguyen (D-Elk Grove) – Real Estate Law: buyer-broker representation agreements.
- AB 3108 by Assemblymember Reginald Byron Jones-Sawyer, Sr. (D-Los Angeles) – Business: mortgage fraud.
- AB 3283 by the Committee on Judiciary – Enforcement of judgments: claims of exemption (signed earlier this year).
- SB 919 by Senator Thomas Umberg (D-Santa Ana) – Franchise Investment Law: franchise brokers.
- SB 924 by Senator Steven Bradford (D-Gardena) – Tenancy: credit reporting: lower income households.
- SB 1286 by Senator Dave Min (D-Irvine) – Rosenthal Fair Debt Collection Practices Act: covered debt: commercial debts.
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