summary
Introduced
02/19/2025
02/19/2025
In Committee
01/08/2026
01/08/2026
Crossed Over
01/27/2026
01/27/2026
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
An act to add Chapter 10 (commencing with Section 2180) to Division 1.2 of the Financial Code, relating to financial protection.
AI Summary
This bill, effective January 1, 2028, amends the Money Transmission Act to require digital wallet providers and money transmitters operating in California to implement two-factor authentication or multifactor authentication, which are security processes requiring two or more distinct forms of verification, for all user logins to prevent unauthorized access to accounts.
Committee Categories
Budget and Finance, Business and Industry, Justice
Sponsors (1)
Last Action
In Assembly. Read first time. Held at Desk. (on 01/27/2026)
bill text
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bill summary
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