Bill > AB1427

This bill amends California's Consumer Credit Reporting Agencies Act to protect consumers who have sold property in areas affected by natural disasters. Specifically, the bill prohibits consumer credit reporting agencies from including information about property sales that occurred in regions where the Governor has declared a state of emergency due to a natural disaster, and the property was rendered uninhabitable as a result. Additionally, the bill prevents individuals or entities using consumer credit reports for credit transactions from using such property sales as a negative factor when making credit decisions. This change expands on previous protections that already existed for medical debt, and aims to prevent further financial harm to individuals who have lost their homes to natural disasters by ensuring that the forced sale of their damaged property does not negatively impact their credit scores or ability to secure credit. The bill removes specific references to wildfires and a January 7, 2025 date, instead broadly applying to all natural disasters, which provides more comprehensive protection for affected property owners.

Budget and Finance, Justice

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB1427