Bill > AB2028

This bill, amending the California Deferred Deposit Transaction Law, requires the Commissioner of Financial Protection and Innovation to include a detailed breakdown of how the assessment amount is calculated on any invoice or notice sent to a licensee. Deferred deposit transactions, often referred to as "payday loans," are regulated under this law, and licensees are required to pay a portion of the administrative costs incurred by the Commissioner. The bill mandates that this breakdown must clearly show the total administrative costs, any anticipated deficits, the total dollar amount of all deferred deposit transactions made by all licensees, the specific licensee's total dollar amount of transactions, and the number of licensed locations the licensee operates, providing greater transparency in the assessment process.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB2028