Phillip Chen
- Republican
- Assemblymember
- District 59
Author
Existing law, the California Financing Law, prohibits a person from engaging in the business of a finance lender or broker without obtaining a license from the Commissioner of Financial Protection and Innovation. This bill would deem a lender to be a licensed finance lender or broker without obtaining a license if the lender does not make or broker residential mortgage loans or consumer loans, makes 5 or fewer commercial loans annually, and the principal amount of all loans made by the lender in the preceding and current calendar year have each exceeded $350,000.
In committee: Held under submission.
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 15). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
From printer. May be heard in committee March 18.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2981 | HTML |
| 02/16/24 - Introduced | |
| 04/08/24 - Amended Assembly |
| Document | Format |
|---|---|
| 04/12/24- Assembly Banking and Finance | |
| 04/30/24- Assembly Appropriations |
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