AB-2028 • 2026

Deferred deposit transactions: assessments.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Chen
Last action: 2026-05-27
Official status: Referred to Com. on B. & F.I.
Effective date: Not listed

Plain English Breakdown

The official source material does not provide specific details on regulatory cost calculations or changes to existing regulations beyond invoice requirements.

Deferred Deposit Transactions: Assessments

This law requires companies offering deferred deposit transactions to include specific details about how regulatory costs are calculated on their invoices.

What This Bill Does

Requires an invoice or assessment notice issued by the Commissioner of Financial Protection and Innovation to a licensee to include the pro rata amount calculation used to determine the payment due.

Who It Names or Affects

Companies that offer deferred deposit transactions in California
The Commissioner of Financial Protection and Innovation

Terms To Know

deferred deposit transaction: A type of loan where a borrower gives the lender a post-dated check or authorization to withdraw funds from their bank account on a future date.
pro rata share: The fair share of costs based on each company's proportionate use or benefit.

Limits and Unknowns

Does not specify the exact details of how regulatory costs are calculated.
It is unclear if there will be changes to existing regulations beyond requiring detailed invoices.

Bill History

2026-05-27 California Legislative Information
Referred to Com. on B. & F.I.
2026-05-14 California Legislative Information
In Senate. Read first time. To Com. on RLS. for assignment.
2026-05-14 California Legislative Information
Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0.)
2026-05-07 California Legislative Information
Read second time. Ordered to Consent Calendar.
2026-05-06 California Legislative Information
From committee: Do pass. To Consent Calendar. (Ayes 14. Noes 0.) (May 6).
2026-04-23 California Legislative Information
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (April 23). Re-referred to Com. on APPR.
2026-03-02 California Legislative Information
Referred to Com. on B. & F.
2026-02-18 California Legislative Information
From printer. May be heard in committee March 20.
2026-02-17 California Legislative Information
Read first time. To print.

Official Summary Text

AB 2028, as introduced, Chen.
Deferred deposit transactions: assessments.
The California Deferred Deposit Transaction Law generally provides for the licensure and regulation by the Commissioner of Financial Protection and Innovation of a person who engages in the business of making deferred deposit transactions. The law requires each licensee to pay to the commissioner its pro rata share of all costs and expenses reasonably incurred in the administration of the law, as specified.
This bill would require an invoice or assessment notice issued by the commissioner to a licensee pursuant to the provisions described above to include the pro rata amount calculation used to determine the amount due and payable by the licensee, as specified.

Current Bill Text

Read the full stored bill text

Download Bill PDF