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Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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AB-2028 • 2026

Deferred deposit transactions: assessments.

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
2026-04-23
Official status
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.
Effective date
Not listed

Plain English Breakdown

The official source material does not provide specific details about who can offer loan advances, what kind of loans are allowed, or if this will affect customer costs.

Rules for Loan Advance Fees

This law requires companies that offer loan advances to provide detailed information about their fees to a state official.

What This Bill Does

  • Requires an invoice or notice from the Commissioner of Financial Protection and Innovation to include a detailed calculation showing how much a company owes for its share of costs related to administering the California Deferred Deposit Transaction Law.

Who It Names or Affects

  • Companies that offer loan advances
  • 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 money from their bank account in exchange for cash.
Licensee
A company that is allowed by the state to offer certain financial services after getting a license.

Limits and Unknowns

  • Does not specify how much companies have to pay or what costs are included.
  • It's unclear if this will affect the cost of loan advances for customers.

Bill History

  1. 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.

  2. 2026-03-02 California Legislative Information

    Referred to Com. on B. & F.

  3. 2026-02-18 California Legislative Information

    From printer. May be heard in committee March 20.

  4. 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