Money Transmission Act: authentication.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Enacted

Summary

The bill forces any California‑licensed digital wallet provider or money transmitter to require two‑factor or multifactor authentication for every user login, and to add automatic logout, session timeout, and re‑authentication features. It is intended to improve consumer protection against fraud and will take effect on Jan. 1, 2028.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

Read third time. Passed. (Ayes 75. Noes 0. Page 6206.) Ordered to the Senate. · Aug 17, 2026

Hearings

• Appropriations Committee Hearing
  Appropriations · Aug 5, 2026
• Banking and Finance Committee Hearing
  Banking and Finance · Jun 22, 2026
• Banking and Financial Institutions Committee Hearing
  Banking and Financial Institutions · Jan 7, 2026

History

1. May 26, 2026From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.
2. May 4, 2026Referred to Com. on B. & F.
3. Jan 27, 2026Read third time. Passed. (Ayes 40. Noes 0. Page 3296.) Ordered to the Assembly.
4. Jan 27, 2026In Assembly. Read first time. Held at Desk.
5. Jan 21, 2026Read second time. Ordered to third reading.
6. Jan 20, 2026From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
7. Jan 9, 2026Set for hearing January 20.
8. Jan 8, 2026Withdrawn from committee.
9. Jan 8, 2026Re-referred to Com. on APPR.
10. Jan 7, 2026Withdrawn from committee.
11. Jan 7, 2026Re-referred to Com. on JUD.
12. Jan 7, 2026From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 3187.) (January 7). Re-referred to Com. on APPR.

The 12 most recent of 20 recorded actions.

Sponsors

• Laura Richardson (D) · sponsor
• Richardson

Bill text

Opens the legislature’s own copy.

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