California Consumer Financial Protection Law: commercial financing.

Summary

The bill would force anyone offering commercial loans or brokerage services to Californians to register with the state’s financial regulator and follow consumer‑protection rules. It also prohibits tactics such as taking a confession of judgment, garnishing a borrower’s bank account, or using unfair or deceptive practices. The aim is to give small businesses and other commercial borrowers the same safeguards that consumers already have.

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

Vote

From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 12. Noes 0. Page 837.) (April 22). · Apr 23, 2025

Hearings

• Appropriations Committee Hearing
  Appropriations · May 23, 2025
• Appropriations Committee Hearing
  Appropriations · May 5, 2025
• Judiciary Committee Hearing
  Judiciary · Apr 22, 2025
• Banking and Financial Institutions Committee Hearing
  Banking and Financial Institutions · Apr 7, 2025

History

1. Feb 2, 2026Returned to Secretary of Senate pursuant to Joint Rule 56.
2. May 23, 2025May 23 hearing: Held in committee and under submission.
3. May 16, 2025Set for hearing May 23.
4. May 5, 2025May 5 hearing: Placed on APPR. suspense file.
5. Apr 29, 2025Set for hearing May 5.
6. Apr 24, 2025Read second time and amended. Re-referred to Com. on APPR.
7. Apr 23, 2025From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 12. Noes 0. Page 837.) (April 22).
8. Apr 9, 2025Set for hearing April 22.
9. Apr 8, 2025From committee: Do pass and re-refer to Com. on JUD. (Ayes 5. Noes 0. Page 679.) (April 7). Re-referred to Com. on JUD.
10. Apr 2, 2025Re-referred to Coms. on B. & F.I. and JUD.
11. Mar 28, 2025Set for hearing April 7 in B. & F.I. pending receipt.
12. Mar 25, 2025From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

The 12 most recent of 16 recorded actions.

Sponsors

• Padilla · sponsor

Bill text

Opens the legislature’s own copy.

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