Bill Text: CA AB3108 | 2023-2024 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Business: mortgage fraud.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2024-09-24 - Chaptered by Secretary of State - Chapter 517, Statutes of 2024. [AB3108 Detail]

Download: California-2023-AB3108-Introduced.html

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CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill

No. 3108

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Introduced by Assembly Member Jones-Sawyer

February 16, 2024

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An act relating to business.

LEGISLATIVE COUNSEL'S DIGEST

AB 3108, as introduced, Jones-Sawyer. Business: brokering of loans.

Existing law, the California Financing Law (CFL), 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. Existing law authorizes the commissioner to make general rules and regulations and specific rulings, demands, and findings for the enforcement of the CFL.

This bill would state the intent of the Legislature to enact subsequent legislation to clarify rules related to the brokering of loans.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 It is the intent of the Legislature to enact subsequent legislation to clarify rules related to the brokering of loans.