BILL NUMBER: AB 385	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Dickinson

                        FEBRUARY 14, 2013

   An act to add Division 23 (commencing with Section 80000) to the
Financial Code, relating to financial institutions.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 385, as introduced, Dickinson. Bank on California program.
   Existing law provides for the formation and regulation of
state-organized banks and state-certified credit unions by the
Department of Financial Institutions. The Governor's Reorganization
Plan No. 2 of 2012 provides that, on and after July 1, 2013, the
responsibilities of the Department of Financial Institutions and the
Commissioner of Financial Institutions shall be transferred to the
Department of Business Oversight and the Commissioner of Business
Oversight.
   This bill would establish the Bank on California Program in the
Department of Business Oversight. The bill would require the
commissioner to report annually to specified committees of the
Legislature on the activities of the program.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Division 23 (commencing with Section 80000) is added to
the Financial Code, to read:

      DIVISION 23.  BANK ON CALIFORNIA PROGRAM


   80000.  (a) The Legislature finds and declares that "Bank on
California" is a voluntary collaborative initiative that assists
Californians in opening a bank or credit union account and saving for
the future.
   (b) There is hereby established in the department the Bank on
California Program.
   80001.  For purposes of this division, the following terms have
the following meanings:
   (a) "Department" means the Department of Business Oversight.
   (b) "Program" means the Bank on California Program.
   80002.  Commencing in 2014, the department shall provide the
respective chairpersons of the Senate Committee on Banking and
Financial Institutions and the Assembly Committee on Banking and
Finance with a brief annual summary on the activities of the program.
The summary shall be submitted no later than August 30 of each year.