BILL NUMBER: AB 1980	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Roger Hernández

                        FEBRUARY 23, 2012

   An act relating to deferred deposit transactions.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1980, as introduced, Roger Hernández. Deferred deposit
transactions.
   Existing law, the California Deferred Deposit Transaction Law,
prohibits a person from offering, originating, or making a deferred
deposit transaction without first obtaining a license from the
Commissioner of Corporations. Existing law authorizes a licensee to
defer the deposit of a customer's personal check for up to 31 days
and prohibits a fee for a deferred deposit transaction from exceeding
15% of the face amount of the check. Existing law makes a willful
violation of these provisions a crime.
   This bill would state the intent of the Legislature to enact
legislation that would further regulate the making of deferred
deposit transactions.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


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

  SECTION 1.  It is the intent of the Legislature to enact
legislation that would further regulate the making of deferred
deposit transactions.