Bill Text: CA AB1219 | 2011-2012 | Regular Session | Introduced

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

---

Bill Title: Credit cards: personal information.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2011-10-09 - Chaptered by Secretary of State - Chapter 690, Statutes of 2011. [AB1219 Detail]

Download: California-2011-AB1219-Introduced.html

---

BILL NUMBER: AB 1219	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Perea

                        FEBRUARY 18, 2011

   An act to amend Section 1747.01 of the Civil Code, relating to
credit cards.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1219, as introduced, Perea. Credit cards: federal conformance.
   Existing law declares the intent of the Legislature that specified
state laws regulating credit cards that are similar to the federal
Truth in Lending Act be interpreted to essentially conform to the
Truth in Lending Act and any rule, regulation, or interpretation
promulgated under that act by the Board of Governors of the Federal
Reserve System. Existing federal law creates the Bureau of Consumer
Financial Protection, which is charged with implementing and
enforcing federal consumer financial laws.
   This bill would further declare the intent of the Legislature that
specified state law regulating credit cards also be interpreted in
conformance with any rule, regulation, or interpretation of the Truth
in Lending Act promulgated by the Bureau of Consumer Financial
Protection.
   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.  Section 1747.01 of the Civil Code is amended to read:
   1747.01.  It is the intent of the Legislature that the provisions
of this title as to which there are similar provisions in the federal
Truth in Lending Act, as amended (15 U.S.C. 1601, et seq.),
essentially conform, and be interpreted by anyone construing the
provisions of this title to so conform, to the Truth in Lending Act
and any rule, regulation, or interpretation promulgated thereunder by
the Board of Governors of the Federal Reserve System  , or any
rule, regulation, o   r interpretation of the act
promulgated by the Bureau of Consumer Financial Protection  ,
and any interpretation issued by an official or employee of the
Federal Reserve System  or the Bureau of Consumer Financial
Protection  duly authorized to issue such interpretation.