Bill Text: CA AB1320 | 2021-2022 | Regular Session | Amended

California Assembly Bill 1320 (Prior Session Legislation)

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

Bill Title: Money transmission: customer service.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2021-10-04 - Chaptered by Secretary of State - Chapter 453, Statutes of 2021. [AB1320 Detail]

Download: California-2021-AB1320-Amended.html

Amended IN Senate June 10, 2021

Amended IN Senate May 25, 2021

Amended IN Assembly March 11, 2021

CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Assembly Bill

No. 1320

Introduced by Assembly Member Bauer-Kahan

February 19, 2021

An act to add Section 2107 to the Financial Code, relating to financial institutions.

LEGISLATIVE COUNSEL'S DIGEST

AB 1320, as amended, Bauer-Kahan. Money transmission: customer service.

Existing law establishes the Money Transmission Act to protect the interests of persons in this state who use money transmission services. The act prohibits a person from engaging in the business of money transmission in the state, as specified, unless the person is licensed or exempt from licensure under the act. The act places various requirements on licensees, including requiring each licensee to post a notice on their premises informing individuals where complaints relating to money transmission activities at the location may be directed.

This bill would require a licensee to display on its internet website a telephone number through which a customer may contact the licensee for customer service issues, and would require the licensee to provide that telephone number in any written communication from a licensee to a customer related to money received for transmission. The bill would require a licensee to reply within 24 hours in a specified manner to a consumer who contacts the licensee for customer service issues.

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

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

SECTION 1.

Section 2107 is added to the Financial Code, to read:

2107.

(a) A licensee shall prominently display on its internet website a telephone number through which a customer may contact the licensee for customer service issues.

(b) In any written communication from a licensee to a customer related to money received for transmission, the licensee shall include a telephone number through which the customer may contact the licensee for customer service issues.

(c) A licensee shall reply within 24 hours to a consumer who contacts the licensee for customer service issues. The reply shall be meet the following requirements:

(1) The reply shall be individualized to address the customer’s ~~concern or connect the customer with resources to address their~~ concern.

(2) If the licensee requires additional information from the consumer to resolve the customer service issue, the reply shall provide specific instruction to the consumer regarding the method or methods by which that information may be provided to the licensee. At least one of those methods shall be by telephone.