Bill Text: CA SB754 | 2021-2022 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Economic development: low- to moderate-income communities: Equity in Lending and Fair Recovery Act.

Spectrum: Partisan Bill (Democrat 8-0)

Status: (Introduced) 2021-04-21 - From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I. [SB754 Detail]

Download: California-2021-SB754-Introduced.html


CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Senate Bill
No. 754


Introduced by Senator Hertzberg

February 19, 2021


An act relating to financial institutions.


LEGISLATIVE COUNSEL'S DIGEST


SB 754, as introduced, Hertzberg. Access to banking.
Existing law, the Financial Institutions Law, regulates the activities of various financial entities, including commercial banks, industrial banks, trust companies, credit unions, and savings and loan associations. Existing law, the Banking Law, authorizes a corporation to be formed by one or more persons in accordance with the laws of this state for the purpose of conducting a commercial banking business, a trust business, or both.
This bill would declare the intent of the Legislature to enact legislation that would enable individuals who are unbanked or underbanked to gain better access to banking and related financial services.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   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 enable individuals who are unbanked or underbanked to gain better access to banking and related financial services.
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