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: (Failed) 2022-02-02 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB754 Detail]
Download: California-2021-SB754-Introduced.html
Bill Title: Economic development: low- to moderate-income communities: Equity in Lending and Fair Recovery Act.
Spectrum: Partisan Bill (Democrat 8-0)
Status: (Failed) 2022-02-02 - Returned to Secretary of Senate pursuant to Joint Rule 56. [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.