CAL LEG Credit Reports, Foster Care


On Sep. 28, CAL LEG enacted law re minors' credit history information


  • CAL LEG enacted bill AB 2935 re consumer credit reports of those in foster placement.
  • Amends CAL FIN 3-4-1.6-1785.11.11, CAL FIN 3-4-1.6-1785.12 (obligations of CRBs).
  • Bill Provisions
  • Allows credit reporting bureaus (CRB) for consumer indebtedness and financial-related accounts to accept placement or removal of a security freeze for a protected consumer.
  • Protected consumer to mean, include persons under jurisdiction of a county welfare department or a county probation department placed in foster care, younger than 16.
  • And makes provisions for the blocking or unblocking of credit history information.
  • Legislative History
  • On Feb. 15, 2024, bill introduced in Assembly; on May 16, 2024, bill passed Assembly.
  • On May 16, 2024, bill introduced Senate; on Aug. 30, 2024, bill passed in Senate.
  • On Aug. 31, 2024, bill amendments concurred in Assembly; on Sep. 13, bill enrolled.
  • On Sep. 13, 2024, bill sent to governor; on Sep. 28, 2024, bill approved by governor.
  • Effectiveness
  • No effective date specified; CAL bills generally effective Jan. 1 next year, Jan. 1, 2025.

Regulators CAL LEG
Entity Types CNSM; CRB
Reference Ch.846, Bill AB2935, 9/28/2024;
Functions Financial; Legal; Reporting
Countries United States of America
Category
State
Products ABS; Cards; Deposits; Loan; Mortgage
Regions Am
Rule Type Final
Rule Date 9/28/2024
Effective Date 1/1/2025
Rule Id 228121
Linked to N/A
Reg. Last Update 9/28/2024
Report Section US Consumer

Last substantive update on 10/02/2024