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CaliforniaSB 3622025-2026 Regular SessionSenateWALLET

California Consumer Financial Protection Law: report.

Sponsored By: Timothy Grayson (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 3 benefits, 0 costs, 0 mixed.

Stronger enforcement for business financing

If a licensed lender breaks these rules in a deal covered by the California Financing Law, it counts as a California Financing Law violation. The state financial regulator can enforce those cases. For commercial financing not covered by that law, a violation counts as an unfair, deceptive, or abusive act under the California Consumer Financial Protection Law. This gives the state more tools to act on misleading or noncompliant business financing.

Clear APR quotes for business loans

When a lender gives you a specific business financing offer and quotes a charge or amount, it must also show the offer’s annual percentage rate (APR). The APR is shown at the time of the offer during the application. Providers cannot use the words “interest” or “rate” in a way that would reasonably mislead you. It is not deceptive to use those words when the cost is an annual rate or APR, fixed or floating, shown as a margin over an index.

Protection for good faith APR estimates

A provider is not liable under this law when an Estimated APR it disclosed, following a regulation, order, or written opinion from the commissioner or an opinion from the Attorney General, differs from the actual APR. This protection stays even if that guidance later changes or is withdrawn. The law also repeals Section 22805 of the Financial Code to align these rules in the code.

Sponsors & Cosponsors

Sponsor

  • Timothy Grayson

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 225 • No: 0

Senate vote • 9/8/2025

Item 171 — Senate SFLOOR

Yes: 39 • No: 0

House vote • 9/3/2025

Item 194 — Assembly AFLOOR

Yes: 79 • No: 0

legislature vote • 8/20/2025

Vote in CX25

Yes: 15 • No: 0

legislature vote • 7/15/2025

Vote in CX13

Yes: 12 • No: 0

legislature vote • 7/7/2025

Vote in CX27

Yes: 9 • No: 0

Senate vote • 6/2/2025

Item 169 — Senate SFLOOR

Yes: 38 • No: 0

legislature vote • 5/23/2025

Vote in CS61

Yes: 6 • No: 0

legislature vote • 5/5/2025

Vote in CS61

Yes: 7 • No: 0

legislature vote • 4/22/2025

Vote in CS53

Yes: 13 • No: 0

legislature vote • 4/2/2025

Vote in CS69

Yes: 7 • No: 0

Actions Timeline

  1. Chaptered by Secretary of State. Chapter 352, Statutes of 2025.

    10/6/2025Senate

  2. Approved by the Governor.

    10/6/2025legislature

  3. Enrolled and presented to the Governor at 3 p.m.

    9/16/2025legislature

  4. Assembly amendments concurred in. (Ayes 39. Noes 0. Page 2605.) Ordered to engrossing and enrolling.

    9/8/2025Senate

  5. In Senate. Concurrence in Assembly amendments pending.

    9/3/2025Senate

  6. Read third time. Passed. (Ayes 79. Noes 0. Page 2866.) Ordered to the Senate.

    9/3/2025House

  7. Ordered to third reading.

    8/28/2025House

  8. Read third time and amended.

    8/28/2025House

  9. Read second time. Ordered to third reading.

    8/21/2025House

  10. From committee: Do pass. (Ayes 15. Noes 0.) (August 20).

    8/20/2025House

  11. From committee: Do pass and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (July 15). Re-referred to Com. on APPR.

    7/16/2025House

  12. From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.

    7/10/2025House

  13. From committee: Do pass and re-refer to Com. on JUD. (Ayes 9. Noes 0.) (July 7). Re-referred to Com. on JUD.

    7/8/2025House

  14. June 23 hearing postponed by committee.

    6/17/2025House

  15. Referred to Coms. on B. & F. and JUD.

    6/9/2025House

  16. In Assembly. Read first time. Held at Desk.

    6/3/2025House

  17. Read third time. Passed. (Ayes 38. Noes 0. Page 1400.) Ordered to the Assembly.

    6/2/2025Senate

  18. Read second time. Ordered to third reading.

    5/27/2025Senate

  19. Read second time and amended. Ordered to second reading.

    5/23/2025Senate

  20. From committee: Do pass as amended. (Ayes 6. Noes 0. Page 1198.) (May 23).

    5/23/2025Senate

  21. Set for hearing May 23.

    5/16/2025Senate

  22. May 5 hearing: Placed on APPR. suspense file.

    5/5/2025Senate

  23. Set for hearing May 5.

    4/25/2025Senate

  24. From committee: Do pass and re-refer to Com. on APPR. (Ayes 13. Noes 0. Page 834.) (April 22). Re-referred to Com. on APPR.

    4/23/2025Senate

  25. Set for hearing April 22.

    4/10/2025Senate

Bill Text

  • Chaptered

    10/6/2025

    HTML

  • Enrolled

    9/10/2025

    HTML

  • Amended Assembly

    8/28/2025

    HTML

  • Amended Assembly

    7/10/2025

    HTML

  • Amended Senate

    5/23/2025

    HTML

  • Amended Senate

    3/17/2025

    HTML

  • Introduced

    2/13/2025

    HTML

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