AB 801
Nondiscrimination.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Judiciary
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Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes the California Community Reinvestment Act, requiring financial institutions operating in California to meet the financial service needs of low- and moderate-income communities and communities of color. It mandates that the Department of Financial Protection and Innovation assess these institutions’ performance at least every three years, assigning ratings based on their community service record. The bill also creates a fund to penalize institutions with poor performance and authorizes investigations for compliance with nondiscrimination laws, ensuring fair lending practices across the state.
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