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State News: California
California Attorney General Edmund G. Brown Jr. is suing Countrywide Financial, its chief executive Angelo Mozilo, and president David Sambol for mortgage deception. In California? Report Countrywide fraud.
Legislation
California Legislative Update 2008
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Anti-Predatory Lending Ordinance, City of Los Angeles
Law number: 01-1476 of 2002
Enacted: 12/18/02
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Loans Secured by Real Property
Law number: Chapter 732, Statutes of 2001
Enacted: 07/01/02
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Loans Secured by Real Property
Law number: Chapter 733, Statutes of 2001
Enacted: 07/01/02
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An act to add and repeal Sections 2923.5, 2923.6, 2924.8, and 2929.3 of the Civil Code, and to add and repeal Section 1161b of the Code of Civil Procedure, relating to mortgages, and declaring the urgency thereof, to take effect immediately.
Bill number: SB 926
Proposed: 01/07/08
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Pending
More information...
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Deferred deposit transactions for service members
Bill number: AB 1965
Proposed: 02/06/06
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Pending
Press Release: How the Payday Industry Sabotaged the Nation's Military in California, August 30 2006
Testimony, California State Senate Joint Assembly Sunset Review/Consumer Protection, May 23 2006
Charles Lowery, Center for Responsible Lending Sgt Major Wayne Bell, US Marine Corps Jennifer Contreras, Navy-Marine Corps Relief Society Capt Mark Patton, US Navy
Last modified June 25, 2008
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Congress
The 2007 Defense Authorization Bill includes an amendment mandating a 36% rate cap on loans to service members. More >
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