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The bill was passed by the California State Legislature and signed into law by the Governor of California, Jerry Brown, on June 28, 2018, to amend Part 4 of Division 3 of the California Civil Code. [2] Officially called AB-375, the act was introduced by Ed Chau, member of the California State Assembly, and State Senator Robert Hertzberg. [3] [4]
The Act contains a provision that limits the first year annual fee for a credit card to 25% of the credit limit. Credit card issuers are still able to charge certain additional fees, such as "setup fees" or "program fees." The Act also restricts the fees that can be charged for gift cards and other prepaid cards.
dfpi .ca .gov. The California Department of Financial Protection and Innovation (abbreviated DFPI; formerly the Department of Business Oversight, DBO) regulates a variety of financial services, businesses, products, and professionals. [1] The department operates under the California Business, Consumer Services and Housing Agency .
Credit card skimming increased by 20% in the United States in 2023, ... including in California. ... Contact your bank or credit card company to cancel your card and request a new one;
The Song-Beverly Credit Card Act of California was passed in 1971 to protect consumer information in credit card transactions. [16] Under the act, companies may not collect personally identifiable information from consumers who purchase goods or services using credit cards.
California 's "Shine the Light" law (CA Civil Code ยง 1798.83 [1] [2]) is a privacy law passed by the California State Legislature in 2003. It became an active part of the California Civil Code on January 1, 2005. It is considered one of the first attempts by a state legislature in the United States to address the practice of sharing customers ...
The Consumer Financial Protection Bureau finalized a rule limiting credit card late fees to $8. The move could save 45 million people an average $220 per year on late fees.
The Payment Card Industry Data Security Standard ( PCI DSS) is an information security standard used to handle credit cards from major card brands. The standard is administered by the Payment Card Industry Security Standards Council, and its use is mandated by the card brands. It was created to better control cardholder data and reduce credit ...