California bills · 2025-2026 Regular Session
California SB 362
Commercial financing: disclosures.
- Introduced
- In committee
- Passed Senate
- Passed House
- To Governor
- Became law
Sponsors
- Grayson (Democratic)
Summary
Official abstract published by the California legislature· summary
Existing law requires a provider of commercial financing to disclose certain information, as specified. Existing law provides that a provider of commercial financing licensed under the California Financing Law (CFL) is subject to examination and enforcement by the Commissioner of Financial Protection and Innovation under the CFL for any violation of those disclosure provisions, as specified. Certain violations of the CFL are a crime.
This bill would prohibit a provider of commercial financing from using the term "interest" or "rate" in a deceptive way that could reasonably result in the recipient being misled and would require those providers to use the term "annual percentage rate" or the acronym "APR" in specified circumstances. The bill would repeal the provision subjecting those providers to the CFL described above and would instead provide that a violation of the disclosure provisions described above and the provisions of the bill is a violation of the CFL if the violation relates to a commercial financing transaction subject to the CFL, or a violation of the California Consumer Financial Protection Law if the violation relates to a commercial financing transaction that is not subject to the CFL. By expanding the scope of a crime, this bill would impose a state-mandated local program.
The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.
This bill would provide that no reimbursement is required by this act for a specified reason.
Text versions
- 10/06/25 - Chaptered· Oct 6, 2025
- 09/10/25 - Enrolled· Sep 10, 2025
- 08/28/25 - Amended Assembly· Aug 28, 2025
- 07/10/25 - Amended Assembly· Jul 10, 2025
- 05/23/25 - Amended Senate· May 23, 2025
- 03/17/25 - Amended Senate· Mar 17, 2025
- 02/13/25 - Introduced· Feb 13, 2025
- SB362
Roll-call votes
State vote data last updated Oct 16, 2026, 8:06 PM.
| Date | Vote | Result | Your legislators |
|---|---|---|---|
| Sep 8, 2025 Senate | Unfinished Business SB362 Grayson Concurrence | pass | Set your home in California to see |
| Sep 3, 2025 House | SB 362 Grayson Senate Third Reading By Blanca Rubio | pass | Set your home in California to see |
| Aug 20, 2025 House | Do pass. | pass | Set your home in California to see |
| Jul 15, 2025 House | Do pass and be re-referred to the Committee on [Appropriations] | pass | Set your home in California to see |
| Jul 7, 2025 House | Do pass and be re-referred to the Committee on [Judiciary] | pass | Set your home in California to see |
| Jun 2, 2025 Senate | 3rd Reading | pass | Set your home in California to see |
| May 23, 2025 Senate | Do pass as amended | pass | Set your home in California to see |
| May 5, 2025 Senate | Placed on suspense file | pass | Set your home in California to see |
| Apr 22, 2025 Senate | Do pass, but first be re-referred to the Committee on [Appropriations] | pass | Set your home in California to see |
| Apr 2, 2025 Senate | Do pass, but first be re-referred to the Committee on [Rules] | pass | Set your home in California to see |
Actions
- Oct 6, 2025 · Legislature
Chaptered by Secretary of State. Chapter 352, Statutes of 2025. - Oct 6, 2025 · Legislature
Approved by the Governor. - Sep 16, 2025 · Legislature
Enrolled and presented to the Governor at 3 p.m. - Sep 8, 2025 · Senate
Assembly amendments concurred in. (Ayes 39. Noes 0. Page 2605.) Ordered to engrossing and enrolling. - Sep 3, 2025 · Senate
In Senate. Concurrence in Assembly amendments pending. - Sep 3, 2025 · House
Read third time. Passed. (Ayes 79. Noes 0. Page 2866.) Ordered to the Senate. - Aug 28, 2025 · House
Ordered to third reading. - Aug 28, 2025 · House
Read third time and amended. - Aug 21, 2025 · House
Read second time. Ordered to third reading. - Aug 20, 2025 · House
From committee: Do pass. (Ayes 15. Noes 0.) (August 20). - Jul 16, 2025 · House
From committee: Do pass and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (July 15). Re-referred to Com. on APPR. - Jul 10, 2025 · House
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD. - Jul 8, 2025 · House
From committee: Do pass and re-refer to Com. on JUD. (Ayes 9. Noes 0.) (July 7). Re-referred to Com. on JUD. - Jun 17, 2025 · House
June 23 hearing postponed by committee. - Jun 9, 2025 · House
Referred to Coms. on B. & F. and JUD. - Jun 3, 2025 · House
In Assembly. Read first time. Held at Desk. - Jun 2, 2025 · Senate
Read third time. Passed. (Ayes 38. Noes 0. Page 1400.) Ordered to the Assembly. - May 27, 2025 · Senate
Read second time. Ordered to third reading. - May 23, 2025 · Senate
Read second time and amended. Ordered to second reading. - May 23, 2025 · Senate
From committee: Do pass as amended. (Ayes 6. Noes 0. Page 1198.) (May 23). - May 16, 2025 · Senate
Set for hearing May 23. - May 5, 2025 · Senate
May 5 hearing: Placed on APPR. suspense file. - Apr 25, 2025 · Senate
Set for hearing May 5. - Apr 23, 2025 · Senate
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. - Apr 10, 2025 · Senate
Set for hearing April 22. - Apr 9, 2025 · Senate
Re-referred to Com. on JUD. - Apr 3, 2025 · Senate
From committee: Do pass and re-refer to Com. on RLS. (Ayes 7. Noes 0. Page 632.) (April 2). Re-referred to Com. on RLS. - Mar 18, 2025 · Senate
Set for hearing April 2. - Mar 17, 2025 · Senate
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I. - Feb 26, 2025 · Senate
Referred to Com. on B. & F.I. - Feb 14, 2025 · Senate
From printer. May be acted upon on or after March 16. - Feb 13, 2025 · Senate
Introduced. Read first time. To Com. on RLS. for assignment. To print.