Skip to main content
Independent and nonpartisan. SaveYourState is a civic information resource. It is not a government website and is not affiliated with any government agency, party, or campaign.

California · 2025–26 Regular Session · Assembly Bill

AB 2425: Department of Financial Protection and Innovation: budget reports.

Enacted Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

AB 2425 is a assembly bill introduced in the California Assembly on February 20, 2026. According to its official title, it concerns: Department of Financial Protection and Innovation: budget reports. Primary sponsor: Phillip Chen (R). Most recent recorded action (August 27, 2026): Chaptered by Secretary of State - Chapter 141, Statutes of 2026.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Legislative Counsel’s Digest (official, as of the latest version). Written by nonpartisan legislative staff; reproduced verbatim.

Existing law provides for the licensure and regulation of various financial institutions by the Commissioner of Financial Protection and Innovation. Some of those laws require the commissioner to charge and collect specified fees and assessments.

This bill would require the commissioner to, on or before March 1, 2027, and annually thereafter, report to the Joint Legislative Budget Committee, the Senate Banking and Financial Institutions Committee, and the Assembly Banking and Finance Committee the projected and actual revenues and expenditures, including the difference between revenues and expenditures, for the immediately preceding fiscal year for various laws enforced by the commissioner, as specified.

This bill would require, for each of those laws that authorizes the Department of Financial Protection and Innovation to issue and collect assessments and charges on a pro rata basis to recover the actual costs of administering that law, the department to include in any report pursuant to the bill the method of determining those assessments and charges.

Sponsors

Sponsors by party (alphabetical): Republican 1

NameRolePartyChamberDistrict
Phillip ChenPrimary sponsorRepublicanAssembly59

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Chaptered by Secretary of State - Chapter 141, Statutes of 2026.
  2. Approved by the Governor.
  3. Enrolled and presented to the Governor at 3:30 p.m.
  4. In Assembly. Ordered to Engrossing and Enrolling.
  5. Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 5324.).
  6. Read second time. Ordered to Consent Calendar.
  7. From committee: Be ordered to second reading file pursuant to Senate Rule 28.8 and ordered to Consent Calendar.
  8. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (June 17). Re-referred to Com. on APPR.
  9. Referred to Com. on B. & F.I.
  10. In Senate. Read first time. To Com. on RLS. for assignment.
  11. Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 5464.)
  12. Read second time. Ordered to third reading.

Sources

  1. California Legislative Information — pubinfo database export
  2. Official bill page