California · 2025–26 Regular Session · Assembly Bill
AB 2558: Financial institutions: loans: interest rates.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
AB 2558 is a assembly bill introduced in the California Assembly on February 20, 2026. According to its official title, it concerns: Financial institutions: loans: interest rates. Primary sponsor: Marc Berman (D), Cecilia Aguiar-Curry (D). Most recent recorded action (April 23, 2026): In committee: Set, first hearing. Hearing canceled at the request of author.
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.
The California Financing Law (CFL) generally regulates loans made by finance lenders, brokers, and program administrators. The CFL authorizes licensees who make a consumer loan to contract for and receive charges with blended rates based on the amount of the money loaned, up to loans of a bona fide principal amount of less than $2,500. The CFL provides that a willful violation of any of its provisions a crime.
This bill would instead prohibit a licensee who lends any sum of money less than $2,500 from contracting for or receiving charges at a rate exceeding an annual percentage rate set forth in, and calculated by, specified federal laws and regulations as in effect on January 1, 2026. By expanding a crime, this bill would impose a state-mandated local program.
The California Deferred Deposit Transaction Law (CDDTL) generally regulates deferred deposit transactions. The CDDTL prohibits the fee for a deferred deposit transaction from exceeding 15% of the face amount of the check. The CDDTL provides that a willful violation of any of its provisions is crime.
This bill would instead prohibit the total amount charged to a customer for a deferred deposit transaction from exceeding the annual percentage rate set forth in, and calculated by, specified federal laws and regulations as in effect on January 1, 2026. By expanding 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.
Sponsors
Sponsors by party (alphabetical): Democratic 2
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Marc Berman | Primary sponsor | Democratic | Assembly | 23 |
| Cecilia Aguiar-Curry | Primary sponsor | Democratic | Assembly | 4 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- In committee: Set, first hearing. Hearing canceled at the request of author.
- Referred to Com. on B. & F.
- From printer. May be heard in committee March 23.
- Read first time. To print.