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California · 2025–26 Regular Session · Assembly Bill

AB 743: California Financing Law: lawsuit financiers.

Passed one chamber 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 743 is a assembly bill introduced in the California Assembly on February 18, 2025. According to its official title, it concerns: California Financing Law: lawsuit financiers. Primary sponsor: Michelle Rodriguez (D). It lists 1 additional sponsor. Most recent recorded action (July 1, 2025): 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 generally regulates the business of finance lenders and brokers and prohibits any person from engaging in those businesses without obtaining a license from the Commissioner of Financial Protection and Innovation. The law also imposes various requirements on licensees who offer or sell commercial loans, as defined.

This bill would prohibit a person from engaging in the business of lawsuit financing, as defined, without obtaining a license from the commissioner, and would generally regulate the business of lawsuit financiers, as specified. The bill would require a licensee who is a lawsuit financier, as defined, to maintain a surety bond, as prescribed. The bill would include lawsuit financing in the definition of “commercial loan.” The bill would make willful violations of the California Financing Law by a licensee who is a lawsuit financier subject to a civil penalty, as specified.

Sponsors

Sponsors by party (alphabetical): Democratic 2

NameRolePartyChamberDistrict
Michelle RodriguezPrimary sponsorDemocraticAssembly53
Stephanie NguyenCo-sponsorDemocraticAssembly10

“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. In committee: Set, first hearing. Hearing canceled at the request of author.
  2. Referred to Coms. on B. & F.I. and JUD.
  3. In Senate. Read first time. To Com. on RLS. for assignment.
  4. Read third time. Passed. Ordered to the Senate. (Ayes 79. Noes 0. Page 1850.)
  5. Read second time. Ordered to third reading.
  6. From committee: Do pass. (Ayes 14. Noes 0.) (May 23).
  7. In committee: Set, first hearing. Referred to APPR. suspense file.
  8. Re-referred to Com. on APPR.
  9. Read second time and amended.
  10. From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 28).
  11. Joint Rule 62(a) suspended. (Page 1307.)
  12. Re-referred to Com. on B.&F.

Sources

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