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California Financial Code

§ 530

FIN § 530 Effective Jan 1, 2025Div. 1 · Ch. 5.5

Statute text

View on leginfo.ca.gov
A bank or credit union subject to the examination authority of the commissioner shall not charge a consumer a nonsufficient funds fee, as defined in Section 521, when the consumer’s attempt to initiate a transaction is declined instantaneously or near instantaneously by the bank or credit union due to nonsufficient funds.

Legislative history

Added by Stats. 2024, Ch. 509, Sec. 1. (AB 2017) Effective January 1, 2025.

Source: California Financial Code § 530 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.