CA SB 362
enactedCommercial financing: disclosures.
California · 2025-2026 Regular Session · upper
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Quick answers
Did CA SB 362 pass?
Yes. CA SB 362 has been enacted into law. Latest recorded action (2025-10-06): Chaptered by Secretary of State. Chapter 352, Statutes of 2025.
What is CA SB 362 about?
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.
Who sponsors CA SB 362?
Grayson is the primary sponsor of CA SB 362.
Description
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.
- Introduced
- 2025-02-13
- Latest action
- 2025-10-06 — Chaptered by Secretary of State. Chapter 352, Statutes of 2025.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Graysonauthor
Committees
Not provided by source.
Action timeline
Newest first
2025-10-06
Chaptered by Secretary of State. Chapter 352, Statutes of 2025.
became-law
2025-10-06
Approved by the Governor.
executive-signature
2025-09-16
Enrolled and presented to the Governor at 3 p.m.
executive-receipt
2025-09-08
Assembly amendments concurred in. (Ayes 39. Noes 0. Page 2605.) Ordered to engrossing and enrolling.
amendment-passage,committee-passage,committee-passage-favorable
2025-09-03
In Senate. Concurrence in Assembly amendments pending.
2025-09-03
Read third time. Passed. (Ayes 79. Noes 0. Page 2866.) Ordered to the Senate.
passage,reading-1,reading-3
2025-08-28
Ordered to third reading.
reading-1,reading-3
2025-08-28
Read third time and amended.
amendment-passage,reading-1,reading-3
2025-08-21
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2025-08-20
From committee: Do pass. (Ayes 15. Noes 0.) (August 20).
committee-passage,committee-passage-favorable
2025-07-16
From committee: Do pass and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (July 15). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2025-07-10
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-07-08
From committee: Do pass and re-refer to Com. on JUD. (Ayes 9. Noes 0.) (July 7). Re-referred to Com. on JUD.
committee-passage,committee-passage-favorable,referral-committee
2025-06-17
June 23 hearing postponed by committee.
2025-06-09
Referred to Coms. on B. & F. and JUD.
referral-committee
2025-06-03
In Assembly. Read first time. Held at Desk.
reading-1
2025-06-02
Read third time. Passed. (Ayes 38. Noes 0. Page 1400.) Ordered to the Assembly.
passage,reading-1,reading-3
2025-05-27
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2025-05-23
Read second time and amended. Ordered to second reading.
amendment-passage,reading-1,reading-2
2025-05-23
From committee: Do pass as amended. (Ayes 6. Noes 0. Page 1198.) (May 23).
amendment-passage,committee-passage,committee-passage-favorable
2025-05-16
Set for hearing May 23.
2025-05-05
May 5 hearing: Placed on APPR. suspense file.
2025-04-25
Set for hearing May 5.
2025-04-23
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.
committee-passage,committee-passage-favorable,referral-committee
2025-04-10
Set for hearing April 22.
2025-04-09
Re-referred to Com. on JUD.
referral-committee
2025-04-03
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.
committee-passage,committee-passage-favorable,referral-committee
2025-03-18
Set for hearing April 2.
2025-03-17
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-02-26
Referred to Com. on B. & F.I.
referral-committee
2025-02-14
From printer. May be acted upon on or after March 16.
2025-02-13
Introduced. Read first time. To Com. on RLS. for assignment. To print.
introduction,reading-1,referral-committee
Versions
- 02/13/25 - Introduced — 2025-02-13Compare
- 03/17/25 - Amended Senate — 2025-03-17Compare
- 05/23/25 - Amended Senate — 2025-05-23Compare
- 07/10/25 - Amended Assembly — 2025-07-10Compare
- 08/28/25 - Amended Assembly — 2025-08-28Compare
- 09/10/25 - Enrolled — 2025-09-10Compare
- 10/06/25 - Chaptered — 2025-10-06Compare
- SB362Compare
- (document, no version)Compare
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Votes
Do pass, but first be re-referred to the Committee on [Rules]
2025-04-02 · pass · 7-0
Member-level votes (7)
- Cervantes: yes
- Hurtado: yes
- Strickland: yes
- Grayson: yes
- Niello: yes
- Richardson: yes
- Limón: yes
Do pass, but first be re-referred to the Committee on [Appropriations]
2025-04-22 · pass · 13-0
Member-level votes (13)
- Allen: yes
- Wahab: yes
- Durazo: yes
- Umberg: yes
- Caballero: yes
- Laird: yes
- Arreguín: yes
- Stern: yes
- Weber Pierson: yes
- Ashby: yes
- Valladares: yes
- Niello: yes
- Wiener: yes
Placed on suspense file
2025-05-05 · pass · 7-0
Member-level votes (7)
- Richardson: yes
- Grayson: yes
- Seyarto: yes
- Caballero: yes
- Dahle: yes
- Cabaldon: yes
- Wahab: yes
Do pass as amended
2025-05-23 · pass · 6-0
Member-level votes (7)
- Caballero: yes
- Seyarto: yes
- Wahab: yes
- Cabaldon: yes
- Richardson: yes
- Grayson: yes
- Dahle: other
3rd Reading
2025-06-02 · pass · 38-0
Member-level votes (40)
- Menjivar: yes
- Niello: yes
- Pérez: yes
- Rubio: yes
- Padilla: yes
- Alvarado-Gil: yes
- Cervantes: yes
- Wahab: yes
- Choi: yes
- Smallwood-Cuevas: yes
- Wiener: yes
- Jones: yes
- Grayson: yes
- Cortese: yes
- Seyarto: yes
- Ashby: yes
- Gonzalez: yes
- Arreguín: yes
- Archuleta: yes
- Umberg: yes
- Becker: yes
- Laird: yes
- Durazo: yes
- McGuire: yes
- Ochoa Bogh: yes
- Dahle: yes
- Blakespear: yes
- McNerney: yes
- Allen: yes
- Limón: yes
- Valladares: yes
- Caballero: yes
- Grove: yes
- Strickland: yes
- Stern: yes
- Weber Pierson: yes
- Cabaldon: yes
- Richardson: yes
- Hurtado: other
- Reyes: other
Do pass and be re-referred to the Committee on [Judiciary]
2025-07-07 · pass · 9-0
Member-level votes (9)
- Fong: yes
- Dixon: yes
- Valencia: yes
- Michelle Rodriguez: yes
- Schiavo: yes
- Blanca Rubio: yes
- Chen: yes
- Soria: yes
- Krell: yes
Do pass and be re-referred to the Committee on [Appropriations]
2025-07-15 · pass · 12-0
Member-level votes (12)
- Stefani: yes
- Dixon: yes
- Bryan: yes
- Macedo: yes
- Kalra: yes
- Pacheco: yes
- Sanchez: yes
- Bauer-Kahan: yes
- Connolly: yes
- Papan: yes
- Harabedian: yes
- Zbur: yes
Do pass.
2025-08-20 · pass · 15-0
Member-level votes (15)
- Fong: yes
- Arambula: yes
- Tangipa: yes
- Ta: yes
- Solache: yes
- Wicks: yes
- Caloza: yes
- Dixon: yes
- Pellerin: yes
- Jeff Gonzalez: yes
- Calderon: yes
- Pacheco: yes
- Elhawary: yes
- Hart: yes
- Mark González: yes
SB 362 Grayson Senate Third Reading By Blanca Rubio
2025-09-03 · pass · 79-0
Member-level votes (79)
- Pacheco: yes
- Flora: yes
- Schultz: yes
- Patterson: yes
- Ellis: yes
- Gabriel: yes
- Valencia: yes
- Petrie-Norris: yes
- Caloza: yes
- Gipson: yes
- Bauer-Kahan: yes
- Lee: yes
- Muratsuchi: yes
- Alanis: yes
- Elhawary: yes
- Zbur: yes
- Schiavo: yes
- Michelle Rodriguez: yes
- Macedo: yes
- Kalra: yes
- Rivas: yes
- Ortega: yes
- Berman: yes
- Davies: yes
- Connolly: yes
- Bains: yes
- Nguyen: yes
- Arambula: yes
- Garcia: yes
- Krell: yes
- Chen: yes
- Wilson: yes
- Mark González: yes
- Carrillo: yes
- Hadwick: yes
- Stefani: yes
- Blanca Rubio: yes
- Wicks: yes
- Gallagher: yes
- Jackson: yes
- Jeff Gonzalez: yes
- Ramos: yes
- Wallis: yes
- Alvarez: yes
- Addis: yes
- Ransom: yes
- Haney: yes
- Harabedian: yes
- Irwin: yes
- Solache: yes
- DeMaio: yes
- McKinnor: yes
- Patel: yes
- Quirk-Silva: yes
- Aguiar-Curry: yes
- Bennett: yes
- Hart: yes
- Castillo: yes
- Ward: yes
- Rogers: yes
- Ahrens: yes
- Dixon: yes
- Bryan: yes
- Sanchez: yes
- Calderon: yes
- Sharp-Collins: yes
- Lowenthal: yes
- Ávila Farías: yes
- Soria: yes
- Boerner: yes
- Pellerin: yes
- Ta: yes
- Hoover: yes
- Papan: yes
- Tangipa: yes
- Celeste Rodriguez: yes
- Lackey: yes
- Bonta: yes
- Fong: yes
Unfinished Business SB362 Grayson Concurrence
2025-09-08 · pass · 39-0
Member-level votes (40)
- Wahab: yes
- Niello: yes
- Jones: yes
- Laird: yes
- Choi: yes
- Rubio: yes
- McGuire: yes
- Cortese: yes
- Ochoa Bogh: yes
- Richardson: yes
- Reyes: yes
- Dahle: yes
- Valladares: yes
- Grayson: yes
- Limón: yes
- McNerney: yes
- Wiener: yes
- Padilla: yes
- Umberg: yes
- Hurtado: yes
- Blakespear: yes
- Menjivar: yes
- Cabaldon: yes
- Cervantes: yes
- Weber Pierson: yes
- Ashby: yes
- Durazo: yes
- Seyarto: yes
- Smallwood-Cuevas: yes
- Strickland: yes
- Allen: yes
- Arreguín: yes
- Grove: yes
- Pérez: yes
- Archuleta: yes
- Alvarado-Gil: yes
- Caballero: yes
- Gonzalez: yes
- Becker: yes
- Stern: other
Related bills
No related bills recorded for this bill.
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Data from openstates_bulk_csv, retrieved 2026-07-24T01:34:27.960412Z
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