I'm following up on an urgency bill that takes effect imediately upon passage - AB 1068 Notice of Errors on Credit Reports. It is my understanding that AB168 required us to verify with the consumer when we discover that the address in a credit bureau does not match the address of the credit applicant.

With AB 1068 it amends AB655 to make the verification requirement applicable only when we extend credit.
Has anyone published anything on this? Did it pass for sure? I've pulled a history of the bill, it would be nice if there was a publication with the required bullet points etc.

Cheryle, go to the following website to pull up bills in California.

http://info.sen.ca.gov/cgi-bin/pagequery?type=sen_bilinfo&site=sen&title=Bill+Information

That link is to the Senate only. To get both the Senate and the Assembly, go to:

http://www.leginfo.ca.gov/bilinfo.html

If a bill is enacted, we call it "Chaptered" (just don't ask me to explain that term).

Oops! Thanks, Al.

Thank you both very much!

I had heard that there were some 22 states that were planning to adopt this same legislation. Does anyone know which 22 states were included? Thanks.

Yesterday I checked the status prior to my Compliance Council meeting and saw the bill is "inactive" and "LAST HIST. ACTION : Enrolled and to the Governor at 3 p.m." - guess we'll have to wait till after the election.

Al,

On the history of the bill if it shows "chaptered" on the history report does that mean it has passed and we must comply?

Okay, AB 1068 apparently has new amendments in conjuction with old law requirements that pertain to employers and notice requirements.

I'm looking for the english version of the bill that not only outlines the requirements for extension of credit but also the section that bullet points the changes for employers. I'm okay with the notice requirements for employers and the consent to have a consumer report obtained etc. I would like to know more about the background check requirements as we currently conduct background checks.
Thanks,

Cheyle:

How are you getting consistent notification of the new bills and how they will apply? I seem to be behind the ball on this factor. Thank goodness for BOL

Tina, there is a little help on the CA legislation (if you know about it). You can subscribe for e-mail notification of all action on a particular bill. Two caveats. Many times the bill is changed significantly before enactment, and your efforts may be a waste of time. Also, there is a limit on the subscriptions to a particular e-mail address. The "work around" for that is to subscribe in co-worker's names and they can forward the e-mail to you when received.

The "how they will apply" question is the more difficult. There are hundreds of bills every year. The CA Bankers Association has legislative analysts who track the ones that apply to banks, but there is nothing in place for them to pass the information along. If your bank is a member of CBA, put pressure on them. Send an e-mail describing what you want to Maurine Padden (the Senior Legislative Counsel) at:

mpadden@calbankers.com

I suggested this service at the CBA conference last month, but they need more than 1 request.

Maybe we need to do the same at ABA.

Al,

I have been reading AB1068 and AB655. Are we determining that AB1068 overrides AB655 due to the "approval of credit" portion and the "written notice to a victim of identity theft" What I understand is we are to verify the incorrect address with the consumer and document this in our file. However I am confused a bit on the written notice. Would that be if we found out the transaction was identity theft or if we were notified by the credit reporting agency? Since the credit reporting agency was provided this information from the consumers, it would seem senseless to notify them...they already know.

Has anyone developed a letter to advise the customer that they would be willing to share?