Fin. Code, § 521 · Article 2. Reports
Fin. Code, § 521
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A bank or credit union subject to the examination authority of the commissioner shall report annually, on or before March 1, to the commissioner on the amount of revenue earned from overdraft fees and nonsufficient funds fees collected in the most recently completed calendar year and the percentage of that revenue as a proportion of the net income of the bank or credit union.
(b) (1) The commissioner shall publish, pursuant to paragraph (2), in a report the data for each bank or credit union required by subdivision (a) and make the report available on the department’s internet website.
(2) (A) The commissioner shall publish the first report required by this subdivision on or before March 31, 2023, covering data from the 2022 calendar year.
(B) In a calendar year beginning on or after January 1, 2024, the commissioner shall publish the report required by this subdivision on or before March 31 covering data from the most recently completed calendar year.
(c) As used in this section:
(1) “Nonsufficient funds fees” means fees resulting from the initiation of a transaction that exceeds the customer’s account balance if the customer’s bank or credit union declines to make the payment.
(2) “Overdraft fees” means fees resulting from the processing of a debit transaction that exceeds a customer’s account balance.
Notes and commentary — not statutory text
History
Added by Stats. 2022, Ch. 847, Sec. 1. (SB 1415) Effective January 1, 2023.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=521.
- Text hash
- sha256 0838cd59c624cb99377e8483975469e4a2f76b18da898f82ce6408d836235bd5
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 1 provision
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Financial Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.