On May 20, 2020 the Banking and Finance Committee referred Bill No. 2524 to the Appropriations Committee. On June 2, 2020, the Appropriations Committee held a committee hearing on a number of bills, including Bill No. 2524. During the hearing, Bill No. 2524 was “Referred to APPR. suspense file.”
According to the California Legislature’s website, the Appropriations Committee’s Suspense File is where “any bill with a fiscal effect in any fiscal year of $150,000 or more (any fund source) will, by a majority of members present and voting, a quorum being present, move to the Suspense File. “Fiscal impact” includes any fiscal effect on any fund source. In addition, the committee will move to the Suspense File any bill the committee determines has the primary purpose of creating a task force, a commission, a work group, a pilot project or a pilot project extension, a report, or a study. The committee will hear a bill on the Suspense File just prior to the fiscal committee deadlines. When a bill is placed on the committee’s agenda as “From Suspense File – For Vote Only,” no testimony will be taken, and the authors need not be present.”
While pending in the Appropriations Committee the Bill must wait for the California state budget to be prepared before there will be another hearing on this Bill. If the state budget is prepared and the Appropriations Committee finds that there is not enough available revenue for Bill No. 2524, the Bill will remain in the Suspense File indefinitely.
Upcoming Shipkevich Webinar:
The Inception And Evolution Of The Telemarking Sales Rule (TSR) In The Debt Relief And Credit Repair Industries
Felix Shipkevich and Bianca Petcu of Shipkevich PLLC will host a two-part webinar to discuss the legal and regulatory evolutions of the U.S. FTC’s Telemarking Sales Rule (TSR). This webinar will discuss the regulatory scope of the TSR and its enforcement application by the FTC and CFPB. We will also discuss the TSR’s application and allegations made in recent CFPB enforcement actions against certain credit repair companies.
TOPICS FOR DISCUSSION:
- Regulatory scope of the TSR
- Discuss the TSR advance fee ban
- Discuss what type of disclosures are required under TSR
- TSR enforcement actions by the CFPB and FTC in the debt settlement industry
- Recent enforcement actions by CFPB and FTC against credit repair industry
- How does TSR affect debt relief and credit repair industries?
Part I: Scope of TSR: Inception of TSR and Application in the Debt Settlement Industry
Date: Tuesday, June 9, 2020
Time: 2pm EST / 11am PST
Part II: The Evolution of Applying the TSR from the Debt Settlement to the Credit Repair Industry
Date: Thursday, June 11, 2020
Time: 2pm EST / 11am PST