Assembly committee advances four consumer-finance bills on disclosures, enforcement and home-improvement lending

The Assembly Banking and Finance Committee on Oct. 26 advanced four Senate measures that would change how consumer and small‑business financial products are regulated and enforced in California.

The committee voted to move SB 97 (updates to the digital financial‑assets licensing law), SB 362 (strengthening small‑business financing disclosures), SB 784 (new consumer protections and lender‑liability changes for contractor‑funded home improvement projects) and SB 825 (clarifying state enforcement authority for consumer financial laws) to subsequent committees for further consideration.

Why it matters: the bills aim to tighten disclosures and enforcement where committee members and witnesses said firms and third‑party contractors have left consumers — especially seniors, non‑English speakers and small businesses — exposed to costly or opaque financing terms. Committee members and authors said the measures are intended to complement federal law and to give California regulators tools to act if federal enforcement recedes.

SB 97: digital‑asset licensing updates Sen. Grayson presented SB 97 as a narrow set of clarifications and technical updates to the state's 2023 digital financial‑assets licensing framework. Supporters who spoke said the amendments reflect stakeholder consensus and preserve state licensing flexibility should Congress act. Jamie Minor of the California Blockchain Advocacy Coalition and Cassie Gilson (testifying on behalf of Andreessen Horowitz) expressed conditional support and asked for continued collaboration on scope and applicability. Robert Harrell of the Consumer Federation of California also testified in support, noting a transparent stakeholder…