As previously announced, California Senate Bill No. 633 amends requirements for consumer credit contracts, particularly those regarding the Notice to Cosigner. These amendments are effective January 1, 2023.
Per an introductory paragraph of Senate Bill No. 633:
“The bill would require the Department of Financial Protection and Innovation to make translations of the notices available in the required languages on its internet website by January 1, 2023, and would require additional translations of any languages subsequently added to state law.”
On December 12, 2022, the California Department of Financial Protection and Innovation posted the new Notice to Cosigner translations on their website. The English translation has not changed, but the Spanish translation has. Consequently, California Notice to Cosigner (Cx886) is being updated to reflect the new Spanish translation.
These changes will be in effect on December 28, 2022. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.