Compliance News: California Amends Requirements for Notice to Cosigner (Cx886)
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 the introductory paragraphs of Senate Bill No. 633:
“This bill would require the Notice to Cosigner to be provided to specified persons regardless of whether the persons are married to each other and would expand the languages into which the notices are required to be translated….