Consumer Protection Legislation: AB 372 strengthens protections for California consumers by reducing barriers to obtain a security freeze on consumer credit reports. Identity theft is one of the fastest growing financial crimes in the U.S. and nearly 10 million Americans fall victim to it each year. Unfortunately, most consumers are unaware of one of the best ways to protect against identity theft – placing a security freeze on their credit report. AB 372 introduced by Assemblymember Mary Salas and signed by Governor Arnold Schwarzenegger aims to ensure all consumers are informed of their right to place a security freeze on their credit report while also making it more accessible and affordable. Specifically, AB 372 requires a credit reporting agency to disclose the right of a consumer to place a security freeze on their credit report, requires a credit reporting agency to place a freeze within three days of a request, allows consumers to request a freeze by regular written mail instead of certified mail and lowers the fee a credit reporting agency may charge to place a freeze from $12 dollars to $10 or $5 for consumers 65 and older.
SB 1448 was introduced by Senator Jack Scott and signed by the Governor, will help deter unlicensed individuals from attempting to practice real estate law in California by increasing monetary penalties. It doubles the fine of an unlicensed person acting in a capacity that requires a real estate license to $20,000 and increases the fine for an unlicensed corporation from $50,000 to $60,000. Additionally, it authorizes portions of these fines to go to the Real Estate Fraud Prosecution Trust Fund in counties throughout the state to enhance the capacity of local law enforcement to deter, investigate and prosecute real estate fraud crimes. More information on how to protect against identity theft can be found on the California Office of Privacy Protection Web site at http://www.oispp.ca.gov/consumer_privacy/identitytheft.asp.
Statistics show that paying for your next commercial car wash could be much more water-efficient than doing it yourself with the garden hose. A typical commercial car wash uses 100 gallons less water per car wash than a home wash, and, in many cases, professional car wash facilities also reuse and recycle the rinse water.
California’s energy policies have been significantly impacted by the passage of AB 32, which requires the state’s greenhouse gas emission to be reduced to 1990 levels by 2020. Promoting energy efficient technologies and practices to create a “smart home” will help ensure that California residents meet their future energy needs. Such smart home technologies and practices must also ensure air quality is not adversely impacted.
The South Coast Air Quality Management District (AQMD) is hosting a one-day free forum and roundtable of experts discussing energy efficient technologies for the home using smart metering, LEED certification, energy efficient appliances and consumer electronics, home energy storage, distributed generation, and reducing your carbon footprint. The panel will offer presentations in the morning, followed by a roundtable discussion and public question and answer period in the afternoon.
The Home Energy Management Workshop will be held on July 31st from 9 a.m. to 4 p.m., at the South Coast AQMD Headquarters Auditorium, 21865 Copley Drive, Diamond Bar 91765. (Source: REALTORS® Committee on Air Quality (RCAQ)
The Federal Reserve Board approved a set of new rules, effective October 1, 2009, pertaining to home mortgage loans aimed at better-protecting consumers and ensuring responsible lending practices. The new rules prohibit unfair, abusive, or deceptive home mortgage lending practices and restrict certain other mortgage practices. In addition, the rules establish a new set of advertising standards for the mortgage lending sector and require certain mortgage disclosures to be given to consumers earlier in the home-buying transactions.
The California State Legislature has enacted a set of foreclosure reforms to address the adverse effects of high foreclosure rates in California. The new law requires lenders to contact homeowners to explore options for avoiding foreclosure at least 30 days before filing a notice of default. The law also requires owners acquiring property through foreclosure to maintain the exterior of vacant residential properties, and extends from 30 to 60 days the time for residential tenants to vacate properties that have been foreclosed upon, unless other laws apply.
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