The Assembly Banking and Finance Committee will hear ab 1538 by Assemblymember Ted Lieu (D-Torrance), which will create a public-private fund to help homeowners facing foreclosure because of the subprime loan market.  The committee will also be hearing bills by Lieu to encourage banks to operate in underserved markets (AB 1502), and give financial institutions credit for supporting the environment (AB 786).

Assemblymember Ted Lieu (D-Torrance) is also the Chairman of the Banking and Finance Committee

AB 1538 would establish a program to assist homeowners facing foreclosure because of the downfall of the subprime mortgage market.  The bill would create a public-private fund to assist homeowners to avoid losing their homes, based on the owner meeting certain income and eligibility requirements. 

AB 786 will build on the groundbreaking work of AB 32 by allowing financial institutions to receive credit for financing projects that reduce Global Warming. 

AB 1502 establishes Banking Development Districts, whereby the State will assist and incentivize banks that move into underserved areas.