530. A bank or credit union subject to the examination authority of the commissioner shall not charge a consumer a nonsufficient funds fee, as defined in Section 521, when the consumer’s attempt to initiate a transaction is declined instantaneously or near instantaneously by the bank or credit union due to nonsufficient funds.(Added by Stats. 2024, Ch. 509, Sec. 1. (AB 2017) Effective January 1, 2025.)
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