AB 1365: CalAccount Program.

The bill establishes a voluntary, zero-fee, zero-penalty, federally insured transaction account and related payment services for all Californians. It requires financial institutions to ensure access to ATM networks and locations for account holders. The state will establish a fund to support the program and employers and hiring entities must maintain a payroll direct deposit arrangement to allow worker participation. The program will be administered by a commission and annual reports will be submitted to the governor and legislature. The commission will also investigate complaints of employers or hiring entities failing to allow workers to participate and impose civil penalties for violations. Additionally, the bill requires landlords to allow tenants to pay rent and security deposits by electronic funds transfer from a CalAccount.