AB 801: Nondiscrimination.

The bill establishes the California Community Reinvestment Act, which requires covered financial institutions to meet the financial services needs of low- and moderate-income communities and communities of color in which they conduct substantial business. The commissioner will assess the institution's record of performance every three years and assign a rating, which will be used to evaluate the institution's compliance with the act. The commissioner may prohibit institutions with certain ratings from receiving state funds or awards. The bill also authorizes the commissioner to investigate and examine institutions for compliance with state and federal laws, and establishes a community reinvestment fund to administer the provisions of the act. The commissioner may issue an administrative penalty of up to $100,000 to institutions that regularly fail to meet their obligations.