Spencer Winkle — Welcomed as the Republican Policy Consultant to the committee.
Tim Grayson — Called during roll and present.
Tim Grayson — Present for roll call.
Tim Grayson — Voted aye on the consent calendar.
Tim Grayson — Addressed as chairman.
Maggy Krell — Likely intended as 'Nilo' in the roll call, but the transcript is unclear.
Sabrina Cervantes — Called during roll.
Sabrina Cervantes — Appears in the roll call on the consent calendar.
Melissa Hurtado — Melissa Hurtado is called during roll call/vote, but her response is unclear in the transcript.
Monique Limón — Monique Limón is called during roll and marked present, then appears again in the subsequent roll call vote sequence.
Monique Limón — Included in the consent calendar roll call.
Lori Wilson — Lori Wilson (Richardson) was called during roll and marked present, then voted aye on the consent calendar, and was subsequently recognized to present SB 505.
Tony Strickland — Tony Strickland was present, made the motion on the consent calendar, and then voted aye on the consent calendar.
SB546 — Listed on the consent calendar.
SB700 — Listed on the consent calendar.
SB505 — SB 505 is introduced and presented as a straightforward consumer protection bill aimed at strengthening security for Californians using digital wallets and money transmission services. The author explains that the bill requires digital wallet providers and money transmitters to use stronger identification, including two-factor or multi-factor authentication at login, to prevent unauthorized access and account takeovers before financial harm occurs. The bill is described as narrowly tailored, regulating only authentication at the point of login and not transactions, fees, or data collection, and it includes a delayed operative date of January 1, 2028. The author also notes openness to clarifying amendments, such as refining the definition of digital wallet, while preserving the bill’s consumer protection goals, and closes by urging support for the measure.
SB505 — SB 505 is moved with a due pass and re-refer motion to Appropriations, the committee takes a roll call vote, and the bill is ultimately reported out with five votes as the committee concludes its business.
primary witness — Chair asked whether a primary witness was present to speak.
Renee Bayardo — Submitted a letter and stated support on behalf of Rise Economy.
Jamie Miner — Testified as a supporter/neutral participant from the California Blockchain Advocacy Coalition and discussed remaining definitions.
Molly Corcoran — Spoke on behalf of Andreessen Horowitz and aligned comments with Seaback.
Jose Torres — Spoke on behalf of TechNet and described himself as a tweener.
TechNet representative — Said TechNet had opposed the original language but is re-evaluating its position after the new amendments.
Joe Patterson — Senator Nilo discussed SB 505 as a narrowly focused response to pervasive online scams and phishing. He expressed some trepidation about government mandating technical details and noted that technology evolves quickly, so protections like multi-factor authentication may not always be sufficient or may need to be replaced by future approaches. Even with those concerns, he said he could support the bill because it gives consumers an extra layer of protection, and he emphasized that the committee is trying to keep up with current fraud trends while leaving room to return with a better solution before the 2028 implementation date. The exchange concluded with praise for his ongoing work with industry and consumer advocates, followed by Senator Richardson being invited to close and then recorded as voting aye.
Shannon Grove — Senator Strickland participated in the SB 505 proceedings by making the motion and then voting aye.
Maria Durazo — Referenced in connection with SB 505 receiving five votes and being moved out of committee.