{"id":2478005,"date":"2025-08-23T16:45:02","date_gmt":"2025-08-23T20:45:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ca-bill-to-give-interest-on-insurance-payments-to-homeowners\/"},"modified":"2025-08-23T16:47:10","modified_gmt":"2025-08-23T20:47:10","slug":"ca-bill-to-give-interest-on-insurance-payments-to-homeowners","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ca-bill-to-give-interest-on-insurance-payments-to-homeowners\/","title":{"rendered":"CA bill to give interest on insurance payments to homeowners"},"content":{"rendered":"

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The California Legislature has passed Assembly Bill 493, which mandates a minimum 2% interest payment on insurance claims held in escrow accounts to homeowners whose properties require repair or rebuilding due to natural disasters. This legislation was prompted by the recent wildfires in Los Angeles that displaced thousands of homeowners. Currently, lenders frequently enough hold insurance payouts in escrow to ensure the funds are used properly, and they typically keep any interest earned. The new bill closes a loophole by explicitly requiring lenders to pay this interest to homeowners without deducting fees. The measure aims to ensure that insurance payments<\/a> genuinely benefit affected families rather than financial institutions. The bill has received support from California Governor Gavin Newsom and is awaiting his signature to become law.

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