Governor Newsom has signed into law a bill by a Ventura County legislator designed to give you more protection against termination fees on contracts.
Installment contracts are often offered for things like internet or cell phone service, often with discounts if you agree to long term or ongoing agreements. They have a set fixed term, usually with monthly payments. But opting out of those agreements can sometimes be expensive, thanks to early termination fees.
AB 483 caps early termination fees at 30% of the total contract cost.
Democratic Assemblywoman Jacqui Irwin of Thousand Oaks authored the legislation. Irwin says thanks to the new law, consumers will know exactly how much it costs to opt out of a contract.
