Unlawful business practices.

(1) Existing law, the Consumer Legal Remedies Act, makes unlawful certain unfair methods of competition and unfair or deceptive acts or practices undertaken by any person in a transaction intended to result or which results in the sale or lease of goods or services to any consumer, including, among other things, advertising or promoting any event, presentation, seminar, workshop, or other public gathering regarding veterans' benefits or entitlements that does not include a specified statement. Existing law authorizes any consumer who suffers damages as a result of the use or employment by any person of a method, act, or practice declared to be unlawful, as described above, to bring an action against that person to recover or obtain damages, restitution, an order enjoining the methods, acts, or practice, or any other relief the court deems proper. This bill would include, as an unlawful practice prohibited under the act, advertising, offering for sale, or selling a financial product or service that is illegal under state or federal law, including a cash payment for the assignment to a 3rd party of the consumer's right to receive future pension or veteran's benefits. (2) Existing federal law prohibits payments of benefits due or to become due under any law administered by the United States Secretary of Veterans Affairs from being assignable. Under existing federal law, in any case where a beneficiary entitled to pension compensation enters into an agreement with another person under which agreement the other person acquires for consideration the right to receive the benefit by payment of a pension compensation, the agreement is deemed to be an assignment and is prohibited. Existing state law establishes a cause of action against any person who engages in an act of unfair competition, which includes any unlawful, unfair, or fraudulent business act or practice and unfair, deceptive, untrue, or misleading advertising, and any prohibited advertising act or practice. This bill would state an additional prohibition against advertising, offering, or entering into an agreement with a pension beneficiary that would involve an assignment of pension benefits.