Topline Q2 2014
Reviewed and monitored the 2,208 legislative measures introduced in 2014 and identified 411 as having a potential impact on or of interest to the financial services industry. Continued to monitor 190 remaining active measures from 2013 (first half of Legislative Session), with 98 bills identified as having a potential impact on or of interest to the financial services industry. Adopted positions on 41 new state legislative measures.
Sponsored three legislative measures to: 1) amend Article 9 of the Uniform Commercial Code (UCC), pertaining to secured transactions involving commercial loan business borrowers; 2) extend important tax relief to residential mortgage borrowers receiving principal reduction resulting from a short sale or loan modification; and 3) correct an ambiguity in the law stemming from legislation in 2013 amending California’s Uniform Principal and Income Act that unintentionally caused a redirection of distributions from mutual fund proceeds to principal rather than income
Conducted 33 internal policy committee meetings.
Participated in 104 meetings with legislators and their staff, state agency departments and the governor’s administration.
Defeated or successfully amended 10 higher priority measures in the areas of: the voiding of real property instruments related to the falsification or forgery of real property documents; termination of home equity lines of credit; service of legal process; net operating loss carrybacks; data sharing; online data brokers; super priority liens; credit card regulation; debt collection and government contracts.
Provided CBA member testimony at the Senate Committee on Banking and Financial Institutions Informational Hearing on the Homeowner Bill of Rights.
Hosted a telebriefing for 61 attendees of the CBA Annual Legislative Conference to provide an overview of the issues CBA has identified as top priorities to the industry and to help attendees to navigate the state Capitol and meetings with legislators.
Conducted CBA’s 61st Annual Legislative Conference with 110 CBA members, representing 28 banks in attendance. CBA members and staff held 108 meetings at the capitol with 74 Assembly Members and 34 State Senators.
Provided legislative briefings to the National Association of Bank Advocates and the California State Bar Financial Institutions Committee.
Conducted five state legislative grassroots meetings attended by CBA members.
CBA members participated in district fundraisers for House Majority Leader-Elect Kevin McCarthy, Congressman Ken Calvert and Assembly Member Kristin Olsen.
CBA hosted banking community events for the Speaker of the Assembly Toni Atkins, former Speaker of the Assembly and Senate District 18 candidate Robert Hertzberg and Assembly Member Mike Gatto.
CBA participated in 31 Sacramento fundraisers for members of the state legislature and state legislative candidates.
In June, more than a dozen CBA members met with 14 members and staff of the California congressional delegation and various members of the House Committee on Financial Services during the annual visit to Washington, D.C. Issues discussed included support for eliminating the credit union tax exemption and opposition to expansion of credit union business lending authority, support for government-sponsored enterprises reform, support for mortgage lending regulatory relief and objections to the proposed liquidity rule (Reg WW).
Participated in the ABA’s monthly grassroots conference calls.
Raised an additional $51,950 for the CBA State PAC (2014 total: $179,424 – 97 percent of goal) and an additional $8,846 for the CBA Federal PAC (2014 total: $59,226 – 70 percent of goal).