WBA in the News
In Case You Missed It: Wall Street Journal Highlights Credit Union Expansion Without Limits
In case you missed it, on August 1 the Wall Street Journal published an article highlighting a credit union’s plan for growth with “no speed limit.” The CEO of the credit union, Pentagon Federal Credit Union (PenFed), has a very public plan called “Drive to 75,” with a goal of “pressing regulatory boundaries” by more than quadrupling the credit union’s assets from approximately $18 billion to $75 billion by 2025. According to the article, the credit union advertises “Great Rates for Everyone” despite the common-bond requirement.
Proposed US banking fix for marijuana may not open all doors
A proposal in Congress to ease the U.S. ban on marijuana could encourage more banks to do business with cannabis companies, but it appears to fall short of a cure-all for an industry that must operate mainly as a cash business in a credit card world.
Read the Associated Press story here.
A Waters-led banking panel may not be the scourge banks fear
Read the American Banker article here.
Cannabis conundrum: What to do with billions of dollars that banks won’t touch
What to do with billions of dollars that banks won’t touch
By Mark
Anderson – Staff Writer, Sacramento
Business Journal
Nov 17, 2017
The billions that will be generated from California’s soon-to-be-legal recreational marijuana industry cannot be banked legally.
And that presents a real conundrum for companies that sell pot.
Central Valley Businesses Give Back
Local members of the California Bankers Association are supporting several philanthropic endeavors in the Central Valley community, via the Central Valley Business Times. For example, in 2016 CBA member banks across California donated nearly $82 million.
Simone Lagomarsino in SNL: Housing Greatest Concern as California Wildfires Continue to Rage
As bankers continue to survey losses associated with the
catastrophic wildfires wreaking havoc in Northern California and
some southern portions of the state, housing appears to be a top
concern. CBA President & CEO Simone Lagomarsino
discusses how bankers are working
together to rebuild communities.
Simone Lagomarsino Oped: Bank regulation reform bills offer sensible solutions to promote economic growth
CBA President & CEO Simone Lagomarsino discusses the need for regulatory reform to promote economic growth in an Orange County Register oped.
Simone Lagomarsino Oped: Sensible Solutions for California’s Economic Growth
CBA President & CEO Simone Lagomarsino authored an oped the appeared in this weekend’s East Bay Times, calling for Congress to act on a tailored approach to the current regulatory system.
Orange County Register Editorial: Operation Choke Point is finally suffocated
CBA President and CEO, Simone Lagomarsino, discusses Operation Choke Point, and the regulatory requirements that force bankers to spend much of their time and money intrusively policing their own customers in an Orange County Register editorial.
Florida and California Bankers, Far Apart but Flying Together
CBA President and CEO Simone Lagomarsino and Florida Bankers Association President and CEO Alex Sanchez discuss the upcoming joint Washington, D.C. Visit with Bloomberg.
Simone Lagomarsino Santa Maria Sun Opinion Editorial: Credit Unions’ Tax Exemption no Longer Justified
CBA President and CEO Simone Lagomarsino says the credit unions’ tax exemption is no longer justified.
Fix Dodd-Frank
Bankers want a surgical fix for Dodd-Frank. Learn more about the customers hurt by its overly burdensome rules.
The CBA is pleased to share with you the following video we have created that highlights the negative impact the qualified mortgage and ability to repay rules contained in the Dodd-Frank Act are having on banks’ lending activities. The video is intended to be a resource for all bankers to use to highlight the need to fix specific elements of Dodd-Frank, particularly QM/ATR, as you meet with local elected officials, community leaders, or in forums with your customers. Please also feel free to share and link to the video on your social media platforms.
Simone Lagomarsino Sacramento Bee Opinion Editorial: Trial attorneys are the real winners in class-action lawsuits
CBA President and CEO Simone Lagomarsino says Senate Bill 33, a measure that seeks to promote class action lawsuits, makes trial attorneys, not consumers, the winners.
Another Voice: Starting a Conversation on Bank Rules
Golden Pacific Bank’s President and CEO Virginia Varela says in Another Voice: Starting a Conversation on Bank Rules in the Sacramento Business Journal, “No matter what your political stance, there is something that we should be able to agree on, and that is there are too many silly, outdated and overly restrictive laws affecting community banks and small credit unions, harming small businesses and their access to capital.”
Rod Brown Sacramento Bee Opinion Editorial: Trump is right to order review of the impact of banking regulations
CBA President and CEO Rodney Brown says White House is right to seek regulatory balance by reviewing the impact of banking regulations.
Effects Of New Legislation, Propositions And Presidential Race On The Financial Services Industry
SVP of Communications and Marketing, Beth Mills, discusses state legislation affecting the financial services industry.
Rod Brown Sacramento Bee Opinion Editorial: Solar panel loans have spun out of control
CBA President and CEO Rodney Brown discusses CBA-sponsored bill AB 2693 that seeks to make important changes to property assessed clean energy (PACE) financing, which ignores longstanding lending principles and fails to make important disclosures to borrowers.
Rod Brown Discusses Dodd-Frank Regulations in the Long Beach Business Journal
CBA President and CEO Rodney Brown discusses the regulatory burden banks continue to face as the Dodd-Frank Act still rolls out in the Long Beach Business Journal.
Rod Brown Opinion Editorial: Now is a good time to fix Dodd-Frank
CBA President and CEO Rodney Brown discusses the fifth anniversary of the Dodd-Frank Act in the Orange County Register and two legislative fixes currently being considered that make several common-sense changes to the law.
Rod Brown Opinion Editorial: Let’s ‘Celebrate’ Dodd-Frank’s Anniversary by Fixing it
CBA President and CEO Rodney Brown provides commentary on the fifth anniversary of the Dodd-Frank Act – a sweeping overhaul of the nation’s financial regulatory system - in the Contra Costa Times.