WBA in the News
Local banks pledge $100 million to finance affordable housing
Sacramento region affordable housing projects will see $100 million in new financing, through a new effort from five community banks that’s spearheaded by the Greater Sacramento Economic Council (GSEC).
The $100 million in financing is the first initiative by the newly formed Community Reinvestment Coalition, launched by the Greater Sacramento Economic Council. Smith said GSEC CEO Barry Broome brought regional banking leaders from First Northern, Five Star Bank, River City Bank, Suncrest Bank and Bank of the Sierra together to form the coalition
Read the article here.
UPDATE: WBA’s 2021 Annual Conference
The WBA has unfortunately made a difficult decision regarding our 2021 Annual Conference. With the COVID situation in Hawaii rapidly getting worse, we regretfully had to cancel our 2021 Annual Conference. With the social gathering restrictions tightening in the state of Hawaii, the hotel was very concerned that they would not be able to successfully accommodate us given the reconfigurations we would need to do for our meeting space and meal function locations. We are very disappointed we will not be able to host this event, but believe it is the best course of action to ensure the health and safety of everyone.
Please note that the hotel will be reaching out to all registered guests and cancelling all reservations in our room block, without any penalty. There is no need for you to directly call the hotel. The hotel has also informed us that if you wish to still visit the island and stay at the hotel property during our event timeframe, they will honor the group rate we had secured. Again, please note the hotel will be automatically processing cancellations and refunding any deposits you may have paid.
Please also be advised that a refund will automatically be processed for your conference registration fee – there is no action that you need to take. If you are a sponsor or exhibitor, we will also be processing your refund for this event. Please allow up to 10 business days for the refund to process.
We sincerely appreciate your support of the WBA and this conference, and wish the outcome could have been different. Please do not hesitate to reach out to us directly if you have any questions.
Message from Western Bankers Association President & CEO Stephen G. Andrews
These past few months have seen some positive improvements as it relates to the pandemic, the economy and the return to normal. Throughout this pandemic, the Western Bankers Association team has been laser-focused on our mission to serve this industry as an advocate and resource. We are looking forward to a busy end of summer and fall with a series of premier conferences and events as well as important advocacy initiatives and a joint Washington D.C. visit with our colleagues from Florida. Read more here.
Steve Andrews Op-Ed: Risky California public bank plan would duplicate services
WBA President & CEO Stephen G. Andrews has authored an opinion editorial addressing the banking industry’s concerns about a legislative proposal to create a public bank that would duplicate services already provided by banks. The opinion piece was published this morning by the Bay Area News Group and appeared in the East Bay Times and San Jose Mercury News.
In Case You Missed It: Steve Andrews Op-Ed in the Sacramento Business Journal
In case you missed it, on February 7, the Sacramento Business Journal published an opinion editorial titled, “Let’s hope Newsom’s proposed regulatory agency helps innovate financial se
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.
Past CBA Chair Rick Smith Opinion Editorial: Credit unions get unfair tax advantage
Past CBA chairman and TriCounties Bank President & CEO Rick Smith discusses the tax disparity between banks and credit unions in the Sacramento Business Journal.
Rod Brown Opinion Editorial: Credit Unions: A Tax Break That’s No Longer Justified
CBA President and CEO Rodney Brown discusses the credit union state and federal tax exemption in the Sacramento Bee.
Local Grower Hit With Mobile Deposit Scam
CBA featured in an ABC 30 Action News story regarding a scammer’s attempt to cash the same check more than once.
CBA President and CEO Responds to Sacramento Bee Swaps Editorial
CBA President and CEO Rodney Brown responded to the Sacramento Bee editorial “Banks collect a debt, as Congress raises money” in a letter to the editor, noting that swaps are a necessary tool for banks.
CBA President and CEO Sets Record Straight on Deposit Insurance
CBA President and CEO Rodney Brown rebutted FDIC Chairman Thomas Hoenig’s comments in a Los Angeles Times letter to the editor, published Sunday. Brown noted that “it’s the banking industry that bears all financial costs of supporting the FDIC, paying more than $12 billion each year to assure adequate funding.”
Rod Brown Opinion Editorial on “Do-Nothing” Congress, with Much Left to Do
CBA President and CEO Rodney Brown discusses the work yet to be done by Congress, including action on CBA-supported legislation affecting qualified mortgages, and the credit union federal tax exemption, in the Contra Costa Times.
Brown signs bill to extend loan modification tax relief to borrowers
CBA President and CEO Rod Brown on the importance of this bill to homeowners who received loan modifications in 2013.
L.A. Foreclosure Registry Struggles to Keep Track of Vacant Homes
VP of Communications Beth Mills discusses foreclosure registries that are aimed at keeping tabs of vacant foreclosed properties.
Banks are Warned About ATM Hacks
CBA President and CEO Rodney Brown discusses the increased attention banks are paying to cyberattacks and cybersecurity.
Rod Brown Opinion Editorial on Data Security
CBA President and CEO Rodney Brown discusses the shared responsibility of protecting consumer information in the San Jose Mercury News.
Dan Walters: There’s a darker side to Californians’ mortgage relief: big tax bills
February 18, 2014
Click hereto read the column in the Sacramento Bee discussing the California Bankers Association’s sponsored bill, Senate Bill 339, which would provide tax relief to Californians who were given principal reductions in 2013.
The California Test Case
Click here to read about the California Bankers Association’s perspective on the one-year implementation anniversary of the California Homeowner Bill of Rights in Mortgage Banking Magazine.
CBA Urges Community Banker Pick for Federal Reserve Board
The CBA recently joined the ABA and state bankers associations as signatories on a letter urging President Obama to nominate a community banker to serve on the Federal Reserve Board, which currently has multiple vacancies. The letter stresses the vital role community banks play in both their local economies and the overall national economy, and the key role the Federal Reserve plays in promoting the strength and vitality of community banks.
CBA Urges Community Banker Pick for Federal Reserve Board
The CBA joined the ABA and state bankers associations as signatories on a letter urging President Obama to nominate a community banker to serve on the Federal Reserve Board, which currently has multiple vacancies. The letter stresses the vital role community banks play in both their local economies and the overall national economy, and the key role the Federal Reserve plays in promoting the strength and vitality of community banks.
Banks Invest in Training to Raise a New Generation of Managers
Click here to read about how the California Bankers Association is helping train the next generation of California bankers.
Homeowner Bill of Rights Gets Mixed Reviews Nearly One Year On
Click here to hear a report on the nearly one year implementation of the Homeowner Bill of Rights.
Sacramento Bee Editorial: California Legislature should give struggling homeowners a break
Supports CBA-sponsored legislation, SB 30
Click here to read the Bee’s editorial urging lawmakers to pass CBA-sponsored SB 30, which will extend important tax relief to borrowers who under this legislation will not be required to report the amount of debt forgiven by a lender due to a negotiated short sale or principal reduction resulting from a loan modification.
Louise Walker Opinion Piece on Importance of Financial Education
Louise Walker, president and CEO of First Northern Bank, and CBA board member, discusses the importance of financial education in California’s high schools.
Benefits of Dodd-Frank Reforms Remain Unclear Three Years After Congress Approved Sweeping Banking, Finance Regulations
CBA President and CEO, Rodney Brown, comments in a Long Beach Business Journal article about Dodd-Frank, the now 8,000-page law involving more than 20 agencies.
Local Lenders Say U.S. ‘Qualified Mortgage’ Rules Go Too Far
CBA President and CEO, Rodney Brown, comments in an LA Times article regarding recent Consumer Financial Protection Bureau qualified mortgage rules.
Acuity with Rodney Brown
CBA President and CEO, Rodney Brown, is featured in Comstock’s Magazine’s Acuity with Rodney Brown: Banking on Business profile.
Mortgage Debt Forgiveness Bill Passes Committee
A proposal that would extend the tax relief on forgiveness of mortgage debt by conforming California law to federal law has been passed in the Assembly Revenue & Taxation Committee.
ATM Fraud on the Rise, Analysts Say
VP of Communications Beth Mills, discusses ATM fraud protection for consumers.
Rod Brown Opinion Piece on California Business Lending
CBA President and CEO Rodney Brown discusses how California banks are are open for business and are eager to make loans to qualified borrowers.
Another View: Banks back reasonable homeowner protections
CBA President and CEO Rodney Brown responds to a Sacramento Bee editorial, “Lawmakers need to stand up for homeowners”, supporting California AG Kamala Harris’ Homeowner BIll of Rights.
Palm Springs High School Graduates Students from CBA/EverFi Financial Literacy Program
KMIR TV 6 out of Palm Springs attended the graduation of 55 Palm Springs High School students who completed the California Bankers Association Financial Scholars Program, an innovative web-based platform, created by EverFiTM, that uses the latest in digital learning and gaming to educate students on critical financial topics.
Rod Brown Opinion Piece on Foreclosure Legislation
CBA President and CEO Rodney Brown discusses the banking industry’s concern with legislation contained in California AG Kamala Harris’ Homeowner’s BIll of Rights.
Blowing Bubbles: Could Dodd-Frank cause another financial disaster?
CBA President and CEO Rodney Brown, and board members Tom Meuser and Louise Walker, discuss the impact that Dodd-Frank will have on local banks.
Loan growth at California banks outpaces nation
The Los Angeles Times features a story on CBA’s Banking and Economic Update study, produced with Beacon Economics.
Banks struggle amid large debt minimal borrowers
CBA President and CEO Rodney Brown and Past Chairman Rick Smith discuss the issues that are affecting banks in the Sacramento region.
Rod Brown Opinion Piece on Financial Elder Abuse
CBA President and CEO Rodney Brown discusses the importance of protecting senior citizens from scams and elder financial abuse in a Santa Cruz Sentinel opinion piece.
Rod Brown Discusses Bank Transfer Day in Atascadero
CBA President and CEO Rodney Brown speaks with KSBY Santa Barbara about protesters in Atascadero who support the Bank Transfer Day movement, and notes the importance of the charitable support banks give to their local communities.
CBA President & CEO Rod Brown Discusses National Bank Transfer Day
CBA President and CEO Rodney Brown talks to CBS 5 about the National Bank Transfer Day, slated for November 5, reminding consumers to make sure that the new institution fits your needs before switching.
Area banker tells Fed chief how grim it is
CBA President and CEO Rodney Brown talks to Pacific Coast Business Times’ editor, Henry Dubroff, about CBA’s recent joint visit to Washington, D.C. and the remarkable opportunity to meet with Federal Reserve Board Chairman Ben Bernanke, who was joined by all four Fed governors.
CBA op-ed titled, “Banks support law to protect seniors from fraud”
CBA President and CEO Rodney Brown authored an op-ed, “Banks support law to protect seniors from fraud”, discussing CBA’s support for SB 33, which seeks to eliminate the sunset provision contained in California’s Financial Elder Abuse Reporting Act, passed in 2005.
KCBS Radio: Overdraft regulations
CBA President and CEO Rodney Brown discusses the new overdraft regulations with George Harris on KCBS radio.
KQED Public Radio: Dodd-Frank
CBA President and CEO Rodney Brown participated in a panel discussing the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Forum participants included:
San Jose Mercury News: The wrong approach to helping struggling borrowers stay in their homes
CBA President and CEO Rodney Brown authored a second op-ed, “The wrong approach to helping struggling borrowers stay in their homes,” on the proposed SB 1275, allowing borrowers to litigate when ineligible for a loan modification.
KMJ AM Radio: Financial regulatory reform
CBA President and CEO Rodney Brown spoke with Ray Appleton on the morning news program about financial regulatory reform and its potential impact on the industry and California.
Click the attachment to listen to the clip.
Sacramento Bee – “Another View: Homeowner protection bill misleads”
CBA President and CEO Rodney Brown authored an op-ed, “Another View: Homeowner protection bill misleads,” on the proposed SB 1275, which would create an avenue for borrowers to litigate when they are ineligible for a loan modification.
KQED Public Radio: Move your money
CBA President and CEO Rodney Brown participated in a panel discussing the “Move Your Money” campaign.
San Diego Union Tribune
CBA President Rod Brown discusses banks, lending and the credit unions’ push to expand their business lending authority.