WBA in the News

Press release

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.

Press release

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.

Press release

Fix Dodd-Frank
Bankers want a surgical fix for Dodd-Frank. Learn more about the customers hurt by its overly burdensome rules.

Fix Dodd-Frank

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.

Press release

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your political stance, there is something that we should be able to agree on, and that is there are too many silly, outdated and overly restrictive laws affecting community banks and small credit unions, harming small businesses and their access to capital.”

Press release Mortgage Banking Magazine

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.

General information

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.

Press release

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.

Press release Sacramento Bee

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.

Announcement Pacific Coast Business Times

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.  

Announcement

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: