WBA in the News

Article

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.

Article

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.

Article

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.

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: