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.
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your political stance, there is something that we should be able to agree on, and that is there are too many silly, outdated and overly restrictive laws affecting community banks and small credit unions, harming small businesses and their access to capital.”
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.
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.
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 Rodney Brown rebutted FDIC Chairman Thomas Hoenig’s comments in a Los Angeles Timesletter 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.”
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.