CBA in the News
California Bankers Association in the News
Read the latest news on the association and our members.
Small California credit union approved for major membership expansion
“…But bankers in the state said the expansion is just another example of credit union overreach.
Ana Helman, director of membership communications for the California Bankers Association, said large credit unions are competing more and more with banks, especially community banks, and should be held to the same standards as other financial institutions that provide similar products and services.
“The expansion of credit unions underscores the need to revisit their mission and the tax exemptions afforded them,” she said.”
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
A public bank would be risky, expensive and a potential waste of tax dollars
Editorial in the Los Angeles Times, May 27, 2019
“Proponents of public banks are certainly persistent. Study after study has thrown cold water on the idea of establishing a government-owned banking system that, in theory, would let public agencies lend out taxpayer dollars at lower interest rates than commercial banks and yield greater benefit for their communities.
Charter Amendment B is one of the most ill-conceived, half-baked ballot measures in years. Vote no
Editorial in the Los Angeles Times
“Charter Amendment B is one of the most ill-conceived, half-baked ballot measures to come out of City Hall in years, and that’s saying something. There’s been no formal study, no plan, nothing of substance completed to determine whether a Bank of Los Angeles is even feasible, much less a good idea. Voters are being asked to approve a vague concept and put their trust — and their money — in City Hall to figure it all out.”
Click here to read the full text of the editorial.
City-owned Bank? It’s a Bad Idea
Editorial in the San Fernando Valley Business Journal
Click here to read the editorial by Charles Crumpley, editor and publisher of the Journal.
LA adopts new rules for banks wanting to hold the city’s money
Listen and read the KPCC 89.3 story here.
A Waters-led banking panel may not be the scourge banks fear
Read the American Banker article here.
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.
Bill would allow limited-service banks for cannabis businesses
By Mark Anderson – Staff Writer, Sacramento Business Journal
Apr 20, 2018,
A bill before the California Senate would seek to create limited-service banks and credit unions for the cannabis industry, which is largely banned from using the regular banking system.
Call Kurtis Investigates: How Do I Cash Unused Traveler’s Checks?
Watch the story here, on Sacramento’s local CBS affiliate.