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CBA State Government Relations Department: Advocacy

CBA’s state advocacy is multi-faceted. We are the only banking trade association in California with a full-time state legislative advocacy team dedicated to protecting our members’ interests. We are in the capitol every day talking with legislators, key staff, policy committee consultants, regulators and executives in the governor’s office. We submit comment letters and deliver testimony on measures that our members have identified as priorities. We build coalitions with other entities that share our view.

Compliance Bulletin

Bill Creates New Real Estate Recording Fee
December 1, 2017

A bill enacted this year, SB 2, creates the “Building Homes and Jobs Act,” which promotes development of affordable housing across the state in part by imposing a new fee in connection with the recording of real estate instruments, papers, and notices. Proceeds go into a new state treasury fund called the Building Homes and Jobs Fund. Moneys collected will be made available to local governments and to the Department of Housing and Community Development. In addition to existing applicable recording fees, a fee of at least $75 is imposed at the time of recording (with a maximum of $225).

Compliance Bulletin

Congress Overturns CFPB’s Arbitration Regulation
November 3, 2017

With the Senate able to muster 51 votes to disapprove the CFPB’s arbitration regulation, which followed a similar action by the House of Representatives in July, that paved the way for the president to sign the joint resolution to make it official: the CFPB arbitration regulation is dead. The action was undertaken under the Congressional Review Act, which allows Congress to overturn a regulatory action through an expedited process.

Compliance Bulletin

New California Bill Restricts Criminal History Inquiry
October 30, 2017

A new bill, AB 1008, strictly regulates California employers’ ability to inquire about and use a job applicant’s conviction history. An inquiry is allowed only after a conditional offer of employment is made. The bill also creates procedural protections allowing the applicant to dispute information contained in a report. Importantly, an exemption is provided for any position that is subject to regulation by other laws.

Compliance Bulletin

New Bill Updates DBO Authority to Enforce Military Lending Act
October 30, 2017

A new California bill, SB 266, updates existing laws that give the Department of Business Oversight authority over California lenders’ compliance with the federal Military Lending Act (MLA). In 2015, Congress strengthened several provisions of the MLA by covering more types of transactions and enhancing disclosure requirements. SB 266 incorporates the 2015 changes.

 See CBA’s Regulatory Compliance Bulletin for more information.

Compliance Bulletin

Collateral Requirement for State Deposits Eased
October 9, 2017

A new bill, SB 363, decreases from 110% to 100% the value of collateral that a bank needs to pledge for state deposits if the collateral is a Federal Home Loan Bank (FHLB) letter of credit. The state Treasurer’s office considers FHLB letters of credit to have high credit quality and has come to prefer to take them as collateral when placing deposits with a bank. Under existing state law banks are required to pledge various forms of collateral in the amount of 110% of the amount of state deposits taken.

Compliance Bulletin

New Bill Limits Employer Inquiry About Salary History
October 16, 2017

A new bill, AB 168, prohibits an employer from relying on the salary history information of an applicant for employment as a factor in the hiring decision and what salary to offer. The rationale for the new law is that the gender wage gap is exacerbated when employers inquire about salary history and thus are in a position to perpetuate past salary discrimination. An applicant may voluntarily (without prompting) disclose salary history information to a prospective employer, and in that case the employer may consider that information “in determining the salary for that applicant.”

Compliance Bulletin

New California Bill Further Strengthens Borrow Protections in PACE Lending
October 9, 2017

New California bill further strengthens borrow protections in Property Assessed Clean Energy (PACE) lending. SB 242 was enacted in California that places a series of new requirements on PACE program administrators. These are third party administrators retained by public agencies to run the agency’s PACE program. Concerns have arisen because contractors who desire to perform the property improvements are also arranging the financing. SB 242 imposes a series of requirements intended to ensure that property owners understand the obligations that they are undertaking.