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Resources for Banks Impacted by Recent Wildfires

The California Bankers Association has prepared the following resources to aid financial institutions impacted by the recent fires in northern and southern California.

Announcements and Alerts

New website launched! Governor Gavin Newsom has just announced the launch of a new state website with tools and resources for Californians who have been impacted by wildfires and utility-directed power shutoffs.

Press release

Federal Reserve Seeks Comments on Faster Payment System

The Federal Reserve is considering the creation of the first new payment system in more than 40 years and it is important for your bank to be heard. The Federal Reserve issued a Request for Comment on whether it should consider creating a new, faster settlement infrastructure to support real time payments in the United States. The Fed seeks comment on the benefits of it creating a new Real Time Gross Settlement System (RTGS) that would operate 24/7/365 enabling payments to clear and settle on a real time basis at any time.

Press release

ACTION NEEDED! Community Reinvestment Act Reform and Modernization:  OCC Request for Public Comment

On August 28, 2018, the Office of the Comptroller of the Currency (OCC) issued an Advance Notice of Proposed Rulemaking (ANPR) concerning modernization of the Community Reinvestment Act (CRA). CRA modernization can become a reality, but achieving it requires the involvement of as many financial institutions as possible. The first step is to comment on the ANPR. The ANPR can be reviewed here

Press release

ABA Frontline Compliance Training Now Available!

As part of our partnership with the ABA, we are excited to announce a completely free online compliance training resource, Frontline Compliance, now available to our California based WBA member banks. This special offering also allows your bank access to the ABA’s Learning Management System (LMS) that has everything you need to train your entire workforce, track their progress and produce reports for both internal and bank examiner use.

Press release

ABA Compliance Resources Available at No Cost to WBA California Members

As part of our effort to strengthen our membership value proposition, we are exciting to announce a that the Western Bankers Association is partnering with the American Bankers Association to provide their exceptional compliance expertise to our California based member banks. This resource is available at no cost to your bank, and your bank does not have to be an ABA member.

Specifically, our partnership will allow eligible WBA member banks to access the following ABA compliance resources:

Press release

California Bankers Sign Letter to CFPB Regarding TRID Disclosure

On July 3, the ABA sent a letter, co-signed by several California bankers, to Consumer Financial Protection Bureau Director Mick Mulvaney, urging the bureau for regulatory relief from rules affecting residential construction lending. Specifically, the letter requests immediate action to exempt residential construction-only loans from the TRID disclosure regulation.