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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.
Federal legislation, the Community Lending Enhancement and Regulatory Relief (CLEAR) Act, has been introduced in the Senate and the House that would relieve regulatory burdens on community banks. Sens. Jerry Moran (R-KS), Jon Tester (D-MT), and Mark Kirk (R-IL) have introduced S. 1349 in the Senate, and Rep. Blaine Luetkemeyer (R-MO) has introduced H.R. 1750 in the House. The CLEAR Act is part of a sincere effort underway in Congress to address community banks’ concerns with growing regulatory burdens.
Regulators ensure that the banks they supervise comply with all rules and regulations by having examiners visit banks on a regular basis to review their books. Although the details vary by the size and complexity of the institution, a bank “examination” consists of a detailed scrutiny of bank assets, liabilities, income and expenses. The exam process is designed to confirm that the bank is safe and sound, maintains accurate financial statements, and is properly following all applicable laws and regulations.
Commercial banks play a major role in offering customized mortgages and consumer loans tailored to fit the unique characteristic of borrowers within their communities. Banks also are oftentimes the sole financial service provider in many of our nation’s smallest rural small towns. However, the compliance burdens and risks imposed by several requirements of the Dodd-Frank Act (DFA) and implementing regulations, particularly in the area of mortgage credit, have had negative impacts on banks, their customers and the housing market.
CBA President and CEO Rodney Brown provides commentary on the fifth anniversary of the Dodd-Frank Act – a sweeping overhaul of the nation’s financial regulatory system - in the Contra Costa Times.
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 discusses the regulatory burden banks continue to face as the Dodd-Frank Act still rolls out in the Long Beach Business Journal.
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.
Rod Brown Sacramento Bee Opinion Editorial: Trump is right to order review of the impact of banking regulations
CBA President and CEO Rodney Brown says White House is right to seek regulatory balance by reviewing the impact of banking regulations.
CBA President and CEO, Simone Lagomarsino, discusses Operation Choke Point, and the regulatory requirements that force bankers to spend much of their time and money intrusively policing their own customers in an Orange County Register editorial.