Topline Q3 2015
Reviewed and monitored the 2,772 legislative measures introduced in 2015, identified 374 as having a potential impact on, or of interest to, the financial services industry and adopted new positions on 14 state legislative measures.
Secured enactment of a CBA-sponsored measure relating to local agency deposits. A second CBA-sponsored measure regarding mortgage debt forgiveness was passed unanimously by both houses of the Legislature and sent to the governor for his consideration.
Successfully secured enactment of four CBA-supported measures with an additional five measures passed by the Legislature and awaiting action by the governor.
Of the 20 measures we actively opposed, five were amended to remove our opposition, five were sent to the governor and await further action and ten failed passage, including measures that:
- Related to access to electronic communications (i.e. email accounts) that executors of an estate or trustees of a trust may seek relative to administering a decedent’s estate that negatively impacted banks serving as corporate trustees
- Allowed the California Earthquake Authority to offer financing for seismic strengthening improvements using a property assessed clean energy (PACE) funding mechanism similar to some energy efficiency improvements that result in a super-priority lien
- Revised the rate for taxpayers that are publicly held corporations
- Required entities suffering a data breach to provide a new notice to impacted customers in addition to the notice presently required
- Significantly increased homestead exemptions during bankruptcy proceedings above and beyond consumer price index adjustments as established in existing law
- Extended the current state sales tax to services, including financial services
Conducted 13 internal policy committee meetings. Participated in 64 meetings with legislators and their staff, 7 meetings with agency departments and 4 meetings with the governor’s office.
Met with the commissioner of the Department of Business Oversight to discuss the EMV liability shift for credit card and debit card transactions, which went into effect on October 1, and how requiring a PIN to complete the transaction does not provide any appreciable security benefits.
Successfully launched association’s new State Capitol Advocacy Leadership Program with a meeting of 12 representatives from CBA-member banks from the northern California region, who received a briefing from Assembly Minority Leader Catharine Baker and conducted 16 meetings with legislators and their staff at the state Capitol.
CBA hosted banking community events for Senators Marty Block, Ricardo Lara and Mike McGuire and Assembly Members Evan Low and David Hadley.
CBA participated in 28 Sacramento fundraisers for members of the California Legislature.
CBA conducted four district meetings with members of Congress.
CBA conducted three district meetings with members of the state Senate and four district meetings with members of the Assembly.
CBA co-hosted the 13th Annual Joint Washington, D.C. Visit in September. Thirteen CBA members were joined by their Florida Bankers Association colleagues and participated in the visit. The two associations met with six members of the House of Representatives, four U.S. senators and two regulators during the visit. Issues discussed included bank examination reform, community bank regulatory relief, preservation of Federal Reserve dividend payments, systemic risk designation and tailored bank regulation.
CBA members attended three district events for federal legislators.
Raised an additional $8,559 for the CBA State PAC (2015 total: $175,183-92 percent of goal) and an additional $3,529 for the CBA Federal PAC (2015 total: $86,359-80 percent of ABA goal).