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.
California joins 40 other states, the District of Columbia, and Puerto Rico by enacting CBA-sponsored AB 1858, which requires the use of a person’s name as it appears on his or her driver’s license or DMV-issued personal identification card on UCC financing statements. Under existing practices, various versions of a debtor’s name could be listed on different financing statements, making it difficult for creditors to ascertain the existence or priority of statements a debtor or the subject property.
Governor Jerry Brown signed into law AB 1522, which requires all California employers to provide paid sick days to any employee who works 30 hours or more in a year, at a rate of at least one hour for every 30 hours worked. Sick leave taken must be paid at the employee’s normal rate earned during regular work hours. See CBA’s Regulatory Compliance Bulletin for more information.
Welcome to the CBA Federal Government Relations section, where you’ll find the latest information on federal banking legislation. In addition, you can find information about federal legislative alerts. Much of the information on this page is available to members only.
SACRAMENTO, Calif. – Today, the U.S. House of Representatives voted 258-159 to approve, S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. The bill, which passed the U.S. Senate in March on a strong bipartisan vote of 67-31 and now advances to the president for his signature, is designed to right-size banking regulations to allow banks to better serve their customers and their communities, while maintaining appropriate safety and soundness controls.
Register now to join your colleagues for CBA’s 2018 Annual Visit to Washington, D.C., scheduled for June 5-7, 2018, at the Liaison Capitol Hill Hotel. This annual trip to our nation’s capital provides us with an excellent opportunity to discuss key issues critical to banking with our elected officials and representatives from key regulatory agencies, and we hope we can count on your support and participation this year.
The U.S. Treasury Department has officially issued its 150-page report, making several recommendations for how Congress and the regulatory agencies can streamline bank regulation in a way that promotes economic growth.
New laws and regulations are constantly being proposed for the banking industry, both in Washington, D.C. and Sacramento. As well-intended as some of these proposals are, many of them contain language that conflicts with current law or conflicts with current regulatory requirements. Decision-makers need to better understand how their proposals translate into the real-world workings of California’s financial institutions, which is where our legal and regulatory advocacy unit is intrinsically valuable.
On April 3, 2018, the Financial Crimes Enforcement Network (FinCEN) issued a second set of FAQs to assist financial institutions in complying with the revised rules under the Bank Secrecy Act to clarify and strengthen customer due diligence (CDD) requirements for banks and other financial services entities.
Last month the CBA, via representation from the law firm of Bryan Cave LLP, sent a letter to two law firms in Pennsylvania that had sent a number of legally questionable demand letters to CBA member banks, alleging violations of the Americans With Disabilities Act with respect to website access. In the letter we raised a number of serious concerns we had about their firms’ allegations and tactics, and called upon the firms to retract the threats of legal action made against our member banks, and to cease and desist from making any future threats or demands.
The California Supreme Court invalidated one of its own opinions, the 2007 Gentry v. Superior Court (Circuit City) decision, which held that class action waivers in employment agreements are unconscionable and thus unenforceable. The continued viability of Gentry has been in doubt since the U. S. Supreme Court’s 2011 decision in AT&T Mobility LLC v. Concepcion, which held that arbitrating on a class-wide basis frustrates the fundamental purposes of the Federal Arbitration Act. In the current case, Iskanian v.