Last Thursday, the CBA hosted a productive meeting with representatives from the United States Department of the Treasury, the state’s California Capital Access Program (CalCAP), the Small Business Loan Guarantee Program (SBLGP) and bankers representing 10 California banks. The purpose of the meeting was to discuss the State Small Business Credit Initiative. California is slated to receive a total of $168 million in federal funds over the duration of the initiative invested into the state’s CalCAP and SBLGP.
The California Supreme Court declined to review Jolley v. Chase Home Finance LLC, which allowed the lender to be sued on negligence grounds in connection with its decision not to modify a delinquent construction loan secured by residential rental property. The court declined to follow the well-established principle that a lender owes no duty of care to a borrower other than as set forth by agreement as long as it does not actively participate in the borrower’s transaction.
Last week, the U.S. Treasury published revisions to its federal garnishment rule, which was first issued in 2011. The rule seeks to protect certain government benefit payments from being garnished. The changes clarify definitions such as “account” and “garnishment order” (to include orders or levies issued by a state, state agency, or municipality) and include additional details about how banks can charge a garnishment fee.
The deadline to participate in CBA’s Compensation and Benefits Benchmark survey has been extended to June 14. By participating, your bank will receive a significant discount when purchasing the survey results. Join the California banking industry in the participation of the survey, known for its comprehensive salary, incentive and commission compensation data points, and human resources and benefits best practices.
The FDIC San Francisco Region is pleased to announce the continuation of Community Bankers Workshops.The Division of Depositor and Consumer Protection is offering a one-day event and a half-day event covering current topics of interest.
The workshops are interactive and intended to further the FDIC’s dialogue with the industry.
CBA’s five-day Regulatory Compliance School will help you develop an essential technical understanding of major compliance issues, and lay the groundwork for developing and maintaining an effective compliance program. The program is designed around three core modules: