Newsroom
Welcome to the Newsroom
Our communications team works to provide members, news media and the public with the most up-to-date information relating to the association and the banking industry. Our communications efforts seek to emphasize the value of banks and their service to the community, as well as providing information on the many regulatory and legislative changes the industry is facing in this extraordinary climate.
California Bankers Association will oppose latest climate legislation
“We expect to maintain our position and continue to oppose measures that present liabilities for institutions and customers and mandate disclosures that may not be reliable or even feasible,” the California Bankers Association said in a statement to American Banker.
Small California credit union approved for major membership expansion
“…But bankers in the state said the expansion is just another example of credit union overreach.
Ana Helman, director of membership communications for the California Bankers Association, said large credit unions are competing more and more with banks, especially community banks, and should be held to the same standards as other financial institutions that provide similar products and services.
“The expansion of credit unions underscores the need to revisit their mission and the tax exemptions afforded them,” she said.”
Local banks pledge $100 million to finance affordable housing
Sacramento region affordable housing projects will see $100 million in new financing, through a new effort from five community banks that’s spearheaded by the Greater Sacramento Economic Council (GSEC).
The $100 million in financing is the first initiative by the newly formed Community Reinvestment Coalition, launched by the Greater Sacramento Economic Council. Smith said GSEC CEO Barry Broome brought regional banking leaders from First Northern, Five Star Bank, River City Bank, Suncrest Bank and Bank of the Sierra together to form the coalition
CBA Responds to AB 1177, the California Public Banking Option Act
SACRAMENTO, Calif. – The California Bankers Association (CBA), issued the following statement in response to today’s press conference supporting AB 1177:
“Here we go again with the annual introduction of yet another bill seeking to introduce public banking to California. Despite voter rejection of the idea at the polls and public opinion polling indicating Californians’ opposition to the concept, advocates are nonetheless back pushing an idea with limited support.
California Banks & COVID Relief Efforts
Since the beginning of this pandemic, California’s banks have been outreaching and working proactively with customers to minimize the adverse financial effects of this crisis. Beyond the proactive efforts by individual banks and the work they have been doing to implement and deploy relief made available through state and federal programs, we continue to encourage customers experiencing hardships to reach out early and immediately to their financial institution given their unique personal financial situation.
The California Bankers Association Urges Support for Assembly Bill 3088
SACRAMENTO, Calif. – The California Bankers Association (CBA) released the following statement regarding Assembly Bill 3088:
“Our members have worked proactively with their customers since the beginning of this pandemic to provide important financial relief, including the forbearance of mortgage payments.
California Banks Remind Small Businesses that Funds are Still Available under the Paycheck Protection Program
SACRAMENTO, Calif. – The California Bankers Association released the following statement regarding the distribution and availability of funds available through the second round of the Small Business Administration’s Paycheck Protection Program (PPP):
Californians Without a Bank Account Encouraged to Explore Options in Advance of Stimulus Check Disbursement
SACRAMENTO, Calif. – Eligible Californians are expected to soon be receiving federal stimulus benefits, as part of the coronavirus economic relief package passed recently by Congress. Known as economic impact payments, it is estimated that this relief will bring $25 to $30 billion in funds to Californians who are struggling during these challenging times brought about by the COVID-19 pandemic.
California Banks Encourage Outreach, Assisting Customers and Communities
SACRAMENTO, Calif. – The California Bankers Association released the following statement today regarding California’s banks ongoing assistance and outreach efforts during the COVID-19 crisis.
The California Bankers Association Encourages Homeowners to Reach Out Regarding Mortgage Hardships
SACRAMENTO, Calif. – The California Bankers
Association (CBA) released the following statement regarding
homeowners who might experience difficulty making mortgage
payments in light of the COVID-19 national emergency:
The California Bankers Association Announces California Industry Response to Coronavirus
SACRAMENTO, Calif. – The California Bankers Association (CBA) released the following statement regarding the California banking industry’s response to the coronavirus (COVID-19):
“California banks are actively monitoring the latest reports from the Center for Disease Control and taking numerous precautions to help ensure the safety of their customers and employees. Banks have well-developed business continuity plans and are prepared and ready to help their customers in this time of need.
The California Bankers Association Responds to DBO Restructuring Announcement
SACRAMENTO, Calif. – The California Bankers Association (CBA), issued the following statement today in response to the announcement that the Department of Business Oversight will be restructured and renamed the Department of Financial Protection and Innovation:
The California Bankers Association Highlights Economic Impact of Banks Doing Business in California
SACRAMENTO, Calif. – The California Bankers Association (CBA) has released an updated report that examines the critical role banks play in supporting California’s economy and the communities where they do business. The report, prepared by Beacon Economics, examines and identifies a number of direct economic impacts banks have, as well the considerable contributions banks make to California’s economy through what are referred to as indirect effects.
Key findings include:
The California Bankers Association Responds to Wildfires and Public Safety Power Shutoffs
SACRAMENTO, Calif. – The California Bankers Association (CBA) released the following statement regarding the recent wildfires burning across the state, and the recurring public safety power shutoffs (PSPS):
“California banks are deeply committed to the communities that we serve. We stand ready to assist and help our customers who have been impacted by the recent wildfires or public safety power shutoffs.
The California Bankers Association Response to Signing of AB 857
SACRAMENTO, Calif. – The California Bankers Association (CBA), issued the following statement today in response to Governor Newsom signing Assembly Bill 857 into law:
A public bank would be risky, expensive and a potential waste of tax dollars
Editorial in the Los Angeles Times, May 27, 2019
“Proponents of public banks are certainly persistent. Study after study has thrown cold water on the idea of establishing a government-owned banking system that, in theory, would let public agencies lend out taxpayer dollars at lower interest rates than commercial banks and yield greater benefit for their communities.
New Poll Shows Majority of Californians Oppose Government-Run Public Banks
SACRAMENTO, Calif. – The California Bankers Association (CBA) released the results of a poll conducted by FM3 Research that shows the vast majority of Californians oppose government getting into the business of banking. Currently, there is a measure before the California Legislature, Assembly Bill 857, authored by Assembly Members David Chiu of San Francisco and Miguel Santiago from Los Angeles, which allows for the creation of government-run public banks at the municipal level.
Charter Amendment B is one of the most ill-conceived, half-baked ballot measures in years. Vote no
Editorial in the Los Angeles Times
“Charter Amendment B is one of the most ill-conceived, half-baked ballot measures to come out of City Hall in years, and that’s saying something. There’s been no formal study, no plan, nothing of substance completed to determine whether a Bank of Los Angeles is even feasible, much less a good idea. Voters are being asked to approve a vague concept and put their trust — and their money — in City Hall to figure it all out.”
Click here to read the full text of the editorial.
City-owned Bank? It’s a Bad Idea
Editorial in the San Fernando Valley Business Journal
Click here to read the editorial by Charles Crumpley, editor and publisher of the Journal.
LA adopts new rules for banks wanting to hold the city’s money
Listen and read the KPCC 89.3 story here.