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.
“In March, the governor took early action regarding important residential mortgage relief, which included 90-day forbearance for Californians struggling from COVID-19 related financial distress. Numerous mortgage servicers voluntarily participated in that effort. Banks have also provided additional significant mortgage forbearance relief through the federal CARES Act.
“We are thankful to the governor, the Legislature and stakeholders for working together on a measure that provides meaningful relief. We are pleased to express our support for the compromise achieved in Assembly Bill 3088, and we respectfully urge that this measure move forward.”