Dear Members,
I am pleased to provide an update on the Association's ongoing efforts to represent and advocate for our members. As always, ensuring that your voices are heard and your interests are protected across the financial industry remains our top priority.
Advocacy Efforts:
On the advocacy front, the Governor had until September 30 to sign or veto over 600 measures reaching his desk, several of which hold significant implications for our industry.
He signed several measures that contain substantive CBA drafted language, thereby reflecting our direct lobbying efforts, including: AB 2424 (non-judicial foreclosure procedures); AB 3100 (loan assumption); AB 3108 (mortgage fraud); and, AB 3279 (client trust account reporting) along with our two sponsored measures, AB 2618 (reciprocal deposits), and SB 1127 (trust administration).
One of the vetoed bills, SB 278 (elder financial abuse), established an emergency financial contact program, allowing senior accountholders to designate a third party to receive alerts on suspicious transactions, with banks required to hold transactions of $5,000 or more, for three days when fraud was suspected. While the Governor expressed support for the intent of the bill, his veto message emphasized concerns about unintended consequences arising from transaction holds.
A detailed summary prepared by CBA of legislative outcomes will be published in the coming weeks. In the meantime, please check out an article in this issue authored by Jason Lane, CBA’s Senior Vice President and Director of Government Relations, providing additional detail on key legislation.
In September, we traveled to Washington, D.C., with a dedicated group of members for our annual joint visit with the Florida Bankers Association. It was an extraordinary visit, and I am deeply grateful to the members who took the time to join us and share their insights.
We had a full day of meetings on the Hill where we met with the following Congressional Representatives serving on the House Financial Services Committee: Young Kim (CA); Andy Barr (KY); French Hill (AR); Byron Donalds (FL); Frank Lucas (OK); Roger Williams (TX); Bill Huizenga (MI); and, Juan Vargas (CA). We also had a chance to catch up with Representatives Ami Bera (CA) and Lou Correa (CA), and received an update from committee staff for Chair Patrick McHenry (NC).
On the regulatory side, we met with the Acting Comptroller of the Currency, Michael Hsu, FDIC Vice Chair, Travis Hill, and Joshua Stallings, Deputy Director at the FHFA, and we received a briefing from a senior advisor for the Small Business Administration. We also heard from Mick Mulvaney, White House Chief of Staff and CFPB Director under President Trump, and Aaron Klein from the Brookings Institution.
We covered a wide range of topics during our meetings with Congressional Representatives and regulators, including but not limited to: artificial intelligence; Basel III; credit unions; de novo formations and mergers and acquisitions; deposit reform and brokered deposits; FHLB @ 100; interchange; preemption; regulatory tsunami; SAFE/SAFER Banking Act; and, trigger leads.
In November, our Government Relations team will host our Annual Legislative Forum. This important event offers members the opportunity to hear directly from legislators and political experts about the 2023-2024 legislative session, election results, and what to anticipate in 2025. I hope you will join us.
Education & Events:
In August, we had the pleasure of hosting a successful Women in Banking Mixer in Sacramento, generously sponsored by the Federal Home Loan Bank of San Francisco. We’ve also organized several virtual membership updates, featuring speakers such as Finli CEO Lori Shao, FDIC Regional Director Paul Worthing, and R&T Deposit Solutions. These updates are informative, free to all California bankers, and designed to keep our members current on critical industry trends.
We recently hosted a Women in Banking Forum in Las Vegas! We were thrilled to have women from the Central Valley, Southern California, Bay Area, and Northern California attend this event. Our Board Chair, Krista Snelling, and President & CEO of Santa Cruz County Bank served as our emcee and moderated a panel discussion with four other California bank CEOs, Janet Garufis, Chairman & CEO of Montecito Bank & Trust, Bonnie Lee, President & CEO of Hanmi Bank, Janet Silveria, President & CEO of Community Bank of Santa Maria, and Stacey Starkey, President & CEO of Savings Bank of Mendocino County.
The Bankers Summit, which was also held in Las Vegas, featured lecturers from the Pacific Coast Banking School and three education tracks, including risk management, regulatory compliance, and lending and credit. The program also included general sessions that covered generative AI, the economy, regulatory updates, third-party risk management, and a legislative update. The event was a success, and we look forward to bringing programs like the Bankers Summit back to California.
Looking ahead, registration is now open for the Bank Presidents Seminar, and we are excited to announce that the 2025 Annual Conference & Directors Forum will be held in La Quinta, California. These events promise to offer enriching content and networking opportunities for our members. For more details and updates on upcoming events and education programs, please visit our website or refer to the CBA Weekly newsletter.
Bank Visits and Peer Meetings:
I have had the privilege of making several bank visits. I deeply appreciate the time and feedback you have shared with me. We have also been on the road attending meetings with our state banking association peers at the ABA Summer Leadership meeting in San Diego, the National Association of Bank Advocates meeting in Austin, and the ABA State Issues Summit in Chicago.
I am so proud of the incredible work that you do to support your customers, communities and the economy. Please let us know what more we can do to support you. Thank you for your continued support and engagement in the California Bankers Association.
Sincerely,
Kevin Gould
President & CEO
Bringing members together.
Making our banks better.