California Charter Bill, Forbearance Denials, and Advocacy Blog

California Sen. Anthony Portantino (D-La Canada Flintridge)
California Sen. Anthony Portantino (D-La Canada Flintridge)

This week, California Sen. Anthony Portantino (D-La Canada Flintridge) introduced Senate Bill 269, the 2021 Credit Union State Charter Modernization Bill — which is identical to SB 1031 from last year.

Senator Portantino was unable to move forward with the California Credit Union League’s state charter modernization bill last session due to the COVID-19 pandemic.

SB 269 deals with a bevy of issues, including expulsion of members, loans issued to employees of a credit union, and much more.

“We are extremely grateful that the senator has agreed to carry this important piece of legislation for us,” said Robert Wilson, vice president of state government affairs for the League. “We look forward to educating members on its importance to the credit union movement.”

Deadline for Forbearance Denial Notices Extended to Sept. 1
California Gov. Gavin Newsom signed Senate Bill 91 this past week, which extends the state’s eviction moratorium through June 30, 2021. SB 91 (a budget trailer bill) was recently amended to extend a consumer protection provision of Assembly Bill 3088 from last year.
 
The League worked extensively with the governor last summer to shape the outcome of AB 3088 in 2020, making sure the bill did not include language on foreclosure moratoriums, mandatory forbearance, or long-term eviction moratoriums to maintain a credit union’s ability to work with its members.
 
This week’s SB 91 extension of the state eviction moratorium protects tenants and small landlords from losing their housing. It is being initiated alongside deployment of California’s share of the latest federal stimulus bill to ensure that up to $2.6 billion in renter aid is administered to at-risk households with unpaid back rent. Tenants and their landlords can choose to receive direct rental assistance in exchange for forgiving prior rental debt.
 
Under emergency federal legislation passed last year, a mortgage servicer that denies a borrower’s forbearance request and provides written notice was mandated to do so between the servicer’s act of denial and April 1, 2021. However, this week’s SB 91 passage extends this date to Sept. 1, 2021.

For questions, email Robert Wilson.

League Advocacy Blog Update
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