Latest Updates on California, Congress, and Regulatory Scene

Workers at desk

In the California Credit Union League’s latest Advocacy Newsletter, credit union leaders throughout the state can get up to speed on state government affairs, special elections, the recall effort, federal/congressional government affairs, and state and federal regulatory advocacy:

California State Government Affairs

  • California Government Relations Rally (GRR) update on senate and assembly-lobbied bills: state charter modernization, climate-related financial risk, and the California Public Banking Option Act.
  • Remote Online Notarization: Secretary of State Shirley Weber’s recent briefing on April 28.
  • Rob Bonta sworn in as California Attorney General.

Special Elections/Recall Update

  • Assembly District 18 (former Assemblymember Rob Bonta); Assembly District 54 (Heather Hutt, Isaac Bryan, and Dallas Fowler); and Assembly District 79 (Dr. Akilah Weber).
  • Governor Gavin Newsom recall: effort reaches signature threshold needed to trigger election (although the recall hasn’t been technically qualified).

Federal Government Affairs

  • Opportunities for credit unions to take action as Congress moves from stimulus to recovery discussions.
  • Updates on House Financial Services Committee Chairwoman Maxine Waters; Sens. Alex Padilla (D-CA) and Catherine Cortez Masto (D-NV); National Credit Union Administration (NCUA) Board Chairman Todd Harper; and funds for community development financial institutions (CDFIs).

Regulatory Advocacy

  • Meeting with California Department of Financial Protection and Innovation (DFPI) Commissioner Manuel Alvarez.
    Pending California state and federal (NCUA) regulatory proposed rules (and deadlines).

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