Stop California's CRA Bill: Tell Senators 'NO on SB 1176'

Sacramento capitol

The California Credit Union League activated Connect for the Cause this week to launch a campaign opposing Senate Bill 1176, the California Community Reinvestment Act (CRA).

This bill will be heard in committee the first week of April. It’s the same week credit union leaders will be attending the League's 2022 Government Relations Rally (GRR) and making their voices heard in Sacramento, which means credit union employees and volunteers need to ACT NOW and alert all state senators of the industry's opposition to this bill to protect credit unions.

Even if a credit union is federally chartered, it is imperative it participates in this campaign. If SB 1176 passes in California, there will be a push to pass it at the federal level.

Please:

Since Monday, nearly 1,500 messages have been sent — but we need many more!

Credit unions are not subject to the federal CRA for good reason. SB 1176 (introduced by State Senator Monique Limón) would take the federal CRA and expand the scope of the examination process and data collection, applying it to state-chartered credit unions across California. Credit unions would also face major compliance issues under SB 1176 due to field-of-membership limitations and the member business lending cap restriction.

While the League agrees with SB 1176’s intent to serve the underserved, subjecting credit unions to a state CRA is unnecessary. League and credit union leaders fear SB 1176 will have unintended consequences in the marketplace since the bill will divert credit unions’ resources away from serving our members.

You can review the League's analysis of the bill, as well as the League’s opposition letter.

Please MAKE YOUR VOICE HEARD today. The League looks forward to engaging this battle head-on and partnering with credit unions in opposing this harmful bill.

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