Legislative Successes
Secured Exemption from the California Consumer Privacy Act for Most Activities
In 2018 California passed the most expansive privacy legislation in the United States by way of AB 375, the California Consumer Privacy Act (CCPA). This bill was quickly passed and signed by the Governor with the understanding that further legislation would be needed to provide cleanup and technical fixes. The subsequent cleanup bill was SB 1121, authored by Senator Bill Dodd (D-Napa). CCBN, along with the financial services community, secured an amendment to SB 1121 that clarified the Gramm-Leach-Bliley Act exemption for financial institutions. The Act still requires financial institutions to comply with California’s longstanding Financial Privacy Act in addition to the Gramm-Leach-Bliley Act. The clarification removed compliance uncertainty on the expectations for financial institutions related to the new privacy law. This bill was passed by the Legislature unanimously and was signed by the Governor on September 13th.
Blocked Legislation to Eliminate Bank Levies for Debt Recovery
Senator Bob Wieckowski (D-Fremont) once again tried to eliminate bank levies as a means of recovering funds owed to creditors. This bill failed on the last day of session in 2017 but the author amended it and tried again this year. CCBN worked with a broad coalition to block this bill. It would have essentially eliminated bank levies as a tool for debt recovery by creating an automatic exemption amount of $2,250. This is so high that it would have prohibited nearly all bank levies. CCBN successfully lobbied this bill and it once again failed passage on the Assembly floor on the last night of session this year.
Maintained Community Bank Carveout in Homeowner Bill of Rights Renewal
In 2012, the state legislature passed a bill that established the Homeowner Bill of Rights. At that time CCBN secured a carveout from the provisions of that bill. The Homeowner Bill of Rights expired last year. However SB 818 authored by Senator Jim Beall (D-San Jose) provided a permanent extension for this. Once again, CCBN lobbied to protect and maintain the existing carveout for community banks. This bill passed the Legislature and was signed by the Governor on September 14.
Second Year of the 2017-18 Legislative Session
This year was the second year of the 2017-2081 session. November’s election showed that Democratic dominance in California politics is stronger than ever. Democrats took the Governorship and all statewide offices, as well as supermajorities in both houses of the Legislature. Going into the 2019-2020 session, CCBN will continue to engage in Sacramento and will monitor for legislation that has an impact on its members.
In 2018 California passed the most expansive privacy legislation in the United States by way of AB 375, the California Consumer Privacy Act (CCPA). This bill was quickly passed and signed by the Governor with the understanding that further legislation would be needed to provide cleanup and technical fixes. The subsequent cleanup bill was SB 1121, authored by Senator Bill Dodd (D-Napa). CCBN, along with the financial services community, secured an amendment to SB 1121 that clarified the Gramm-Leach-Bliley Act exemption for financial institutions. The Act still requires financial institutions to comply with California’s longstanding Financial Privacy Act in addition to the Gramm-Leach-Bliley Act. The clarification removed compliance uncertainty on the expectations for financial institutions related to the new privacy law. This bill was passed by the Legislature unanimously and was signed by the Governor on September 13th.
Blocked Legislation to Eliminate Bank Levies for Debt Recovery
Senator Bob Wieckowski (D-Fremont) once again tried to eliminate bank levies as a means of recovering funds owed to creditors. This bill failed on the last day of session in 2017 but the author amended it and tried again this year. CCBN worked with a broad coalition to block this bill. It would have essentially eliminated bank levies as a tool for debt recovery by creating an automatic exemption amount of $2,250. This is so high that it would have prohibited nearly all bank levies. CCBN successfully lobbied this bill and it once again failed passage on the Assembly floor on the last night of session this year.
Maintained Community Bank Carveout in Homeowner Bill of Rights Renewal
In 2012, the state legislature passed a bill that established the Homeowner Bill of Rights. At that time CCBN secured a carveout from the provisions of that bill. The Homeowner Bill of Rights expired last year. However SB 818 authored by Senator Jim Beall (D-San Jose) provided a permanent extension for this. Once again, CCBN lobbied to protect and maintain the existing carveout for community banks. This bill passed the Legislature and was signed by the Governor on September 14.
Second Year of the 2017-18 Legislative Session
This year was the second year of the 2017-2081 session. November’s election showed that Democratic dominance in California politics is stronger than ever. Democrats took the Governorship and all statewide offices, as well as supermajorities in both houses of the Legislature. Going into the 2019-2020 session, CCBN will continue to engage in Sacramento and will monitor for legislation that has an impact on its members.