SACRAMENTO, Calif. -- Credit unions participating in California's Government Relations Rally had a very timely issue to discuss with their legislators.
The league-sponsored Consumer Data Security Bill (AB 1779) was scheduled for an assembly appropriations committee hearing April 9, just one day after the group's legislative appointments.
According to Vice President of Public Affairs Henry Kertman, the timing couldn't have been better, and the league has high hopes the bill will be heard on the assembly floor as early as this week.
This year's the rally drew around 160 credit union representatives, down slightly from last year. The rally kicked off April 7 with a noon lunch featuring a Q&A session with state regulators. CNN journalist David S. Broder was the afternoon's keynote speaker.
This year's hot button legislative issue is the passage of AB 1779, which made it all the way to Governor Schwarzenegger's desk last year before being vetoed. AB 2116, a repossession notification bill, will also be on credit union leaders' minds in Sacramento, as well as more than 30 proposed mortgage bills.
"None of these [mortgage] bills attempt to narrow the scope to bad lenders or good actors, so we're asking credit unions to bring their positive mortgage stories," said Keri Bailey, league director of state government affairs.
"They need to make sure their elected officials know how credit unions underwrite loans; not as a short-term fee opportunity, but a long-term investment, with families who are with us throughout their mortgage and beyond."
