A Powerful Impact in 2022 as Leagues & CUs Build Upon Victories

California State Legislature dome

In 2022, credit unions across California and Nevada benefitted from 20 state legislative victories, 15 regulatory accomplishments, 11 major wins in Congress, numerous initiatives, meetings, urgent alerts, and robust grassroots advocacy-in-action that crafted better policies for a positive impact on operations and members.

The California League and Nevada League are the ONLY associations in Sacramento, CA and Carson City, NV representing YOUR credit union’s voice!

“We exist to help credit unions change people’s lives by supporting your leadership, management, volunteers, awareness, guidance, strategy — and your future,” said Diana Dykstra, president and CEO of the Leagues. “Our 2022 successes are direct examples of how the League positively impacts EVERY credit union — every year — throughout California and Nevada. We look forward to serving you in 2023!”

Major State Victories in CA and NV
The Leagues’ California Impact Report discusses victories from 2018 – 2022 that are providing direct help to credit unions TODAY and beyond, as well as initiatives supporting the credit union cause through PAC (Political Action Committee) activity, grassroots advocacy, and so much more:

  • Click here to view all 20 assembly and senate bill victories within the California State Legislature in 2022, as well as eight additional League-engaged bills. These include liens, remote online notaries, the health-care-for-all initiative, workplace technology accountability, the California Housing Speculation Act, wildfire safety improvements, exposure, residential real property (sale of rentals), unfair competition law, workweek hours and overtime, unsolicited commercial mail, pollution control financing/CDFIs, debt and coerced debt, employers and states of emergency, loan-related activities and data analysis practices, biometric information, enforcement of judgements, foreclosures and equity sales, enforcement of judgements in wage garnishments, and more.
  • DEFEATED Senate Bill 1176 (California Community Reinvestment Act).
  • DEFEATED Senate Bill 449 (burdensome climate-related financial risk standards).
  • PASSED Senate Bill 269 (state-chartered credit union modernization).
  • DEFEATED Assembly Bills 1436 and 2501 (mortgage forbearance requirements).
  • PASSED Senate Bill 1121 (Gramm-Leach-Bliley exemption within the California Consumer Privacy Act).

The Leagues’ Neveda Impact Report shows that — even in non-legislative years such as 2022 — the Nevada League consistently worked to educate state legislators, the governor’s office, and policymakers to craft policies that have a better impact on locally member-owned credit unions.

Huge Accomplishments in U.S. Congress
The Leagues proactively stayed ahead of congressional legislation in Washington, D.C. and important legislative and regulatory conversations that have ramifications for local credit unions. We are alert on Capitol Hill so credit union leaders can focus on what they do best — serving their members. The congressional session had not concluded as of mid-November when these accomplishments were published here:

  • ADVANCED field-of membership expansion bill.
  • ADVANCED emergency liquidity authority.
  • DEFEATED overdraft legislation.
  • DEFEATED vendor regulatory oversight.
  • ADVANCED board modernization bill.
  • PASSED member expulsion legislation.
  • CONTINUED FIGHTING for your credit union (credit card interchange, Community Development Financial Institution-certification cure period efforts, increasing maturity limits on non-primary residential mortgage loans, member business lending expansion in underserved areas, and data security and consumer privacy).

Big Wins in State & Federal Regulatory Reform
The Leagues closely monitor state and federal regulatory issuances — constantly keeping watch on your behalf — and provide vital information daily and weekly to help credit union leaders stay informed on actions impacting their operations and compliance. These efforts and successes included:

  • Six exclusive meetings with state and federal regulators and credit union leaders to facilitate proactive and positive discussions, including the California Department of Financial Protection and Innovation (DFPI), Consumer Financial Protection Bureau (CFPB), and National Credit Union Administration (NCUA).
  • Wins on updated interest rate risk (IRR) guidance as federally insured credit unions continue navigating their way through the current economic and interest rate environment.
  • An interim final rule regarding Prompt Corrective Action (PCA) to help ensure federally insured credit unions remain operational and liquid during the COVID-19 pandemic.
  • Making sure overdraft remains on the CFPB’s inactive calendar.
  • Continuously calling on the CFPB regarding tailored regulations and greater use of exemption authority for credit unions, as well as fostering a more collaboration and stronger relationship with the NCUA.
  • Providing official comments on “junk fees” (CFPB), member expulsion (NCUA), the Debt Collection Licensing Act (California DFPI), and the California Consumer Privacy Act/California Privacy Rights Act (California Privacy Protection Agency — CPPA).

Grassroots Advocacy, Compliance, Professional Development, & Unique Value
You, your senior management team, and your board of directors can view more accomplishments and successes of the California League and Nevada League — ALL ON BEHALF OF CREDIT UNIONS across both states:

  • These include: Powerful Achievements and Supporting the Credit Union Cause: PAC and Grassroots Advocacy; Fundraising and Meetings with Elected Officials; Compliance for Superior Performance; Valuable and Engaging Educational Opportunities: Resources at Your Fingertips and Beyond; Communications and Solutions with a Purpose: Unique Value; and Remaining Agile for YOU as we Pivot Forward.
  • The Leagues also proactively LISTENED TO YOU during 20 virtual CEO Calls. These bi-monthly, high-touchpoint online discussions showed us what your credit union was going through, helping put commonsense plans into action. The Leagues hosted guest speakers to discuss artificial intelligence for credit underwriting and lending, the changing economic outlook, regulatory focus of the NCUA and CFPB, and blockchain and cryptocurrency. Other emerging topics included serving the underserved, the unique Bank On initiative, specific regulatory and compliance issues, and important pandemic updates.
  • Additionally, the Leagues leveraged the capabilities, convenience, and unique environment of both virtual and onsite events. Through digital and onsite educational and professional development platforms, the Leagues delivered a valuable set of high-impact options for your staff. Topics included Current Expected Credit Loss (CECL) and compliance, serving underserved communities, data management, and innovative initiatives, webinars, seminars and gatherings benefitting thousands of credit unions as the industry’s professionals continue finding value in today’s hybrid-remote learning environment. This past year, 136 credit unions were Power Learner Passport (PLP) subscribers, with nearly 7,150 webinar orders.

The Leagues Exist Only to Support YOU
For member-credit unions, the Leagues are YOUR leagues and exist only to support YOU, your operations, guidance, strategy, and your members — as well as the entire movement and its member-owners throughout California and Nevada. Advocacy, compliance, business solutions, education, and fostering a community of peers and professionals remains our top priority. The Leagues are focused on leveraging this year’s successes into elevating your credit union in 2023.

“Our mission to edify and enhance your leadership, operations, and your members’ lives by has been magnified this past year,” Dykstra added. “2023 will be no different as credit unions are poised to face new threats — yet new opportunities. We look forward to making our movement even stronger. THANK YOU AGAIN for being part of the League family!”

Pin It