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CUs and Employees Urged to Join ‘NO on AB 2501’ Campaign

Assembly Bill 2501 in the California State Assembly remains a threat to the credit union movement — and the California Credit Union League needs your immediate help to defeat it. The bill requires credit unions to offer inflexible lengthy forbearances on mortgages up to Jan. 1, 2022 and lengthy forbearances on auto loans. It would significantly draw down levels of capital, preventing credit unions from serving their communities and potentially causing layoffs or even mergers.

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Important Updates: CCPA, NCUA, Fannie-Freddie, Fed and CFPB

California Attorney General Xavier Becerra submitted final proposed regulations under the California Consumer Privacy Act (CCPA) to the California Office of Administrative Law (OAL). The regulations will provide guidance to businesses on how to comply with the CCPA and will enable consumers to exercise new rights over their personal information.

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InfoSight New Topic: Back to Work Best Practices

While many states are beginning to relax some of the “stay at home” orders and credit unions are thinking about how to safely get their teams back into the office and protect their members, InfoSight, the League’s online compliance resource, has a new topic under the COVID-19 – Coronavirus channel called Back to Work Best Practices.  Helpful resources include:

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NCUA to Host BSA Webinar June 17

The National Credit Union Administration (NCUA) is hosting a “The Bank Secrecy Act: Review and Reminders” webinar on June 17.

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CU Structure Diagram, PPP Update, Reopening Guidelines and More

The California Credit Union League has created a two-page diagram — "Credit Unions: Structure, Capital, Liquidity, and Economic Effects" — to help educate California assemblymembers and senators whenever the opportunity arises during this difficult period as credit unions continue serving their members.

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InfoSight NEW TOPIC: Remote Work;Telecommuting

new InfoSight topicRemote Work - Telecommuting, has been added to the Employment Channel. As more credit unions continue to operate and consider a future for remote staff and telecommuting, InfoSight has combined its resources on the topic for easier access. In addition, a Remote Worker Risk Assessment was also created and has been added as an additional resource on that topic. 

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Job Market Exposes Toughest Part of Members’ Recovery: Realignment

“Some job skills in demand last week could be out of style next week,” said John Hawkins as he reflected on how the Coronavirus pandemic is shaking up local labor markets. “Different states will have different dynamics, and there will be a lot of variations due to different industries.”

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