AB 1416 Passes First Committee Hearing

Ken Cooley
California Assemblyman Ken Cooley

One of the top legislative issues credit unions lobbied on at the 2019 California Government Relations Rally (GRR)—Assembly Bill 1416—recently passed out of the Assembly Privacy and Consumer Protection Committee.

The bill, authored by Assemblyman Ken Cooley, D-Rancho Cordova, passed out of committee on April 30 without a single “no” vote.  AB 1416 would ensure businesses can continue to protect consumers from fraud and identity theft while still carrying out the intent of the California Consumer Privacy Act (CCPA).

AB 1416 heads next to the Assembly Floor.  While an exact timetable for when the bill will be heard on the floor is unknown at this point, the “House of Origin” deadline is May 31, which means that is the last day for each house (Assembly and Senate) to pass bills introduced in their own house. So, the bill must pass out of the Assembly no later than May 31 to then move onto the Senate.

“The League will continue to advocate for AB 1416 as it makes its way through the legislative process and heads to the Assembly Floor,” said League Vice President of State Government Affairs Robert Wilson. “We’d like to thank all of those who attended this year’s GRR event in April, for showing the strength of credit union grassroots advocacy through your successful lobby meetings.”

In addition to AB 1416, GRR attendees lobbied in support of AB 1087 (Cunningham), which specifies that the required course for economics in high school would incorporate topics on financial literacy, and expressed concerns with AB 857 (Chiu and Santiago), which would allow a local government to apply for a charter to establish a public bank. For the latter, the League feels there is no need for a city-operated bank as credit unions and banks offer similar services at affordable rates throughout the state.

Both bills are headed to the Assembly Appropriations Committee next.

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