State Update: Committees Make CU Request; CCPA Enforcement

Notepad and pen

The California Credit Union League received a letter from four committee chairs in the California State Assembly and Senate requesting that credit unions refrain from using members’ federal stimulus funds to offset delinquent loan payments or other past-due fees — and to make reasonable efforts to make those funds available to members as soon as possible.

You can read more here.

No Delay in California CCPA Deadline
While the League joined in a letter with other trade associations asking California Attorney General Xavier Becerra to delay the California Consumer Privacy Act (CCPA) enforcement date due to the pandemic situation, there has been no word from the attorney general’s office, nor the legislature, regarding doing so.

Recent actions seem to suggest the attorney general will not be delaying the July 1, 2020 CCPA enforcement deadline. Read more here.

The League is in the process of formally reaching out to Governor Gavin Newsom, asking that he weigh in on the matter and delay implementation until Jan 1, 2021.

Reg D Transfer Limit Update
At the urging of the Leagues and the Credit Union National Association (CUNA), Rep. Brad Sherman (D-CA) has petitioned the Federal Reserve Board to ease Regulation D transfer limits to allow consumers to easily move funds between their savings and checking accounts during the healthcare crisis due to COVID-19.

Leagues’ Advocacy Newsletter
As the COVID-19 crisis impacts all communities across California and Nevada, please read the Leagues’ Advocacy Newsletter, which includes the latest developments in legislative and political advocacy with brief summaries and links to important political knowledge.

For questions, email Leagues Advocacy Specialist Emily Udell.

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