Removing Barriers Blog

CCUL Ends Session With Legislative Victories
Posted September 23, 2015 by CUNA Advocacy

As the California Legislature concludes the 2015 session, the California Credit Union League reported a successful year.  Among the League accomplishments are the advancement of data security legislation and the defeat of a bankruptcy bill detrimental to credit unions.
Recent League efforts led to the rejection of S 308, which would have dramatically increased the amount of assets a debtor could shield through bankruptcy, thus leaving credit unions and their members responsible. Understanding the importance of helping consumers navigate tough economic circumstances, the League sought to compromise with the bill’s author, however, the lawmaker was unwilling. The measure only garnered 21 votes in the Assembly, 20 votes short of what is required to pass.
The League was also instrumental in advancing A 83, which increases retailers’ current data security standards and expands the definition of personal information. The Senate will vote on the measure in January.
Earlier this session the League assisted in defeating legislation that would have given super-lien rights to unregulated lenders.