MONTEREY, Calif. — Though not entirely unexpected, California credit unions are girding for a legislative battle this month over the imposition of Community Reinvestment Act rules on state chartered credit unions following the introduction of a banker-backed bill in the state Assembly.

"This was a curve ball that was thrown at us but one we expect to defeat," vowed William Cheney, president/CEO of the California/Nevada Credit Union Leagues in describing the bill's final hour introduction in February.

So far no hearings have been slated for the restrictive CRA measure introduced by Rep. Juan Arambula (D-Fresno) and which calls for state regulators to approve CRA projects or face CU "decertification."

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