SACRAMENTO, Calif.–A bill to allow California-chartered credit unions to provide wire transmittal and check cashing services for nonmembers was recently withdrawn in the Senate, according to a local newspaper account.
The Navato Advance reported that while the California Credit Union League supports the bill to provide more affordable services to consumers, the California Independent Bankers said it would hurt communities that depend on small business. The legislation would have provided the state-chartered credit unions parity with federal charters that received the authority in last year's Financial Services Regulatory Relief Act.
In a related matter, the California Credit Union League reported in its CU Weekly News recently that it will hold a lobbying event on Aug. 20 in support of AB 779, a consumer data protection bill. Legislators as well as credit union folks are expected to lobby around the legislation that would make retailers liable for the data breaches they cause. The bill is due to be debated in the California Senate Appropriations Committee the same day; it has already passed the full Assembly.
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