Notes from the CEO

No One-Size Solution

On May 15 of this year, I testified in front of the California Legislature on behalf of the California Independent Bankers regarding the proposed “Homeowners Bill of Rights.” The special panel of lawmakers in front of which I spoke have been tasked with crafting new mortgage and foreclosure laws. As a group, the bankers in the room carried the message that the industry is open to reform but the new legislation may overload banks with lawsuits and another layer of new regulations. See video of my testimony below:

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The experience was was unique for me as the sole community banker in the room. As proposed, this legislation would apply to all banks regardless of size. That will place an even greater burden on community banks as we are not equiped with the lawyers and large compliance departments of the majors.

The regulatory system must be bifurcated. What works for the megas simply will not work for community banks.

James E. Beckwith
President & CEO Five Star Bank
jbeckwith@fivestarbank.com

South Placer

6810 Five Star Blvd.
Suite 100
Rocklin, CA 95677
916.626.5000
rocklin@fivestarbank.com

Rancho Cordova

3100 Zinfandel Drive
Suite 100
Rancho Cordova, CA 95670
916.851.5440
rancho@fivestarbank.com

Sacramento

2400 Del Paso Road
Suite 100
Sacramento, CA 95834
916.640.1500
natomas@fivestarbank.com

Elk Grove

9355 E. Stockton Blvd.
Suite 160
Elk Grove, CA 95624
916.714.2444
elkgrove@fivestarbank.com

North Valley

358 Hartnell Avenue
Suite B
Redding, CA 96002
530.223.6652
redding@fivestarbank.com

Chico

426 Broadway
Suite 203
Chico, CA 95928
530.592.0470
chico@fivestarbank.com