The San Francisco City and County Board of Supervisors passed a financial information privacy
The Credit Union Journal asked several CUs in San Francisco how they are preparing to comply with the ordinance-
"I don't know anything about it, but I haven't caught up with my reading lately," said one CU manager.
"I haven't heard of it before, but it sounds like it won't affect us, because we are a small credit union," said another.
Barry Kane, vice president of government affairs for Northern California branches of Patelco Credit Union, said the
"Credit unions work in a cooperative atmosphere. And as a cooperative, there are shared ATM networks and mailing
Patelco, based in San Francisco, is the third largest CU in California and 10th largest in the United States with
Seeking A Good Compromise
"We are working with the California Credit Union League to find privacy policies we can live with. We want to
Kane said he believes the San Francisco Board of Supervisors might have passed the ordinance to push the state
"It would have been better if the Board of Supervisors had waited," he said. "Private ordinances will cause large
Lynn Athens, president and CEO of Spectrum FCU, said she is aware of the new ordinance, but for now, the $92-
"There is a lot of potential out there; things are very unsure," Athens said. "There is potential for federal action,
"We have nearly a year to see what takes place," she continued. "It is obvious the state is serious about doing
State Bill Is Back
California State Senator Jackie Speier reintroduced privacy legislation-S.B. 1 - in the first week of January. As of
The bill is expected to be discussed and voted on in relatively quickly before the looming debate over California's
Most local ordinances won't work, or will not be implemented due to numerous lawsuits, Kane believes. The Bay
Attorneys for the National Credit Union Administration are examining the San Francisco ordinance but declined