MBA Advocacy Update: New Bob Broeksmit Blog on Housing Supply; California AI Bill Update
Read President and CEO Bob Broeksmit, CMB’s, new blog post on MBA’s ongoing efforts to urge policymakers and elected officials to maximize the potential of existing programs to boost housing supply.
California’s Amended AI Bill Stalls
Last Saturday, the California Legislature ran out of time – and moved to the inactive file – the amended version of AB 2930, a major bill on artificial intelligence (AI) and automated decision systems.
AB 2930 is now dead for this year – though it is likely that a fresh bill will be introduced for the 2025 legislative session as early as this December.
Go deeper: AB 2930 originally included language with concerning impact across all industries, but thanks to coordinated advocacy by MBA and the California MBA, the bill’s provisions were significantly narrowed to focus only on auto decision systems in employment-related matters. However, even with this newly concentrated scope, and with no time left for debate, the bill was still opposed by a broad business coalition.
Why it matters: California’s actions, especially with respect to technology policies, often create a template for action in other states. The failure of AB 2930 to pass even with its narrower application demonstrates to other states there is still work to be done to build consensus to regulate risks that may not be fully covered by other existing consumer protection laws, while minimizing unintended consequences for the beneficial applications of AI.
What’s next: MBA will continue to support its state partners working to educate policymakers on the industry’s long history of technology adoption – as well as the existing and robust framework of state and federal anti-discrimination laws under which those systems must operate.
For more information, please visit MBA’s State Artificial Intelligence resource page at www.mba.org/stateai or contact William Kooper at (202) 557-2737 or at Liz Facemire at (202) 557-2870.
Register for MAA’s Next Quarterly Webinar on September 17
MBA’s Legislative and Political Affairs Team invites you to our upcoming Pre-Election Update on National Voter Registration Day, September 17, at 3:00 PM ET. Join us as we dive into the policy implications that could flow from the upcoming 2024 elections and impact our industry.
Why it matters: This webinar will offer a comprehensive overview of the current legislative landscape and forecast potential political changes that could impact your business and the broader industry.
What’s next: Register with code MAA2024 to receive complimentary access to this webinar.
For more information, please contact Erin Reilly at (202) 557-2751 or Margie Ehrhardt at (202) 557-2708.
Upcoming MBA Education Webinars on Critical Industry Issues
MBA Education continues to deliver timely single-family programming that covers the spectrum of challenges, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming and recent webinars – which are complimentary to MBA members:
Uncovering Insurance Servicing Risks: Safeguarding Your Operations – September 11
How AI Can Help Servicers Combat the High Cost of Borrower Communications – September 18
Loss Mitigation & Lessons Learned from Pandemic Era Regulations – September 26
Navigating Multifamily Income and Expenses from Fundamentals to Performance Metrics – October 2
Regulation X Redefined: Analyzing the CFPB’s Proposed Loss Mitigation Framework and Language Access Requirements – October 3
MBA members can register for any of the above events and view recent webinar recordings by clicking here.
For more information, please contact David Upbin or (202) 557-2931.
