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Federal thrift regulators on Tuesday banned former Lincoln Savings & Loan operator Charles H. Keating Jr. from the banking industry and ordered him to pay $36 million in restitution for two illegal dealings at the failed Irvine thrift. The action by the Office of Thrift Supervision ended three years of hearings and legal maneuverings involving Keating and other executives at Lincoln, which collapsed in April, 1989, and became one of the industry's costliest thrift failures.
March 18, 2012 | By Nathaniel Popper, Los Angeles Times
If you want to do business with the biggest bank in the Western world, don't get on a plane to New York or London. The new place to go is sunny California. Wells Fargo & Co., with its headquarters in downtown San Francisco, has shot ahead of the East Coast institutions that have long been the behemoths of the financial industry, including JPMorgan Chase & Co. andCitigroup Inc. Although Wells Fargo still has fewer bank deposits than its closest competitor, its total stock market value is now about $178 billion - that's about $70 billion more than Citigroup and about $9 billion more than JPMorgan.
February 11, 1991 | ROBERT A. ROSENBLATT, Times Staff Writer
The banking industry has prepared a plan to contribute $10 billion over the next two years to avoid a taxpayer bailout of the troubled fund that insures savings deposits, industry officials said Sunday. The plan, which will be presented to federal regulators on Tuesday, calls for banks to purchase a special issue of bonds from the Federal Deposit Insurance Corp.
December 10, 2004 | From Associated Press
Wrapping up a modern-day Bonnie and Clyde case that stretched around the world, a woman accused of helping her boyfriend rob banks across the West was sentenced Thursday to 10 years in prison and ordered to repay more than $231,000. Nova Guthrie, 31, turned and smiled at her parents and other relatives after hearing her punishment. Her father, Ralph Guthrie, waved at her as she was led away.
August 5, 1990
"The industry is a dinosaur. The only real question is when, not if, it is going to be folded into the banking industry." --Robert Litan of the Brookings Institution, on the future of the savings and loan industry.
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