Advertisement
YOU ARE HERE: LAT HomeCollectionsCalifornia Department Of Banking
IN THE NEWS

California Department Of Banking

FEATURED ARTICLES
BUSINESS
August 27, 1990 | From United Press International
Beverly Hills Bank Challenges Shutdown: First Pacific Bank of Beverly Hills, shut down by the state Banking Department on Aug. 10, filed suit seeking to reverse the action and collect damages of more than $10 million. The Superior Court suit maintained that state Superintendent of Banks James Gilleran acted "arbitrarily, capriciously and recklessly" in deciding that $10 million in the bank's assets were substandard--and in closing the bank and transferring assets to Commercial Center Bank.
ARTICLES BY DATE
BUSINESS
August 27, 1990 | From United Press International
Beverly Hills Bank Challenges Shutdown: First Pacific Bank of Beverly Hills, shut down by the state Banking Department on Aug. 10, filed suit seeking to reverse the action and collect damages of more than $10 million. The Superior Court suit maintained that state Superintendent of Banks James Gilleran acted "arbitrarily, capriciously and recklessly" in deciding that $10 million in the bank's assets were substandard--and in closing the bank and transferring assets to Commercial Center Bank.
Advertisement
BUSINESS
February 9, 1989 | NANCY YOSHIHARA, Times Staff Writer
Consumers Union on Wednesday blasted a proposal by the California Bankers Assn. that calls for the first major overhaul of state banking laws in more than 30 years. At a press conference in Sacramento, Consumers Union, the nonprofit publisher of Consumer Reports magazine, said the proposal would significantly weaken ethics laws applying to banks and the State Department of Banking. The California Bankers Assn.
REAL ESTATE
May 20, 1990 | DAVID M. KINCHEN, TIMES STAFF WRITER
California escrow providers are regulated by five state agencies--the departments of Corporations, Insurance, Real Estate, Savings and Loans and Banking. The agency regulating escrow companies in California varies with the escrow firm's organizational structure and the type of escrow the company is permitted to handle. The state's 1,212 independent escrow companies are regulated by the Department of Corporations, with the Federal Trade Commission also handling consumer complaints.
BUSINESS
August 23, 1989
Monarch Bank is out from under regulatory restrictions for the first time in three years. The California Department of State Banking recently lifted its order requiring the bank to raise more capital and to correct lending and management problems. In March, federal regulators lifted a similar order. Removal of the restrictions is "a significant step in our recovery," said E. Lynn Caswell, the bank's chairman, president and chief executive. A stock offering last year raised $1.
BUSINESS
August 3, 1988 | James S. Granelli, Times staff writer
California bankers sometimes wonder why some of their simplest marketing plans are subject to regulatory scrutiny. Sunwest Bank in Tustin, for instance, wants to set up an information booth at an Oct. 20 business development conference sponsored by State Sen. William Campbell (R-Hacienda Heights) in the City of Industry. The annual conference, aimed at helping primarily small, minority-owned businesses, "draws a tremendous amount of people," said William J. Mylymok, president of Sunwest Bank.
BUSINESS
February 24, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
State banking regulators said Thursday that they have seized the operations of Izalco Express Services, an Orange County money order company, alleging that it violated banking laws by collecting $1.3 million in deposits from more than 900 customers. Izalco, operated by Roger O. Vega, was put into receivership but allowed to remain open for normal business unrelated to deposit accounts.
BUSINESS
March 9, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
A state-appointed receiver for Izalco Express Services said Wednesday that the money order company, seized by state regulators last month for illegally accepting nearly $1.4 million in deposits, is insolvent and has $700,000 in debts that it can't pay. Part of that loss, though, should be recouped in a sale of the Costa Mesa company, which could occur within a month, Dennis I. Simon of the accounting firm Price Waterhouse LLP said after a brief Orange County Superior Court hearing.
BUSINESS
December 5, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Independent banks in California are relying more heavily on real estate loans than ever before and, despite a current downturn in the market, will continue to invest much of their money in such loans. That is the finding of a recently released study by Orange County banking consultant Gerry Findley that found that banks had 55.3% of their assets in real estate loans at the end 1989, compared to 27.5% at the end of 1979.
BUSINESS
May 31, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Attempting to take advantage of less-restrictive state banking laws, Dana Niguel Bank N.A. wants to trade in its national charter for a state charter, and its only remaining obstacle is obtaining shareholder approval. The bank, which concentrates on making construction loans to home builders, plans to use the state charter mainly to increase the amount it can lend to one borrower by at least 50% and up to 150%, said Charles Goodson, the bank's senior vice president and cashier.
BUSINESS
February 3, 1995 | HOPE HAMASHIGE, SPECIAL TO THE TIMES
Socrates Galindo doesn't like to wire money to Mexico. He prefers to take a check with him so that he can buy gifts and give them in person when he visits his family in Acapulco. But the 32-year-old Galindo, who works at an antique store in Laguna Beach, has changed his custom of late. His younger brother, Alejandro, is having a birthday soon, so Galindo sent a few dollars for the celebration. Because U.S.
Los Angeles Times Articles
|