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CALIFORNIA | LOCAL
November 16, 2013 | By Rong-Gong Lin II
Police arrested two men suspected of robbing a check-cashing firm in Chino and fatally shooting a 24-year-old female clerk. The first arrest was made Saturday morning, about 13 hours after the robbery. Jorge Esteban Cisneros, 43, was arrested at about 2:30 a.m. in Ontario and is suspected of being the shooter, Chino police said in a statement. Police later arrested a second man, David Mendez, 29, of Pomona, who allegedly accompanied Cisneros into the Check N Go at 12083 Central Ave. Both men were booked on suspicion of robbery and murder at the West Valley Detention Center in Rancho Cucamonga.
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CALIFORNIA | LOCAL
November 16, 2013 | By Rong-Gong Lin II
Police arrested two men suspected of robbing a check-cashing firm in Chino and fatally shooting a 24-year-old female clerk. The first arrest was made Saturday morning, about 13 hours after the robbery. Jorge Esteban Cisneros, 43, was arrested at about 2:30 a.m. in Ontario and is suspected of being the shooter, Chino police said in a statement. Police later arrested a second man, David Mendez, 29, of Pomona, who allegedly accompanied Cisneros into the Check N Go at 12083 Central Ave. Both men were booked on suspicion of robbery and murder at the West Valley Detention Center in Rancho Cucamonga.
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BUSINESS
August 19, 1999 | EDMUND SANDERS, Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
Union Bank of California has opened its first check-cashing outlet in Orange County, at the Superior Superwarehouse in Santa Ana. It's the San Francisco-based bank's 17th Cash & Save facility in the state. Union has been expanding into check-cashing as a way to reach low- and moderate-income families who don't have a bank account or can't open one because of credit problems. The bank charges a 1% to 1.5% fee to cash a check.
BUSINESS
March 30, 2010 | By Marc Lifsher
The beleaguered agency that provides unemployment insurance benefits to almost 1.5 million jobless Californians is streamlining its antiquated payment system by introducing electronic debit cards to replace printed checks. The Employment Development Department wants to begin using the new technology in September, but some critics doubt that an agency often accused of inefficiency and poor customer relations could pull it off so quickly. The department, burdened by an aging computer system, will join 43 states that have already upgraded to plastic.
CALIFORNIA | LOCAL
September 17, 2004 | From Times Staff Reports
Santa Ana police are searching for a man who robbed at least two check-cashing businesses this month while brandishing a cigarette lighter and what was believed to be a container of gasoline. In one robbery, he had a semiautomatic handgun in his waistband, police said. The man fled on a red bike. The robberies occurred in the 1200 block of South Bristol Street and in the 1700 block of East McFadden Street.
BUSINESS
April 5, 1988 | From Reuters
The Federal Reserve Board, seeking to improve the check collection system, on Monday agreed to consider barring banks from charging a fee for honoring checks on the same day they are presented for payment. The board, at an open meeting, voted unanimously to invite public comment for 120 days on the issue. The responses received would help to determine whether formal regulations should be proposed.
BUSINESS
January 8, 2003 | From Bloomberg News
Wal-Mart Stores Inc. is testing cashing of payroll checks as it expands the financial services it offers customers. The test began in a limited number of stores recently, the retailer said. Wal-Mart already rents space in more than 900 locations to local banks and offers money orders and wire transfers.
BUSINESS
December 19, 1987 | DOUGLAS FRANTZ, Times Staff Writer
State banking regulators closed a Los Angeles check-cashing business Friday after discovering that the firm was insolvent and could not honor an estimated 30,000 money orders issued mostly to low-income residents of South-Central Los Angeles. An estimated $2.3 million paid for money orders by customers of the company, American Security Financial, disappeared and so the orders cannot be honored, state authorities said.
CALIFORNIA | LOCAL
November 30, 1999 | JENNIFER MENA, TIMES STAFF WRITER
Downtown Santa Ana is known for its historic buildings and vibrant Latino shopping districts. The commercial center also has the distinction of being Orange County's check-cashing capital, something city officials are determined to change. About three dozen check-cashing businesses operate within a 1.6-mile radius of 4th and Main streets, according to an online directory.
BUSINESS
June 8, 1992 | JAMES BATES, TIMES STAFF WRITER
California's check-cashing firms are about to be put in check by the state for the first time in more than a decade. A bill that would cap the fees charged by some check-cashing businesses--reported in some low-income areas to be as high as 20% of a check's face amount--is likely to be approved soon in Sacramento, ending a period of virtual deregulation that began in 1981.
CALIFORNIA | LOCAL
October 9, 2009 | Esmeralda Bermudez
She could have quit the business 20 years ago when her husband passed away, closed down the storefront when her children offered to care for her. Or Esperanza Serrano could have quietly slipped into retirement when she turned 62. But at 66 years old, she loved running her check-cashing business. From behind her glass window along the 3000 block of Martin Luther King Jr. Boulevard in Lynwood, she greeted a loyal clientele that she built over three decades. Buenos dias, Doña Esperanza!
OPINION
March 4, 2009
Re "Reaching L.A.'s 'unbanked,' " Opinion, Feb. 25 Many residents in poor neighborhoods have learned the hard way that opening a bank account is very expensive -- often more so than relying on the neighborhood check-cashing store. I request copies of six months of bank statements to qualify a customer for a payday loan at one of my stores. As I review these statements, I see many nonsufficient funds fees, at $24 to $35 apiece. If a customer deposits a check and writes another check that is debited that same day, he is overdrawn, because the bank does not credit the deposit until the next day. That fee may result in his next check and the one after it also being charged.
BUSINESS
June 21, 2007 | Abigail Goldman, Times Staff Writer
Wal-Mart Stores Inc. said Wednesday that it would dramatically expand low-cost financial services such as check cashing and money transfers for its millions of customers who don't have bank accounts. The giant retailer, which this year dropped efforts to formally enter banking amid opposition from Congress and regulators, said it would open 1,000 Wal-Mart MoneyCenters by the end of next year, up from about 225 in stores now.
BUSINESS
September 7, 2005 | Kathy M. Kristof, Times Staff Writer
Wells Fargo & Co. announced Tuesday that it had settled a lawsuit over check-cashing fees by agreeing to make it easier for employees of small businesses to qualify for free checking accounts. The suit, filed by Chaffee Enterprises of Bakersfield, a paging services company, alleged that Wells Fargo's policy of charging non-customers $5 for each check cashed violated a 1911 California labor law that requires employers to provide a place where workers can cash paychecks for full face value.
BUSINESS
January 7, 2005 | From Bloomberg News
Bank of America Corp. is close to settling a California consumer lawsuit over a $5 fee it charges to cash some paychecks. The suit, filed in April, claims that the fee charged to non-account holders cashing paychecks drawn on Bank of America accounts violates the California Labor Code, which requires that paychecks "be negotiable and payable in cash, on demand, without discount." The suit seeks a court order ending the practice as well as refunds on the fees already paid.
CALIFORNIA | LOCAL
September 17, 2004 | From Times Staff Reports
Santa Ana police are searching for a man who robbed at least two check-cashing businesses this month while brandishing a cigarette lighter and what was believed to be a container of gasoline. In one robbery, he had a semiautomatic handgun in his waistband, police said. The man fled on a red bike. The robberies occurred in the 1200 block of South Bristol Street and in the 1700 block of East McFadden Street.
BUSINESS
August 8, 1993 | From Associated Press
The handwritten signs at Check Express, a check-cashing store near Manhattan's Grand Central Terminal, offered busy passersby an assortment of financial products. There were Western Union money transfers, money orders, electronic tax refunds, private postal boxes, subway tokens, even a place to pay the phone bill. Although many of the services came at a premium price, the outlet attracted a steady stream of customers even at off-peak hours.
BUSINESS
June 7, 1994 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
With an eye to winning the loyalty of a largely untapped group of potential customers--Los Angeles' working-class immigrants--Union Bank on Monday launched into full-scale competition with the high-cost check-cashing services that substitute for banks in many lower-income neighborhoods. In a shopping district of heavily Latino Huntington Park, the bank opened what may be the state's first stand-alone center combining check-cashing and basic banking services.
CALIFORNIA | LOCAL
October 13, 2003 | From a Times Staff Writer
An armed robber handcuffed two employees of an Oxnard check-cashing business Sunday and stole an undisclosed amount of money, authorities said. The robbery occurred about 9:30 a.m. at Dollarsmart in the 1400 block of Doris Avenue, Oxnard police said. No one was injured. Authorities believe the robber may have broken in through the roof late Saturday or early Sunday and waited for the employees to arrive.
CALIFORNIA | LOCAL
June 3, 2003 | Richard Winton and Andrew Blankstein, Times Staff Writers
Los Angeles police detectives have arrested a parolee they believe is the "check-cashing bandit," responsible for 18 armed and often violent robberies at check establishments. Jeffery Bryant, 40, was arrested Saturday on suspicion of robbery and violating his parole -- a day after an aborted robbery in which he was recognized by a clerk he had allegedly robbed before, police said. He was being held in lieu of $2 million bail.
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