April 12, 1990 |
Security Pacific National Bank is expected to announce today a huge community lending plan that surpasses rival Wells Fargo Bank's $1-billion, seven-year commitment, sources said Wednesday. Details of the plan will be released at a press conference today. The announcement comes exactly a month after a coalition of community groups asked the Federal Reserve Board to reject Los Angeles-based Security Pacific's purchase of 20% of Mitsui Manufacturers Bank.
April 29, 1987 |
In a sharp rebuke to the public-interest attorneys who brought the case, a state appellate court Monday upheld the dismissal of a $15-million unfair advertising suit against Time Inc. over an allegedly deceptive offer of "free" calculator watches to woo subscribers. The panel acknowledged that Time Inc. used a "trick" to get recipients to open a subscription solicitation mailed to thousands of California households in 1984.
April 12, 1990 |
Security Pacific Corp. said today that it will commit an extra $2.4 billion over the next decade to low- to moderate-income housing, small and minority-owned businesses and similar programs. A coalition of community groups last month asked the Federal Reserve Board to deny Security Pacific's purchase of 20% of Mitsui Manufacturers Bank on grounds that it had neglected community lending needs in violation of federal law.
April 30, 1993 |
Wells Fargo Bank on Thursday pledged an additional $5 billion for affordable housing, economic development and loans to low-income Californians during the next 10 years. In 1990, the San Francisco-based bank committed $1 billion for community development in California, to be allocated over seven years. But the money was used in less than three years.
July 19, 2006 |
Wachovia Corp., which is acquiring Golden West Financial Corp. in a $25.5-billion deal, plans to set up its new Western region headquarters in Golden West's home city of Oakland. The deal is expected to be completed in the fourth quarter and would give Charlotte-based Wachovia its first major West Coast foothold. Wachovia, the nation's fourth-largest bank, has yet to name an executive to head the western region, which will also include Arizona, Nevada, Colorado and Illinois.
October 24, 1994 |
Linking of Utility Executives' Pay to Minority Advances Urged: At an annual review of utility efforts to increase hiring and outside contracts with women and minorities, Robert L. Gnaizda, general counsel to the Greenlining Coalition of minority and consumer organizations, Friday called for linking utilities' CEO salaries and bonuses to improvements in these areas.