March 18, 2005 |
Shuffling its top management, UnionBanCal Corp. has named commercial-banking specialist Philip B. Flynn to the newly created post of chief operating officer, putting him in charge of all business units at the San Francisco-based bank. Flynn said Thursday that he would work from Los Angeles, where he has spent his entire 24-year career at UnionBanCal, the parent of Union Bank of California.
May 18, 2004 |
CNA Financial Corp. said it has agreed to sell its CNA Trust business to Union Bank of California. Financial terms weren't disclosed for the transaction, which is expected to be completed on or before the end of the third quarter. Union Bank of California is a subsidiary of San Francisco-based holding company UnionBanCal Corp. CNA Trust, based in Costa Mesa, helps other financial institutions offer 401(k) plan services.
October 4, 2000 |
Operation HOPE, Union Bank of California and Nix Check Cashing have opened their first joint service centers, providing banking and small-business services and financial counseling in underserved areas. The centers should also help mute criticism that Union Bank's purchase of a 40% share of Nix last March exploited low-income consumers by offering them relatively high-cost check cashing in place of formal banking services.
March 16, 2000 |
Union Bank of California is expected to announce today that it is buying into Southern California's largest check-cashing operation, accelerating the banking industry push into a controversial and profitable business that targets low-income neighborhoods.
August 19, 1999 |
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.
August 17, 1999 |
Union Bank of California said Monday that it will cut about 15% of its work force in a bid to boost profit--and perhaps make itself a more attractive takeover target in the state's increasingly competitive banking market. Fulfilling a pledge made earlier this year to slim down operations and become more efficient, Union said it will cut 1,400 jobs statewide during the next 18 months while increasing investment in technology and automation.