Consumer advocate Robert Gnaizda dies at 83


He co-founded California Rural Legal Assistance, Public Advocates and the Greenlining Institute


Referendum on data privacy coming to California in November


Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms.


Emergency consumer relief bill in California stalls


After drawing industry opposition, legislation that would have added broad new borrower protections during the pandemic failed to advance out of the state Assembly.


Broadway invalidates activist investor's proxy challenge


The Los Angeles company said Commerce Mortgage, founded by former bank CEO Steven Sugarman, wasn't a shareholder by the record date for its annual meeting, even though the firm reported a 9.7% stake earlier this year.


Why serial acquirer Stephen Gordon is starting a bank from scratch


The last bank where he was CEO, Opus Bank, ran into trouble largely because it made too many acquisitions in too short a time span. This time around, Gordon will take a more methodical approach.


California tables ‘mini-CFPB’ idea — for now


A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.


Former Opus chief leads group behind proposed California bank


Stephen Gordon would become chairman and CEO of Genesis Bank, which is looking to raise $53 million in initial capital.


States try to help borrowers left out of federal forbearance plans


One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.


Banc of California to terminate soccer stadium agreement


The company will incur an upfront fee but will save $7 million a year by walking away from a deal with the Los Angeles Football Club.


California bill to pause foreclosures, repos draws fire from lenders


A Democratic measure to freeze foreclosures and auto repossessions through the coronavirus crisis while expanding eligibility for loan forbearance is getting strong pushback from banks and credit unions, which complain it would constrain credit.