A bill recently introduced in the California state assembly would create a framework for local governments to set up their own taxpayer-owned banks. It’s more specific than other public-bank proposals, which raised more questions than they answered, but still faces long odds.
Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.
Some lenders, especially in markets like California, are preparing in case of a technology-industry stumble that hurts business, real estate and other loan segments. Whether those fears are well founded is a matter of debate.
The state's financial regulator says Fast Money Loan charged consumers interest rates and fees above the state's usury cap, and operated unlicensed storefronts.
