california

The California-based institution joins a small group of CUs that represent only about 7% of institutions but hold about 70% of industry assets.

The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many consumer loans.

The legislation, which would apply to both banks and nonbanks, would give borrowers the right to sue for damages when servicing violations occur.

The agency said national banks could close offices “at their discretion” as a safety precaution if they are affected by fires in California and Colorado.

Treasurer Ma has championed programs to give minority and women-owned businesses a seat at the table throughout her career. A mission of the Treasurer is increasing diversity to increase equitable outcomes.