Only North Dakota has its own state-owned bank, but policymakers in other states say more public banks are necessary to fully meet society's needs. Among those who proponents say would benefit the most: small-business owners and legal marijuana suppliers and distributors.
The Portland, Ore., company has hired four private bankers from City National as part of a broader effort to provide a full range of services to business owners and high-net-worth households in Orange County and San Diego.
California officials had accused Advance America of wrongly assessing Department of Motor Vehicles fees on its payday loans to skirt the state's interest rate cap.
