california

CECL may not be the bogeyman banks fear

08/09/18

While the looming loan-loss accounting standard has been criticized for its complexity and the potential cost to implement, some advocates believe it could also lead to better pricing decisions and improve communication within a bank.

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Fake employer mortgage fraud widespread in California, Fannie warns

08/09/18

A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.

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LendingClub loss widens on legal, regulatory and impairment costs

08/07/18

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.

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Two former bank executives sentenced for role in Calif. bank's failure

08/06/18

Bankers at Sonoma Valley Bank were convicted of bank fraud, money laundering and other offenses.

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Low-income renters are being displaced. Is it a bank problem?

07/27/18

With values on multifamily properties soaring, some building owners are using aggressive tactics to push out existing tenants to make room for higher-earning ones. That’s raising questions about whether their lenders are abetting this behavior.

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States still call the shots on subprime lending

07/24/18

The creation of the Consumer Financial Protection Bureau was widely expected to centralize regulation of payday and other high-cost loans in Washington. It hasn’t worked out that way.

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East West released from 3-year-old enforcement order on BSA compliance

07/24/18

In a 2015 enforcement action, the San Francisco Fed said it had identified problems with the Pasadena, Calif., bank’s BSA and anti-money-laundering compliance programs.

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Pacific City Financial in Calif. plans IPO

07/19/18

The Los Angeles company, which focuses on Korean-Americans, aims to raise $50 million.

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LendingClub turns to outsider to oversee credit operations

07/17/18

The company, which is dealing with a lawsuit from the Federal Trade Commission tied to certain fees, hired Ronnie Momen from GreenSky as its chief lending officer.

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Increased construction lending boosts PacWest earnings

07/17/18

The Los Angeles company's second-quarter profit also benefited from last fall's purchase of CU Bancorp.

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