California

SAN JOSE, Calif. — How incredible is the housing market in and around the fabled Silicon Valley, the Northern California home of innumerable tech companies?

SAN FRANCISCO — As credit union leaders from across the U.S. flock here for CUNA's America's Credit Union Conference this week, they will find most San Francisco Bay Area CU executives with big smiles on their faces.

SAN JOSE, Calif. — Should credit union in the Bay Area be worried about a housing bubble?

Opus Bank (OPB) in Irvine, Calif., is turning its health care banking into a national operation.

City National Bank in Los Angeles has agreed to sell its retirement services business to OneAmerica, an insurance and asset management firm.

Opus Bank (OPB) in Irvine, Calif., has launched a small-business banking division.

MOUNTAIN VIEW, Calif. — Credit unions should partner with members to battle all the mobile banking attacks that will likely strike the United States following the first major mobile security threat to hit the nation earlier this month.

Open Bank (OPBK) in Los Angeles has raised $30 million in a private offering of common stock.

The company is suing Basswood Capital, claiming the activist hedge fund unlawfully accumulated a large stake by violating a confidentiality agreement. It also claims that Basswood's meddling resulted in a subpar capital raise last month.

The state of California is seeking a 12-month license suspension for CashCall, a high-cost lender that's come under fire in numerous other states.

The Chicago Federal Home Loan Bank reaches agreement with Redwood Trust so member institutions can sell loans to the private-label issuer.

PLEASANTON, Calif. — Even for information technology veterans, undertaking a core conversion is a daunting challenge. And for good reason as the core touches all moving parts — from back office to member interfaces and all points in between.

SAN BERNARDINO, Calif. – Pete Aguilar, a former employee of Arrowhead Credit Union, appears to have claimed the second spot in this week's primary election for California's 31st congressional district.

LOS ANGELES — Moneyworks, a startup that's preparing to roll out its personal financial management app, took home the $10,000 prize in a financial innovation contest Friday.

Union Bank in San Francisco has added five new directors, including a former bank regulator, as part of a series of changes to its corporate names and structure.

What lays ahead in the ever-changing payments marketplace? Credit Union Journal asked some industry experts and here's what they said.

American Express can provide affordable products to the unbanked and still make a profit, company executive Dan Schulman said at the Emerge conference. He was vague on details but hinted that its prepaid cards built on an lower-cost software platform are part of the answer.

Californians picked Republican Neel Kashkari, a political newcomer who ran the federal bailout of the U.S. banking system, to challenge incumbent Democrat Jerry Brown for governor in November.

CU Bancorp (CUNB) in Encino, Calif., has agreed to buy 1st Enterprise Bank (FENB) in Los Angeles.

BofI Holding (BOFI) in San Diego, the parent of BofI Federal Bank, is mourning the passing of Jerry F. Englert, a company founder and member of the board of directors.