California

Two of the largest credit union service organizations, both based in California, report that business is good, despite numerous financial and regulatory challenges.

SAN DIEGO — A new credit union service organization is helping credit unions collect on charged-off accounts and return "prior prime" members to their former CUs.

NEWPORT BEACH, Calif. — Credit unions frequently cite compliance as one of their biggest burdens. And now, so are credit union service organizations.

SAN DIEGO — Class action lawsuits related to Target Corp.'s massive data breach will be consolidated in the retailer's home state of Minnesota.

Popular (BPOP) in San Juan, Puerto Rico, could be looking to sell its banking operations in Chicago and Los Angeles.

Opus Bank in Irvine, Calif., has launched an initial public offering that could yield as much as $223 million for the company and its shareholders.

Ellie Mae, the mortgage technology vendor, confirmed late Tuesday that its recent outages, which have forced lenders to delay loan closings, resulted from a flood of service requests "characteristic of a distributed denial of service" attack.

ONTARIO, Calif. — To help credit unions build their auto-lending portfolios in an increasingly competitive marketplace, CU Direct has formed the North American Automotive Marketing Council.

The Los Angeles companies said Tuesday that the Federal Reserve Board has approved the $2.3 billion deal.

ALEXANDRIA, Va. — NCUA issued its prohibition orders for the month of March on Monday, this time barring only one person from participating in the affairs of any federally insured financial institution.

SAN FRANCISCO — SF Police Credit Union made it official for Eddie Young last week, announcing he is the new head of the $730 million institution. Young had been serving as acting president and CEO since September 2013.

The Federal Deposit Insurance Corp. issued two consent orders and terminated 21 enforcement actions in February, according to its latest roundup of regulatory orders.

Golden Pacific Bancorp and financial technology firm Better Finance have teamed up to create an online lending program that is designed to sharply reduce the time it takes to approve and process an SBA loan.

Los Angeles banker Maria Contreras-Sweet has been confirmed as the new head of the U.S. Small Business Administration.

EL SEGUNDO, Calif. — A recent study found the No. 1 feature consumers look for in a bank or credit union is low or no fees, which should be an advantage credit unions can leverage, according to one analyst.

PacWest Bancorp's pending purchase of CapitalSource has been pushed back as the deal awaits approval from the Federal Reserve Board.

PLEASANTON, Calif. — For many credit unions, one of the biggest technology undertakings is upgrading the core system, which is on tap for Safe America Credit union.

As home equity lines of credit hit the five-year mark and borrowers have to start repaying principal, lenders might have to modify these second liens to avert defaults.

River Valley Community Bank (RVVY) in Yuba City, Calif., is set to have a new chief executive.

Oak Valley Bancorp (OVLY) in Oakdale, Calif., has restated its fourth-quarter earnings after discovering that it made an error accounting for a common stock dividend.