California

The Federal Reserve Board has lifted enforcement actions against four financial companies.

MOUNTAIN VIEW, Calif. -- The Target Corp. data breach, estimated to have cost credit unions at least $30 million so far, is doing much more than lightening CUs' wallets -- it's changing the way they approach fraud prevention and increasing attention on EMV.

Business Partners, a credit union service organization in Northridge, Calif., has named financial services veteran Pamella Easley as its president and chief executive officer.

Business Partners, a credit union service organization in Northridge, Calif., has named financial services veteran Pamella Easley as its president and chief executive officer.

The increased scrutiny, mortgage bankers complain, would end recent attempts to provide home loans to borrowers with weaker credit, something the FHA has been trying to spur for years.

Citadel EFT, a credit card processing firm, announced this week that it is exploring ways to allow state-licensed marijuana businesses to accept electronic payments from their customers.

Community West Bancshares in Goleta, Calif., has promoted Michael Phlaum to executive vice president and chief operating officer of its bank unit.

Citadel EFT, a credit card processing firm, announced Tuesday that it is exploring ways to allow state-licensed marijuana businesses to accept electronic payments from their customers.

Union Bank in San Francisco and its Japanese parent company plan a series of changes to its corporate names and structure, all in response to the Federal Reserve Board's plan to overhaul the way it supervises foreign banks.

The founder of Pacific Commerce Bank (PFCI), Kenneth Kasamatsu, will retire at the beginning of April to pursue other interests.

Wells Fargo (WFC), the nation's largest mortgage lender, plans to eliminate 700 more jobs as fewer borrowers are looking to refinance their mortgage loans.

City National (CYN) in Los Angeles is transferring an executive to become head of its bank's New York private client services group.

Keith Wilton previously served as an executive vice president at Santa Barbara Bank & Trust, which is now owned by UnionBanCal. Before that, he was president of the specialty finance group at Greater Bay Bancorp, which was sold to Wells Fargo (WFC) in 2007.

Vibra Bank in Chula Vista, Calif., has hired a president and chief executive.

Central Valley Community Bancorp (CVCY) in Fresno, Calif., has named James Ford president of its bank.

The $300 million-asset bank said in a press release Friday that Theodore Biagini, 73, had been chairman since its January 2007 opening.

Cathay General Bancorp (CATY) of Los Angeles reported earnings of $31.9 million for the fourth quarter of 2013, an increase of 12.7% from the same quarter a year prior.

City National Corporation (CYN) of Beverly Hills, Calif., posted net income of $55.1 million for the fourth quarter, up 17% from the same quarter a year earlier.

East West Bancorp (EWBC) in Pasadena, Calif., reported improved quarterly results after credit costs declined.

TriCo Bancshares (TCBK) in Chico, Calif., has agreed to buy North Valley Bancorp (NOVB) in Redding, Calif.