California

Private Bancorp of America is the latest bank to report a borrower issue in connection with a high-profile fraud case tied to liquor licenses.

The California Senate passed a bill that could force Uber and other gig economy giants to reclassify their workers as employees.

The unnamed borrower was the victim of an alleged scam by another company.

Both banks focus on the Chinese-American community.

David Justice, chief operating officer, will take over for the retiring RaAnn Wood on Nov. 1.

AltaPacific's recent agreement to sell itself to Banner Corp. came after it started down a list 14 financial institutions last year, held discussions with at least nine suitors, and considered deals with a credit union and a business development company.

Brad Dinsmore, who will also serve as the California company's president, once was in charge of several key lines at SunTrust, including consumer banking and private wealth management.

CDCUs provide essential financial services in underserved communities but these institutions can struggle to keep up with compliance and technology demands.

LA Financial's planned merger into Ventura County Credit Union is expected to be completed in early 2020.

The lawsuit claims that the board didn't properly supervisor management, which allowed former CEO Edward Rostohar to embezzle more than $40 million.

The Los Angeles unit of Royal Bank of Canada plans to use FilmTrack to handle more complex transactions for major networks, studios and distributors.

Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape.

The Washington company will have more than $1 billion in assets in Southern California when the $87 million deal closes.

Several megabanks dominate the market, but First Choice is seeking to expand there by catering to its ready supply of midsize businesses. It's not the only one.

The California Consumer Privacy Act goes into affect next year and other states are likely to follow suit. Credit unions need to evaluate their data management practices.

Christopher Myers will retire as president and chief executive of CVB next spring, and the California bank says it will hire a search firm to begin seeking his replacement.

The institution was formerly known as SF Police CU but can now serve law enforcement officers statewide.

David Cerwinski, who joined the CUSO in 2006, was appointed president of the technology provider.

The San Francisco company said its loan pipeline would be strong the rest of this year.

CUs in both states surpassed total asset milestones, but many business lines are growing at a slower pace than they were one year ago.