California

The San Jose, Calif.-based credit union decided to make the change because there were too many other financial institutions with a similar name.

Bonnie Lee will succeed C.G. Kum, who is retiring as CEO next month.

A bill recently introduced in the California state assembly would create a framework for local governments to set up their own taxpayer-owned banks. It’s more specific than other public-bank proposals, which raised more questions than they answered, but still faces long odds.

Mendell Thompson, who has led the California-based institution for 33 years, will leave in March 2020.

The Los Angeles bank will take a $1.4 million hit to earnings after the multifamily properties sold for less than their book value.

Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.

The 14th annual California and Nevada Credit Unions for Kids Wine Auction was supported by 67 credit unions, business partners and hospitals.

Some lenders, especially in markets like California, are preparing in case of a technology-industry stumble that hurts business, real estate and other loan segments. Whether those fears are well founded is a matter of debate.

Mechanics Bank was close to buying Rabobank's U.S. unit last year, but pressed pause when the seller ran into serious legal troubles.

The state's financial regulator says Fast Money Loan charged consumers interest rates and fees above the state's usury cap, and operated unlicensed storefronts.