California

Banc of California in Santa Ana will cut roughly 9% of its workforce as it looks to trim $15 million in expenses.

Sponsoring so-called pitch competitions helps lenders gain Community Reinvestment Act credit and gather deposits.

Former chief operations officer Anne McClure spent nearly two months as interim CEO.

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.

A number of banks are upgrading technology and hiring more lenders to better reach small-business owners, who are becoming more confident in their outlooks.

A ballot initiative that taps into the public's anger about online data abuses has qualified for the November ballot. But lawmakers are considering whether to head off the statewide vote by passing a measure that may be more amenable to the financial industry.

The trend may be partly attributable to a strong economy. Growth in high-cost installment lending could also be a factor.

C.G. Kum, who has been the Los Angeles company's CEO the past five years, plans to retire in May.

A bill moving through the California Legislature seeks to tame the largely unregulated world of online small-business lending. If passed, it would be the first of its kind nationally, but so far it has failed to satisfy either the industry or its critics.

Umpqua Bank has hired veteran lender Tom Farrell to help it grow its homebuilder finance group in California.