California

California officials have opened a broad inquiry into the marketplace lending business, seeking data from industry participants that will be used to assess the effectiveness of the state's current regulatory regime.

The $1.1 billion-asset company said in a press release Thursday that Thomas Vertin will also become its president on Jan. 1.

First Republic Bank in San Francisco has promoted Jason Bender to chief operating officer.

An activist investor has called on the lead director of Banc of California in Irvine to disclose details about Chairman and Chief Executive Steven Sugarman's involvement in an investment fund that violated securities laws.

First Republic Bank in San Francisco has promoted Mike Selfridge to the newly created role of chief banking officer.

BBCN Bancorp in Los Angeles has agreed to buy Wilshire Bancorp in Los Angeles.

California Bank & Trust in San Diego has given its chief financial officer the additional titles of president and chief operating officer.

The marketplace lender LoanDepot has securitized $150 million of its unsecured personal loans.

Wells Fargo and Morgan Stanley became the latest big banks Monday to promise to cut their support for the coal industry in the name of reducing the pollution blamed for global warming.

Hanmi Financial has gone public with efforts to merge with BBCN Bancorp in a move the Los Angeles company hopes will scuttle another rumored pairing.

Embattled online lender CashCall has paid nearly $2 million in restitution and fines for allegedly deceiving and overcharging borrowers, California's Department of Business Oversight announced.

California regulators have approved a request from private-equity firm Carpenter & Co. to raise capital for a new state-chartered bank.

Avidbank Holdings in Palo Alto, Calif., has raised $12 million through a private placement of debt.

Wells Fargo has promoted Tim Sloan to president and chief operating officer, a move that likely puts him on a short list of candidates to succeed John Stumpf as chief executive.

East West Bancorp has been placed under an enforcement action for anti-money-laundering compliance weaknesses, as it continues a plan to spend an estimated total of $12 million on program upgrades.

First Republic Bank in San Francisco plans to raise up to $230 million from an offering of common stock.

RBB Bancorp in Los Angeles has agreed to buy TFC Holding, the parent of TomatoBank in Los Angeles.

Banc of California in Irvine has named executives to the newly created positions of chief strategy officer and chief investment officer.

Silicon Valley Bank in Santa Clara, Calif., has hired a chief operations officer to replace Bruce Wallace, as he shifts to a more digital-focused role.

Wells Fargo said it does not have any immediate plans to acquire a wealth management business in the U.K., following media reports that it's looking at two companies.