California

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.

Banc of California in Irvine has named James McKinney its new chief financial officer. McKinney joined the $6.4 billion-asset bank in September as chief accounting officer.

Wells Fargo has agreed to pay $81.6 million to settle a federal investigation into its alleged failure to properly notify homeowners of increases in their mortgage payments.

Bank of the West has reached an agreement to become the official bank of its neighbor across San Francisco Bay, the University of California, Berkeley.

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

WireCash, an online marketplace for international remittances, has added the Brazilian company Pontual to its platform.

JPMorgan Chase agreed to pay California $50 million to resolve claims the bank cheated tens of thousands of credit-card customers while collecting debts from them, California Attorney General Kamala Harris said.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

Opus Bank in Irvine, Calif., has promoted Jennifer Simmons to chief operating officer and appointed her to the executive committee.

Wells Fargo has eliminated foreign transaction fees for transactions made by small businesses made outside the U.S.

First Northern Community Bancorp in Dixon, Calif., has exited the Small Business Lending Fund.