California Federal Bank was awarded just $23 million in damages Friday in the latest court decision in the regulatory goodwill cases.

The thrift, a subsidiary of Golden State Bancorp, San Francisco, was seeking $1.5 billion of damages to compensate for the government's eliminating supervisory goodwill after Cal Fed acquired five failing thrifts in the early 1980s.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.