BREA, Calif. -- Unionfed Financial Corp. said the Office of Thrift Supervision has approved its capital plan and issued a directive that requires recapitalization by Sept. 23.

The directive terminated a cease-and-desist order in place since April 1991 and superseded a capital plan approved by the OTS in September 1992.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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