Archive for March, 2011

Are Payday Loans Dead?

The landscape for Payday Loans and other small dollar-amount credit markets is changing, according to a report by the Mercator Advisory Group. At least once in your lifetime, you are likely to need more money than you have available. It may be for an emergency car repair, a major purchase, taxes or a bill that […]


Analyst Company Says Underwater Mortgage Crisis Continues, Slow to Recover

Zacks Equity Research company has revealed some sobering information about the state of the mortgage industry:


California United Bank President Appointed to Board of Directors for San Fran Fed

California United Bank has appointed David Rainer, the Bank’s Chairman, to the Board of Directors of the Federal Reserve Bank of San Francisco, Los Angeles Branch for a term which will expire December 31, 2013.


Fourteen California Collection Departmeent Employees Certified

Many people may not know this, but collection agents go through extensive training to learn how to hound you for past-due balances. of your finest California bank collection employees have recently been certified.


California Bank Agrees to Acquire Cascade Bank in Washington

Opus Bank has entered an agreement to acquire Washington-based Cascade Financial and its subsidiary Cascade Bank.


One in Three Consumers Hurt By Gas Prices, Index Says

One-in-three U.S. consumers (32 percent) has already significantly reduced discretionary spending because of the increase of rising gas prices, according to the monthly RBC Consumer Outlook Index. With the national average price at approximately $3.20 per gallon at the time this survey was conducted (February 25-28, 2011) another one-in-five (18 percent) say they would reduce spending if gas prices climb to $3.75 per gallon. Four-in-10 (41 percent) place their pain threshold at $4.00 per gallon or more.


Two California Banks Shut Down by FDIC

Two more California banks have failed and subsequently are now under new management.

San Luis Trust Bank, based in San Luis Obispo, opened last week as a new branch of First California Bank. San Luis Trust had $333 million in total assets, and First California has $1,7 billion, according to the FDIC. The bank was also mainly focused on investing in real estate. Luckily, the bank has just one office to convert into First California colors.

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