Publications

Monthly Bulletin


Volume 16, Issue 02 - August 2012


Commissioner Barnes Addresses NACAB Gala

On August 10, 2012, Commissioner Teveia R. Barnes delivered the keynote address to the National Association of Chinese American Bankers (NACAB) Gala at the San Gabriel Hilton, in San Gabriel California. 

In her remarks, Commissioner Barnes touched on a wide range of topics, including the volume and importance of trade between China and California; the California State Trade and Export Promotion program, (STEP); resolution plans for covered companies under Dodd-Frank (“living wills”); the extension of the Transaction Account Guarantee (TAG) Program and the need to restore confidence in the banking industry in the wake of scandals that have undermined trust in the financial services industry.

A link to the full text of her remarks can be found here (PDF).


DFI E-mail List Service and Social Media, Blog and Portal

The DFI offers a variety of information services that deliver current news and information about the DFI, its mission, and the financial industry. The e-mail service and social media, blog and portal accounts offered below are a way to stay up to date.
Email Service

  • DFI News - Delivers news, bulletins, alerts, and announcements about the DFI, its mission, and employees of the DFI as it ensures the safety and soundness of California’s state-chartered financial institutions. DFI’s email service also provides information about community development, small business financing, financial literacy, consumer protection, and other consumer issues and updates and announcements about outreach and educational opportunities for financial institutions.
  • DFI News Feed – Delivers press releases via RSS Feed.

Social Media, Blog and Portal

  • DFI on Twitter – @CaliforniaDFI - Provides news about financial literacy, consumer protection, and other consumer issues.
  • DFI on Twitter - @Bankon CA – Delivers information and resources for the unbanked/underbanked and community outreach opportunities and resources for financial institutions.
  • DFI on Facebook – Cal DFI – Delivers information and news about financial literacy, consumer protection, and other consumer issues.
  • DFI on Facebook – Bank on California – Provides information and resources for the unbanked/underbanked and community outreach opportunities and resources for financial institutions.
  • DFI Blog – California Financial Literacy Month Blog - Delivers via email subscription or RSS financial education news and announcements.
  • DFI Financial Literacy Portal – The new portal, launched in April 2012, provides news, information and a variety of resources on topics that are of interest to consumers, community organizations, educators, employers, parents, and financial literacy providers.

For questions on any of these communication services, please contact Alana Golden, Public Information Officer, 916-323-7012.


Commercial Bank Activity

Acquisition of Control

Richard Arnold, to acquire control of Premier Business Bank
Filed: 4/19/12
Approved: 5/3/12

Purchase of Partial Business Unit

Opus Bank, Irvine, to acquire ten branch offices of Pacific Western Bank, Los Angeles
Approved: 8/6/12

Merger

American Perspective Bank, San Luis Obispo, to merge with and into Pacific Western Bank, Los Angeles
Effected: 8/1/12

Desert Commercial Bank, Palm Desert, to merge with and into First Foundation Bank, Irvine
Effected: 8/15/12

Gateway Business Bank, Cerritos, to merge with and into Pacific Trust Bank, FSB, Irvine
Effected: 8/17/12


Premium Finance Company Activity

New Premium Finance Company

Green Premium Finance Corporation
2955 E. Hillcrest Drive, Westlake Village, Ventura County
Address changed from 15455 San Fernando Mission Boulevard, Mission Hills, Los Angeles County
Opened: 8/30/12 (Application was withdrawn on 9/28/11 and withdrawal was rescinded on 8/30/12)


Foreign (Other State) Bank Activity

Discontinuance of Facility

American Enterprise Bank
8775 Sierra College Boulevard, Granite Bay, Placer County
Notified: 7/20/12
Discontinued: 3/19/10

Bank 2
120 Railroad Avenue, Richmond, Contra Costa County
Discontinued: 9/30/11

Capmark Bank
4675 MacArthur Court, Newport Beach, Orange County
Discontinued: 4/30/12

Community South Bank
2377 Gold Meadow Way, Gold River, Sacramento County
Discontinued: 3/31/08

Crescent Bank & Trust
4614 Sheridan Road, Oceanside, San Diego County
Notified: 8/1/12
Discontinued: 3/25/05

Darien Rowayton Bank
144 Calle de Andalucia, Redondo Beach, Los Angeles County
Discontinued: 12/16/11

Investors Bank & Trust Company
US Bank Plaza, 980 9th Street, Sacramento, Sacramento County
Discontinued: 7/1/07

Irwin Union Bank and Trust Company
12677 Alcosta Boulevard, San Ramon, Contra Costa County
Discontinued:  9/18/09

RBC Builder Finance
2175 North California Boulevard, Walnut Creek, Contra Costa County
Discontinued: 3/3/12

Regions Bank
2029 Century Park East, Los Angeles, Los Angeles County
Discontinued: 11/1/06

Texas Capital Bank, N.A.
14895 E. 14th Street, Suite 400, San Leandro, Alameda County
Discontinued: 7/31/06

UPS Capital Business Credit
1515 West 190th Street, Gardena, Los Angeles County
Discontinued: 8/23/12


Credit Union Activity

Merger

East Bay Postal Credit Union, Oakland, to merge with and into Pacific Postal Credit Union, San Jose
Approved: 3/16/12
Effected: 7/12/12

Electric Federal Credit Union, San Jose, to merge with and into Alliance Credit Union, San Jose
Approved: 8/2/12

Bylaw Amendment

Three credit unions received approval for three bylaw amendments during July 2012.

Field of Membership

One credit union received approval to add one new field of membership during July 2012.

Variance

One credit union received approval for request for variance to sections of the California Code of Regulations during July 2012.


Money Transmitter Activity

New Money Transmitter

Choice Money Transfer, Inc.
Approved: 8/3/12

PreCash, Inc.
Filed: 8/10/12

TouchPay Holdings, LP
Filed: 5/31/12

USForex, Inc.
Approved: 8/3/12

Voluntary Surrender of License

Trans-Fast Remittance, Inc.
Effected: 8/9/12



TEVEIA R. BARNES
Commissioner of Financial Institutions


Bulletin for Month ended     

August 2012, issued pursuant
to Financial Code section 376