Category: Orange County News

DFPI statement: First Republic Bank

The deposits made into California-chartered First Republic Bank by 11 large banks underscores the importance of regional banks in our banking system. Regional banks provide vital banking services relied upon by communities across California. The Department of Financial Protection and Innovation protects consumers, regulates financial services, and fosters responsible innovation. Read More

Former Wells Fargo executive agrees to plead guilty to obstructing bank examination involving the opening of millions of accounts without customer authorization

The former head of Wells Fargo Bank’s retail banking division has agreed to plead guilty to obstructing a government examination into the bank’s widespread sales practices misconduct, which included opening millions of unauthorized accounts and other products, federal authorities announced today. In a plea agreement filed today in United States Read More

High-speed rail investments continue to lift California economy

Investments in California’s first-in-the-nation high-speed rail project are pumping billions of dollars into California’s economy and contributing to positive economic benefits across the state, according to the California High-Speed Rail Authority’s latest 2022 Economic Analysis Report. “High-speed rail creates jobs and generates income for Californians while paving the way for Read More

State Treasurer Fiona Ma issues statement on vote to support divestment legislation at CalPERS board meeting

California State Treasurer Fiona Ma issued the following statement after the CalPERS board voted to take a position on Senate Bill 252: “It’s time to take the next step in climate action. Divestment sends a message to companies that have shown little interest in seriously addressing a problem that places Read More