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FCAL ordered to pay fine, set up $1.1M restitution fund for prepaid card users

By   /  Friday, May 31st, 2013  /  Banking & Finance, Banking Industry  /  Comments Off on FCAL ordered to pay fine, set up $1.1M restitution fund for prepaid card users

Westlake Village-based First California Financial Group has agreed to pay a $600,000 fine and set up $1.1 million in restitution to more than 64,000 consumers who used its prepaid debit card products. The announcement from the Federal Deposit Insurance Corp. comes on the day that Los Angeles-based PacWest Bancorp’s $237 million acquisition of First California Read More →

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State exec to shed light on insurance exchange costs

By   /  Friday, May 31st, 2013  /  Banking & Finance, Central Coast Health Watch, Small Business, Top Stories, Tri-County Economy  /  Comments Off on State exec to shed light on insurance exchange costs

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Jackson bill could change California e-commerce rules

By   /  Friday, May 24th, 2013  /  Banking & Finance, Technology, Top Stories  /  Comments Off on Jackson bill could change California e-commerce rules

State Sen. Hannah-Beth Jackson, D-Santa Barbara, has introduced a bill that would sharply limit the information that online sellers can gather and keep when customers use a credit card to pay for a transaction. The bill, SB 383, is designed to address the outcome of the California Supreme Court decision earlier this year in Apple Read More →

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Amgen teams up for Chinese joint venture

By   /  Friday, May 17th, 2013  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Amgen teams up for Chinese joint venture

Thousand Oaks-based biotech giant Amgen has teamed up with a Chinese company for a joint venture to sell its colorectal cancer drug Vectibix there. Zhejiang Beta Pharma will be 51 percent owner of the the new firm, which will be known as Amgen-Beta Pharmaceuticals. The deal is still subject to approval from Chinese authorities. Amgen’s Read More →

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Moorpark mints new public company: PennyMac workforce in city reaches 1,000

By   /  Friday, May 17th, 2013  /  Banking & Finance, Banking Industry, Features, Personal Finance, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Moorpark mints new public company: PennyMac workforce in city reaches 1,000

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FCAL merger with PacWest set to close May 31

By   /  Tuesday, May 14th, 2013  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on FCAL merger with PacWest set to close May 31

Los Angeles-based PacWest Bancorp and Westlake Village-based First California Financial Group have received the go-ahead from federal banking regulators to finalize a $237 million merger. The deal, which will merge First California into PacWest and likely result in about a dozen overlapping branches being shuttered, is expected to close on May 31. The banks said Read More →

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PennyMac shares jump 2.6% on second day of trading

By   /  Friday, May 10th, 2013  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on PennyMac shares jump 2.6% on second day of trading

Shares of PennyMac Financial Services climbed another 2.6 percent the day after they started trading publicly for the first time. The Moorpark-based company, founded in 2008 by former top executives at Countrywide Financial Corp., raised just over $200 million in its initial public offering of stock after opening with a share price of $18.25 on Read More →

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