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Regulator Lifts Bank Consent Order

A consent order between Santa Clara Valley Bank and its federal regulator has been terminated effective Nov. 12. The financial institution, based in Santa Paula, entered into the decree two years ago with the Office of the Comptroller of Currency over mortgage-related issues that led to financial weakness. Santa Clara Valley Bank has three branches, including one in Valencia, Steps taken by the bank leading to the termination of the consent order were developing and implementing a plan to maintain strong capital levels, improving internal controls on the loan portfolio, and revising and expanding the bank’s long-term business plan and budget. “Having the order lifted will enable SCV Bank to focus its full attention to its core business,” said Chairman Scott K. Rushing in a prepared statement.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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