United Security Bancshares is the holding company for United Security Bank, a commercial bank serving clients throughout the Central San Joaquin Valley of California. The Bank provides a range of banking services to individuals, businesses, and professionals through several branch offices, loan production offices, and the Internet.
The choice of the Federal Reserve's top official on the West Coast to be the head of its New York regional bank is generating controversy because he helped regulate Wells Fargo during its fake accounts scandal and is another white male at an institution critics complain lacks diversity.
THE president of the Federal Reserve Bank of New York is perhaps the second most important person in America’s financial hierarchy, behind only the chairman of the Federal Reserve. Unlike the presidents of the other regional Reserve Banks, he sits permanently on the committee in Washington, DC that sets interest rates.
The New York Fed named Federal Reserve Bank of San Francisco chief John Williams as its next president, touting his monetary-policy expertise despite criticism over his supervision of Wells Fargo and calls for a woman or minority candidate to fill the post....WFC
The committee co-chairs said Williams best fulfilled all the requirements they’d laid out as their priorities.
Better Markets, a non-profit organization, says a potential promotion by Federal Bank of San Francisco Fed President John Williams to lead the Federal Reserve Bank of New York would reward failure - because the San Francisco Fed failed to prevent widespread customer abuses at Wells Fargo....WFC
For its next president, the bank should look to Main Street, not Wall Street.
The appointment of the New York Fed's president will be the first test of Powell’s commitment to diversity.
Despite being one of California's biggest cities, Fresno has always suffered from a lack of professional sports teams. Ray Beshoff, a Liverpool native who co-owns car dealerships in Fresno and San Jose, decided it was time to bring a pro soccer team to town.
On Wednesday, Governor Urjit Patel did just that. In one of his most plain speaking speeches he said,
The steep stock market declines and nerve-rattling volatility put new Federal Reserve Chairman Jerome Powell and his colleagues in a bind. The easiest way to calm investors would be to signal a slowdown of interest rate hikes. But that could backfire and push the economy into recession.
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