Bank
California Business BankAbout
This business has 1 alert
Important information
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:The Commissioner of Financial Protection and Innovation v California Business Bank
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On December 1, 2023, the California Business Bank entered into a settlement agreement with the Commissioner of Financial Protection and Innovation. The settlement agreement settles allegations that the business has not been in compliance with the 2020 Consent Order since February 5, 2021 as the bank failed to have and maintain qualified management. Under terms of the Settlement Agreement, the business agreed to pay a civil monetary penalty of $250,000.00 and that Chairman of the Board, Richard Tan, agreed to refrain from participating in day-to-day activities of running the Bank.
This action is final.
About This Business
Business Details
- BBB File Opened:
- 4/18/2016
- Business Started:
- 11/10/2011
- Type of Entity:
- Sole Proprietorship
- Alternate Names:
- My CBB Digital Bank
Additional Contact Information
- Additional Email Addresses
- Primary: Email this Business
Licensing information
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
Additional Information
- Other Resources
- Federal Deposit Insurance Corporation
Consumer Response Center
Kansas City MO 64108
Fax Number: 816-234-9060
http://www.fdic.gov - Business Categories
- Bank
Industry Tip
More Resources
Featured Content
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.