abstract:California Federal Bank, often abbreviated to "Cal Fed", was a savings and loan bank in California with the corporate headquarters being located at 5670 Wilshire Boulevard, in Los Angeles. It existed from 1926 until 2002, when its parent company, Golden State Bancorp, was acquired by Citigroup, resulting in the bank being merged into Citibank.
Gary Gordon a stock analyst at Portales Partners, an independent research firm, says there are three big differences between WaMu and the Californiabank taken over by federal regulators.
On February 11, 2010, Ohayon and Papera were indicted in federal court in the Northern District of California for conspiracy to commit bank fraud, bank fraud, and money laundering.
Customers lined up outside Indymac branches in Southern California yesterday for a second straight day after the federal government took over the bank late Friday.