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California Department of Financial Protection and Innovation
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- 1California Regulators Seize Struggling Nano Banc●California Seizes Nano Banc, Ending Years-Long Struggles Culminating in Significant Financial Loss
California's Department of Financial Protection and Innovation has seized Nano Banc, closing the chapter on a bank that struggled for years and ultimately recorded significant financial losses. The state regulator took control of the institution after its prolonged troubles, a move that ends its operations and raises questions among depositors and observers about how its losses will be resolved.