Downey Financial Corp

Logo credit: Downey Financial Corp. Downey Financial CEO Daniel Rosenthal, above, resigned on July 24, 2008 amid mounting losses for Downey Savings & Loan. One of the firm's founders, Maurice McAlister, also quit as board chairman.

Latest News

View news from:  All  |  L.A. Times Only

• U.S. agency is blamed in Downey fall

  By E. Scott Reckard  |  June 18, 2009

  From Los Angeles Times

• Lancaster bank official held captive, forced to open vault

  By Alexandra Zavis and Ruben Vives  |  December 3, 2008

  From Los Angeles Times

• Downey Financial files for Chapter 7 bankruptcy

  From Reuters: Business News  |  November 26, 2008

 

• Downey Financial files for Chapter 7 liquidation

  November 26, 2008

  From Los Angeles Times

  Downey Financial Corp., the parent company of the California savings and loan seized by regulators Friday, filed a bankruptcy petition to... more

• DOWNEY DEAL IS NEARLY SEAMLESS

  By E. Scott Reckard and Tiffany Hsu  |  November 25, 2008

  From Los Angeles Times

  U.S. Bancorp's weekend takeovers of failed Downey Savings & Loan and PFF Bank appear to have gone smoothly for customers and bank employees... more

• Two lending institutions bite the dust

  L.A. Land  |  November 22, 2008

  From Los Angeles Times

  Federal regulators pulled the plug on both Newport Beach-based Downey Savings & Loan Assn. and PFF Bank & Trust of Pomona on Friday, placing... more

• Downey Savings, PFF Bank seized by federal regulators

  November 22, 2008

  From Los Angeles Times

  The Southern California thrifts are the latest to fail in the mortgage meltdown. U.S. officials say the banks' branches will continue operating... more

• U.S. Bancorp acquires Downey, PFF deposits

  From Reuters: Business News  |  November 22, 2008

  WASHINGTON (Reuters) - US Bancorp agreed to acquire the deposits of Downey Savings and Loan Association and PFF Bank & Trust, the latest... more

• Downey, PFF seized by regulators

  By E. Scott Reckard and Tiffany Hsu  |  November 22, 2008

  From Los Angeles Times

  Federal regulators seized Downey Savings & Loan and PFF Bank & Trust late Friday, saying hundreds of millions of dollars in bad loans from... more

• Death watch for Downey Savings?

  By E. Scott Reckard  |  November 21, 2008

  From Los Angeles Times

  Reeling from mortgage loan losses, Downey Financial Corp. warned last week that its choices were stark: Raise capital or risk a government... more

• Downey shares sink on warning Lender's shares sink below $1

  By Tom Petruno  |  November 12, 2008

  From Los Angeles Times

  The depressed stock of Newport Beach-based mortgage lender Downey Financial Corp. crumbled below $1 a share Tuesday after the company formally... more

• For the record

  October 24, 2008

  From Los Angeles Times

  An article in Business on Thursday about Downey Financial Corp.'s quarterly results said the company failed to meet the regulatory minimums... more

• Downey Financial Corp. reports $81 million in losses

  By William Heisel  |  October 23, 2008

  From Los Angeles Times

  The parent company of Downey Savings reported widening losses today as more borrowers fell behind on their mortgage loans. Newport Beach... more

• Downey Financial names new CEO

  September 23, 2008

  From Los Angeles Times

  Downey Financial Corp. named Charles Rinehart chief executive to help the Newport Beach savings and loan try to rebound from four straight... more

• Oversight pressure felt at Downey

  By William Heisel and E. Scott Reckard  |  September 6, 2008

  From Los Angeles Times

  Downey Financial Corp. has been under intense regulatory scrutiny since at least June, according to filings it made with the Securities and... more

BusinessBETA