California Federal Changes Name: California Federal Savings...

California Federal Changes Name: California Federal Savings & Loan Assn., one of the nation’s largest thrifts, has changed its name to California Federal Bank, reflecting an increasing homogenization of financial services offered by banks and thrifts. Several of the state’s largest savings and loans now call themselves banks, including Great Western Bank in Beverly Hills and First Nationwide Bank in San Francisco. The name change “clearly recognizes the evolution of the financial services industry along common lines,” said John R. Torell III, California Federal’s chief executive.