BANKING/FINANCE
Compiled by James S. Granelli / Times staff writer
Depositor Beware: The State Banking Department is warning consumers and bankers that an unlicensed financial company may be operating illegally in California and that its name may be confused with Pioneer Bank in Fullerton.
The state agency asks that anyone dealing with Pioneer Development Bank--believed to be based in Alberta, Canada, or in North Carolina--call the agency’s legal division.
So far, though, Pioneer Bank doesn’t appear to be hurt by the out-of-state operation, said its president, Richard Boyle. He said he has never heard of Pioneer Development Bank and hasn’t received any calls from customers saying they mistakenly dealt with that company.
