BANKING & FINANCE - Sept. 2, 1994
From Times Staff and Wire Reports
Mission Hills Firm to Be Liquidated: Banking regulators in Texas and California moved to liquidate Providence Trust Co., a Texas-based trust company whose Mission Hills office served about 1,650 Californians, after Providence was deemed insolvent. Regulators said Providence took about $3 million in fees that should have been reimbursed to more than 3,000 of its customers in the two states and that liquidation will help those consumers get their share of the money back. No Californians are expected to lose money and many may get refunds, the regulators said.
