Pacific Capital Shuts Out Retirees
In the latest news regarding financially embattled Pacific Capital Bancorp - the parent company of Santa Barbara Bank & Trust and four other Central Coast banks - the holding company has allegedly cancelled the health benefits of its retirees. A former bank administrator who claimed to have had...
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| Published in | The Santa Barbara independent Vol. 24; no. 209 |
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| Main Author | |
| Format | Newspaper Article |
| Language | English |
| Published |
Santa Barbara, Calif
Santa Barbara Independent
14.01.2010
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| Online Access | Get full text |
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| Summary: | In the latest news regarding financially embattled Pacific Capital Bancorp - the parent company of Santa Barbara Bank & Trust and four other Central Coast banks - the holding company has allegedly cancelled the health benefits of its retirees. A former bank administrator who claimed to have had access to the company's innermost financial workings said on the condition of anonymity that the writing was on the wall spelling out the bank's eventual demise as early as 2003. "I'd say it had been coming since they hired a consultant to install a whole new core system (a computer system regulating account transactions and socalled customer relationship management, or CRM)... |
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