Is Cathay Bank a Chinese bank?
Cathay Bank is not a bank headquartered in or owned by entities from the People's Republic of China; rather, it is an American commercial bank headquartered in Los Angeles, California. Established by prominent Chinese American visionaries in 1962, it was specifically created to provide banking access to early immigrant communities within the United States financial regulatory system. While it caters heavily to Asian American clientele and maintains historical cultural naming connections, it operates entirely as a domestic United States chartered financial institution subject to American banking laws.