Los Angeles Business Journal


Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

U.S. Bank Agrees to $13.5M Settlement Over Foreclosed Homes Upkeep

The L.A. City Attorney’s Office has reached a $13.5 million settlement with U.S. Bank to resolve allegations that the bank allowed hundreds of foreclosed properties in Los Angeles to fall into disrepair, officials announced Thursday.

Inglewood Apartments Draw Investor Universe Holdings

Two Inglewood apartments sold this month to an investor planning to renovate the units and lift rents as part of a plan to capitalize on the city’s appeal to residents priced out of neighboring Westside markets.

Panda Express Grows Alternative Investment Platform

The Panda Restaurant Group announced plans today to expand their family office’s investment platform by bringing in Founding Partner and Managing General Partner of Breakaway Capital Warren Woo, and former Managing Director at Wells Fargo & Co. Carey Do Kim to the investment arm of the Cherng Family Trust Office in Los Angeles.

Banker Charged with Allegedly Taking Bribes from Santa Monica Company

Executives at Santa Monica-based ServiceMesh Inc. raked in nearly $100 million in bonus cash by bribing a former Australian banking executive, according to charges filed Tuesday by federal prosecutors and the Securities and Exchange Commission against the banker.

Wells Fargo Faces Class-Action Lawsuits from Shareholders, Workers

One week after Wells Fargo’s chief executive faced a federal hearing over the bank’s numerous transgressions, the company now faces a multitude of lawsuits filed by customers, shareholders, and former employees.

Movers for Week Ending Sept. 23, 2016

Century City-based Ritter Pharmaceuticals was this week’s biggest mover.

Tease photo

UPS Signs Largest Industrial Lease in Compton

REAL ESTATE: Hub site offered rare space in SoCal

New Compton megawarehouse proves shipshape for UPS in $44 million lease deal.

Tease photo

Incentive Program Proves Costly in Bank Fraud

FINANCE: Fake accounts at Wells Fargo show risk of pushing performance.

Wells Fargo’s fraud fallout underlines how businesses may pay for incentive programs.

Tease photo

Saban ‘Blank Check’ Offering Seeks $235M

Media mogul Haim Saban has priced an initial public offering for his Saban Capital Acquisition Corp., seeking to raise $235 million for the “blank check” company that would acquire an as-yet unidentified media business.

Tease photo

SPECIAL REPORT: Crowdfunding Slow on Draw

New crowdfunding rules have yet to stir big numbers of unaccredited investors.

Ad Technology Could Join Fold At Paper Parent

Idea of owning ad technology firm clicks with Los Angeles Times owner tronc.

Tease photo

Private Equity Firm Opts for Dough, Sells Stake in Pretzel Chain

Levine Leichtman Capital Partners, a Beverly Hills private equity firm, cashed in its chips – or pretzels – when it sold its majority stake in Pasadena pretzel chain Wetzel’s Pretzels to CenterOak Partners, a Dallas private equity firm.

Wells Fargo Slapped with $50 Million Fines in L.A. Settlement

The L.A. City Attorney announced a record-breaking settlement on Thursday in which Wells Fargo Bank was ordered to pay customer restitution and $50 million in civil penalties for opening unauthorized customer accounts.

Tease photo

Banc of California Named Banking Sponsor of LA Rams Foundation

The Irvine-based Banc of California will be the official banking partner of the Los Angeles Rams Foundation, the football team’s charitable organization.

Tease photo

Nontraditional Gets Workout

EMPLOYMENT: L.A. County fertile field for self-employed.

Entertainment and shipping industries have boosted Los Angeles as a home to nontraditional jobs.