LA FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
Bank makes unusual loans for citizenship applications
Pan American Bank is lending money to immigrants to cover the cost of their citizenship applications. And if that wasn’t odd enough, the bank is making money by doing it.
TECHNOLOGY: Matching funds for gamemakers hits glitch as questions arise.
Ouya wanted more games for its console, so it offered matching funds. Suspicions quickly arose that the Santa Monica company was being played
A bill that would eliminate a retroactive tax increase on angel investors passed the Legislature on Thursday and was sent to Gov. Jerry Brown.
Clearlake Capital Group on Tuesday said that it completed the acquisition of Futuris Automotive from Elders Limited.
Los Angeles area employers are expected to continue hiring workers at a modest pace during the fourth quarter, according to a survey from employment agency giant Manpower Inc.
Insurance and wealth-management firm NFP Corp. has expanded its West Coast presence with its acquisition of Insurance West Corp. in Simi Valley.
LENDING: Recent deal vaults value of Broadway’s shares with investors.
Broadway Financial’s recapitalization pays off with increased investor interest.
Platinum Equity announced the closing of its third buyout fund, giving the company about $3.75 billion to acquire and turn around undervalued businesses.
Pacific Commerce Bank on Tuesday announced that it had been released from its final set of regulatory restrictions.
Insurance broker RGEB Employee Benefits expects a 50 percent increase in revenues following its acquisition of group and individual clients from ArcherWeiss Insurance & Financial Services Inc.
Veteran banker Alvin Kang has joined the board of Korean-American lender Commonwealth Business Bank, the bank announced Friday.
The Los Angeles Business Journal’s index of largest local public companies closed down slightly as the broader markets lost ground as well.
In Thursday trading, the Dow Jones industrial average was up 16 points, or 0.1 percent, to 14,841. The Nasdaq climbed 27 points, or 0.8 percent, to 3,620. The S&P 500 rose 3 points, or 0.2 percent, to 1,638. The LABJ Stock Index was unchanged at 163.
In Wednesday trading, the Dow Jones industrial average was up 48 points, or 0.3 percent, to 14,825. The Nasdaq rose 15 points, or 0.4 percent, to 3,593. The S&P 500 climbed 4 points, or 0.3 percent, to 1,635. The LABJ Stock Index was up 1 point to 163.
Santa Monica investment firm Colony Capital promoted two executives on Tuesday to lead its European investment strategy.