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| April 30, 2017

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California Archives -

Banc of California chooses outsider to replace CEO who resigned amid scandal

April 29, 2017 |

Banc of California this week named a new chief executive, an outsider who will be tasked with leading the institution as it tries to emerge from a shake-up and scandal that led to the last CEO’s resignation.

Doug Bowers, formerly the chief executive of Square 1 Financial in Durham, N.C., will take…

L.A. Times – Business

Federal regulator ratchets up effort to regulate tribal lenders, suing four in California

April 28, 2017 |

The Consumer Financial Protection Bureau launched another salvo Thursday in its battle against the tribal lending industry, which has claimed it’s not subject to regulation by the agency.

The federal regulator sued four online lenders affiliated with a Native American tribe in Northern California,…

L.A. Times – Business

How one buyer describes the Southern California housing market: ‘Insane’

April 25, 2017 |

The spring home buying market is busy this year and prices are rising, a result of too little supply and too much demand.
L.A. Times – Business

Unemployment in California falls to 4.9%, lowest since 2006

April 23, 2017 |

California piled on 19,300 jobs in March, and unemployment dropped to 4.9%. It was the first time the state’s jobless rate fell below 5% since December 2006.
L.A. Times – Business

3 Killed by Gunman in California

April 18, 2017 |

Three people were shot and killed Tuesday in California, by a man police say hates white people, the Los Angeles Times reports. According to the AP , all three victims were white. Fresno police chief Jerry Dyer is calling it a “random act of violence.” The shooter—who police have identified…

Leaving coastal California is a ‘no-brainer’ for some as housing costs rise

April 17, 2017 |

Huntington Beach residents Chris Birtwistle and Allison Naitmazi were about to get married and decided it was time to buy a home.

They wanted to stay in the area but couldn’t find a house they both liked and could reasonably afford — despite a dual income of around $ 150,000.

So they decided to…

L.A. Times – Business

Apple Gets Permit to Test Autonomous Vehicles in California

April 14, 2017 |

Apple secured a permit for autonomous-vehicle testing in California, the clearest sign to date of progress in the company’s efforts to develop self-driving car technology. US Business

GM to hire 1,100 workers in California to bolster self-driving car program; gets $8 million tax break

April 14, 2017 |

A state economic development board on Thursday approved an $ 8 million tax credit for General Motors as the company looks to expand its autonomous vehicle division with more than 1,100 hires in California.

The GM tax credit was among more than $ 91 million in California Competes incentives for 114…

L.A. Times – Business

Michigan lender settles allegations it overcharged California borrowers

April 11, 2017 |

Mortgage lender and servicer United Shore Financial Services has agreed to pay at least $ 1.4 million to settle allegations it overcharged California borrowers for interest, a state regulator announced Monday.

The firm has already refunded more than $ 293,000 to thousands of borrowers and will dole…

L.A. Times – Business