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Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Tocaya Organica, Tender Greens Set Merger

Fast-casual restaurant chains Tender Greens and Tocaya have agreed to merge.

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Zest Gives Credit Scores a Reboot

Burbank-based ZestFinance Inc. is focused on developing credit underwriting standards and software to improve credit scoring methods.

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GLP Capital Raises $2.3 Billion for Logistics-Related Real Estate

A well-heeled Santa Monica-based private equity investment manager has raised more than $2.3 billion to buy logistics-related real estate.

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City National Bank Adds Branches, Doubles Workforce

Downtown-based City National Bank has opened more branches during the pandemic, a move that other banks have shied away from as they’ve embraced closures.

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Hope Bancorp to Repurchase $50 Million in Stock

Hope Bancorp Inc., the Koreatown-based holding company of Bank of Hope, announced plans to repurchase up to $50 million of its common stock.

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Jay-Z, Will Smith Back Home Fintech Startup

Los Angeles billionaire and business mogul Shawn “Jay-Z” Carter, who ranked No. 45 on the Business Journal’s 2020 Wealthiest Angelenos list, participated in a $165 million raise for a company that helps people with blemished credit records buy a home.

Former CBS Execs Team for $300 Million Media SPAC

Special purpose acquisition company will focus on media, entertainment and sports.

Faraday Future Goes Public in $1 Billion Deal

Beleaguered electric vehicle company Faraday Future Inc. made its debut as a public company July 22.

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Laylo Raises $3 Million From Eldridge-Led Group

Laylo, a tool that helps musicians and influencers connect directly with fans on TikTok and YouTube, raised $3 million in a seed round led by L.A. sports team owner Todd Boehly.

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Barrack Pleads Not Guilty in Federal Lobbying Case

Thomas Barrack — one of L.A.’s biggest private equity investors — pleaded not guilty to federal lobbying charges.

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Struggling MedMen Seeks Restructuring, Turnaround

Culver City-based cannabis retailer MedMen Enterprises Inc. is pinning its hopes on a turnaround specialist who’s already making progress with a difficult restructuring.

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Platinum Equity Buys Aviation Parts Supplier Unical

Beverly Hills-based private equity firm Platinum Equity has agreed to buy aerospace supply services provider Unical Aviation Inc. and certain of its affiliates.

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Barrack Out on Bail, Abandons SPAC Plans

Thomas Barrack, the private equity investor who's facing federal lobbying charges, has withdrawn plans to raise $250 million for his special acquisition purpose company.

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5th Kind Nabs $5 Million Private Equity Investment

5th Kind Inc., the maker of a software management tool used to track film productions remotely, received $5 million from a private equity firm.

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Payday Lending Tumbles 39% During Pandemic

California’s payday lenders saw a huge drop in the number of loans and dollar volume during the pandemic.

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