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

Northridge Man Sentenced in Credit Card Scheme With ‘Collusive Merchants’

A Northridge man has received 21 years in federal prison for a scheme in which credit card and bank loan scheme that took money from banks, credit card comapnies, car dealerships and utility companies.

Glendale Man Pleads Guilty in $5.2 Million ‘Synthetic Identities’ Fraud

Glendale resident Mikayel Hmayakyan, 43, pleaded guilty Monday to two counts of federal bank fraud for leading a credit card scheme using fake identities.

Farmers Insurance Sponsors APGA Golfers

Farmer’s Insurance in Woodland Hills will sponsor golfers Willie Mack III and Kamaiu Johnson in the 2020 Advocates Professional Golf Association Tour.

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B. Riley Acquires Auto Advisory Firm

B. Riley Financial Inc. has acquired Alderney Advisors, an automotive restructuring firm in Southfield, Mich., near Detroit.

L.A. County's Record Unemployment Tops 20 Percent for Second Month

L.A. County’s unemployment rate hit a record 20.9 percent in May, up slightly from a revised 20.8 percent in April.

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Velocity Financial Completes $128 Million Securitization

Velocity Financial Inc. has completed its second securitization transaction of 2020.

RGEB Acquired by Heffernan Insurance

Heffernan Insurance Brokers has acquired Really Great Employee Benefits, a San Fernando Valley employee benefits and insurance compliance firm.

L.A. County's Record High Unemployment

Job losses in hospitality, retail sectors drive down average.

Preview: Turbulent Markets

Investment advisors talk about the meltdown of 2020.

Poms & Associates Rebrands with TV Ads

While most businesses have focused solely on surviving COVID-19, insurance brokerage Poms & Associates has launched a rebranding campaign.

Valley Economic Alliance Receives Wells Fargo Grant for Business Support

The Valley Economic Alliance has received a grant of $65,000 from Wells Fargo.

Earnings: NetSol Technologies, Velocity Financial

NetSol beat earnings estimates while Velocity missed in its first quarter as a public company.

District 12 Angel Fund Announces First Loan Recipient

L.A. City Council member John Lee announced Thursday that Chatsworth’s San Carlo Deli is the first loan recipient from the Council District 12 Small Business Angel Fund.

Greater San Fernando Chamber Joins Recovery Fund Coalition

The Greater San Fernando Valley Chamber of Commerce announced Monday it has joined America’s Recovery Fund Coalition, an alliance of more than 100 trade associations and business organizations advocating for a grant-based federal assistance program for businesses.

Newsom Outlines Broad Plan to Resume Work

Gov. Gavin Newsom on Tuesday outlined a cautious plan to reopen the virtually shuttered California economy in phases in the coming weeks as COVID-19 cases stabilize.