Nordstrom Local Expands In Los Angeles

PYMNTS

Following a positive reception from customers , Nordstrom Local announced two more Los Angeles locations for its hyperlocal retail concept. Overall, Nordstrom’s largest market is Los Angeles: The city has four million customers and 16 full-line, brick-and-mortar stores. One store will be 1,200 square feet and located in Brentwood, while another will be a 2,200-square-foot store in the city’s downtown area.

Tech Center: Los Angeles On The Brink Of Becoming Tech Power Player

PYMNTS

However, Los Angeles has been coming into its own over the last decade or so. In this week’s Tech Center tracker, Shivani Siroya, CEO of Tala , spoke with PYMNTS on how the Los Angeles area is becoming a center for tech. Los Angeles County had an estimated population of 10 million in 2015. GDP of Los Angeles County (2015): $930.82 There’s a chance that Los Angeles is ready to take on Silicon Valley.

Los Angeles Venture Is Underrated

CB Insights

The following is a guest post by Samir Kaji (@samirkaji), Senior Managing Director at First Republic Bank (@firstrepublic). When ranking US startup hubs, it’s widely accepted that New York City stands out clearly as the largest venture ecosystem outside of … Continued. Guest Post Uncategorized

Whole Foods 365 Expands To Los Angeles

PYMNTS

Whole Foods has expanded its 365 concept to Los Angeles with a new opening in the Silver Lake neighborhood. The store focuses on serving millennial customers who value convenience, are mindful of price and tend to keep away from products containing artificial preservatives and colors. Much like an ordinary Whole Foods store, the newly opened 365 store offers grab-and-go food and grocery items, including produce, bakery, supplements and beverages, among other things.

Los Angeles voters reject public bank

BankThink

Banking industry groups said they were vindicated by the defeat of the ballot measure, but public banking advocates plan to keep pushing the idea. Consumer banking Underbanked Alternative banks

Wells Fargo Scandal Prompts Crackdown by Los Angeles

American Banker

The Los Angeles City Council passed a motion last week to restrict large banks vying for city contracts from using predatory sales goals in response to the furor over Wells Fargo's phony accounts scandal. breaking_news compliance cfpb law-regulation

Hanmi Financial in Los Angeles selects next leader

BankThink

Bonnie Lee will succeed C.G. Kum, who is retiring as CEO next month. Community banking C-suite Succession planning WIB scan California

Lawsuit Accuses Los Angeles FCU of Violating Federal Overdraft Regulations

Keith Leggett's Credit Union Watch

Reuters is reporting that Los Angeles Federal Credit Union has been hit with a proposed class action lawsuit accusing the credit union of violating federal regulations by not properly obtaining customers' consent before charging overdraft fees for its checking accounts.

MidFirst in Oklahoma City to Buy 1st Century in Los Angeles

American Banker

MidFirst Bank in Oklahoma City has agreed to buy 1st Century Bancshares in Los Angeles. breaking_news community-banking m-a ca ok dealmaking-strategy

PacWest to buy CU Bancorp in Los Angeles for $705 million

BankThink

The deal, which is expected to close in the fourth quarter, should significantly increase PacWest's operations in southern California. Growth strategies M&A Capital California

Elon Musk Plans Candy Venture

PYMNTS

Though Musk has an ambitious tunneling project called The Boring Company , which aims to alleviate Los Angeles traffic by creating a network of tunnels beneath the city, the company has also raised funds by selling a bizarre line of Boring Company-branded products, such as a flamethrower. Retail Cryptocandy Elon Musk Elon Musk Companies Los Angeles News The Boring Company What's HotElon Musk just might become the next Willy Wonka with his latest venture.

Alipay And Yelp Partner To Give Chinese Travelers Access To Reviews

PYMNTS

In a press release, Alipay said that with the beta launch, any of Alipay’s more than 520 million users visiting North American cities, such as New York City, Los Angeles, Las Vegas and San Francisco, can now easily discover, plan, make reservations, share experiences and pay for them via online payments at any local business using Yelp’s content.

CUNA, leagues to attend NCSL in Los Angeles next week

CU Insight

2 in Los Angeles. The post CUNA, leagues to attend NCSL in Los Angeles next week appeared first on CUInsight. CUNA and leagues will be on hand with nearly 6,000 attendees at the National Conference of State Legislatures (NCSL) Legislative Summit July 30-Aug. Attendees include state legislators, legislative staff, government officials, business representatives, and others interested in public policy.

Welcome To Alexa City

PYMNTS

Los Angeles was, perhaps unsurprisingly, the first U.S. Los Angeles. The City of Angels launched its Alexa skill during the 2016 holiday season and leveraged it to push out information about holiday events in the area. The Los Angeles Information Technology Agency, which developed the skill, soon taught Alexa to provide information about reading times at local libraries and information about City Council members and upcoming sessions.

Elon Musk Backs His Own Groundbreaking Tunnel Plan

PYMNTS

Tesla Founder Elon Musk has added another prong to his master plan to save the world, an ambitious tunneling project called The Boring Company that aims to alleviate Los Angeles traffic by creating a network of tunnels beneath the city. The Boring Company is working to reduce costs, tunnel sizes and project lengths for new ventures — first in Los Angeles, then in other markets. Dos Equis has the “Most Interesting Man in the World.”

Voice Activated Tracker: Alexa Goes Hollywood

PYMNTS

Now, Los Angeles has even begun to develop location-specific skills for Alexa, with tentative plans to bring Google’s Allo and Microsoft’s Cortana along for the ride. But like most things, Los Angeles is starting off small with its AI assistant integrations — testing the digital waters rather than diving in head-first. Launched last month, users could ask Alexa to find holiday events in the Los Angeles area by saying, “Alexa, ask L.A.

The Rise Of The Chinese Tourist – And The Power Of Using Payments To Greet Them

PYMNTS

When Los Angeles first began its efforts to market to international tourists in 2006, China wasn’t much of a consideration. Chinese tourism is a big deal for Los Angeles. tourism Los Angeles tourism Mobile Payments NewsWith all of the nations that sent tourists to L.A., China didn’t even make the top 10 a little over a decade ago.

The Uber Of Fitness Trainers: Handstand

PYMNTS

Currently offered in a session subscription payment method, Handstand is available in Los Angeles and Orange County; the plan is to roll it out to Boston, New York, San Francisco and Chicago. uber of x fitness handstand Los Angeles News startups Uber of XDid you know that physical trainers and fitness instructors only get paid a very small fraction of the cost you pay the gym per hour?

Millennials’ Perfect Combo: Taco Bell And Forever 21

PYMNTS

Submitted images will serve as inspiration only, however — though they may appear on screens alongside models at a preview runway event in the Los Angeles Fashion District on Oct. Retail Fashion Line Fashion News fast fashion Forever 21 Los Angeles Fashion District News partnerships Taco Bell What's HotWant to wear your love of tacos on your sleeve? And no, we don’t mean sauce stains.

Boston Vs. NYC Vs. LA Exits: New York Wins On Quantity, LA On Big Winners

CB Insights

Outside of Silicon Valley, New York has seen the most venture-backed companies exit since 2012, over Boston and Los Angeles. Geographies Los Angeles Massachusetts New YorkIn fact, nearly half, 44%, of all the exits in the three cities over the last five years were for … Continued.

Construction Set for $40-Million Music Center Plaza Renovation in Los Angeles

CU Insight

Construction is set to kick off next month on The Music Center plaza's extensive $40 million renovation in Downtown Los Angeles

LA Rising: Finacing, Deal Share, And Investor Trends In A Blossoming Tech Hub

CB Insights

The Los Angeles metro area is home to tech unicorns such as Snap, The Honest Company, Age of Learning, and Procore Technologies, among others. Funding & Dealflow Geographies Los Angeles Venture CapitalAs LA’s community of tech talent, entrepreneurs, and founders continues to grow, the area is seeing a … Continued.

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Uber Of X: Bark’N’Borrow

PYMNTS

So, we went from 600 profiles in Los Angeles to 12,000 over eight hours after our New York Times story. uber of x Borrow Dogs ecommerce Los Angeles Pet owners Pets sharing economy Uber of XDog lovers rejoice! If you ever wanted a dog but couldn’t care for it full-time, you’ve got an opportunity here. If you have a dog and are looking for a new “dog-sitter,” you’ve got an opportunity here. Meet Liam Berkeley, founder and CEO of Bark’N’Borrow.

Nipton, Calif., Goes To Pot, Literally

PYMNTS

Merchant Innovation American Green California Cannabis cannabis commerce Congress Innovation Jeff SEssions Las Vegas Legislation Los Angeles Marijuana narcotics Nevada News Nipton CA pot pot tourism Retail Retail Feature Tourism weedIn real estate and in retail, location is everything. Malls operated on that theory for years: Put a few anchor stores in to draw foot traffic and the smaller ancillary stores feast on the revenue rewards of being close by.

LA vs. NY vs. Boston: Deals And Dollars Showdown

CB Insights

Financing & Exits Geographies Los Angeles Massachusetts New York Venture CapitalWhile Silicon Valley remains the top area for VC-backed startup funding, activity has long since defused to New York and beyond, with LA and Boston seeing a large number of deals and dollars flowing to startups in the region. Below … Continued.

Cannabis Startups Expected To Boost Warehouse Rents In Boston, L.A.

PYMNTS

Industrial rents in already-expensive cities like Los Angeles and Boston are expected to get a boost because of weed startups, according to Bloomberg Markets. Real Estate boston legalization Los Angeles Marijuana News Recreational marijuana Rent Retail startups warehouse weed What's HotSpace in those cities will be snapped up as part of a wave of pot legalization that was set in motion when eight states voted to permit cannabis in some form.

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L.A warns banks: Don’t set sales goals if you want city's business

BankThink

Law and regulation Government finance Compensation City of Los Angeles, CA 544351 Wells FargoA measure passed by the city council, which still needs final approval, would require banks that want city contracts to disclose whether they set individual or branch-level sales requirements. It comes in response to the Wells Fargo fake account scandal.

CIT Purchase Of OneWest Generates Controversy at Los Angeles Hearing

Bankrate

I supported CIT Group’s proposed acquisition of OneWest Bank at a hearing in Los Angeles last week because I think it will be good for savers — or at least some savers.

Finance Players Bringing Their A-Game to Super Bowl (of Advertising)

Bank Innovation

While the Super Bowl is expected to showcase great football on Sunday, when the Los Angeles Rams and New England Patriots face off, it will also feature the year’s “championship” of TV […].

6.14.19 Your morning briefing

Payments Source

Today: Revolut expands to Australia; Los Angeles upgrades transit; FirstBank signs on for real-time payments; Facebook invests in Meesho. The information you need to start your day, from PaymentsSource and around the Web.

Gemalto, CBP to create trial biometric boarding

The Paypers

(The Paypers) Gemalto has announced a partnership with the US Customs and Border Protection agency to work on a biometric boarding system at Los Angeles International Airport

What 2019 Holds for Bank-Fintech Partnerships

Bank Innovation

Ben Savage, partner at the Los Angeles-based Clocktower Technology Ventures, told Bank Innovation that the flourishing fintech ecosystem holds both risks and opportunities for banks, […].

Rep. Waters Eyes More Oversight Of Wells Fargo, Deutsche Bank

PYMNTS

Maxine Waters, the Los Angeles congresswoman, is expected to set her sights on Wells Fargo and Deutsche Bank when she becomes head of the House Financial Services Committee in January.

Spring Labs raises $23M, plans to expand customer ID blockchain

BankThink

The Los Angeles company has established a network that is designed to help verify the identities of consumer and small-business borrowers. It says 20 lenders are participating and that it is trying to recruit more.

Float Raised $3M to Offer Credit Cards, ‘Without the Plastic’

Bank Innovation

Float – a Los Angeles-based startup, launched today – is set to change that. It’s not news that millennials hate credit cards. Which is one of the reasons a lot of them end up as “thin file,” with through-the-roof overdraft fees.

Automated Payments Systems in High Demand as International Payments Soar Due to Increasing Pace of Globalization

Let's Talk Payments

Nearly half (46%) of respondents expect to increase international payments in 2016, with 29% planning to upgrade to deploy automated systems LOS ANGELES – October 4, 2016 — AFEX, one.

Exclusive Interview With Talal Bayaa, Co-Founder of Bayzat

Let's Talk Payments

Talal Bayaa is a graduate of the University of California, Los Angeles. LTP recently had the pleasure of interviewing Talal Bayaa, the Co-founder of Bayzat. He is a CFA. Innovation Insights Insurance Payments Asia Europe insights US

MUFG ordered to improve anti-money-laundering compliance

BankThink

The OCC said that branches in New York, Los Angeles and Chicago will be required to take certain corrective actions, but it did not hit the Japanese-owned bank with any financial penalties. AML Compliance MUFG Union Bank OCC

BayCom to expand Southern Calif. operations with Uniti purchase

BankThink

Uniti Financial focuses on the Korean-American community through three offices around Los Angeles. Community banking M&A Capital Growth strategies California

OCC Deserves More Scrutiny in Wake of Wells Fraud

American Banker

Without investigations by the Los Angeles Times and city prosecutors, the Wells Fargo account scandal would never have come to light. Where were federal regulators? consumer-finance occ enforcement cfpb exams compliance law-regulation

BlackLine Gains Nearly 50% in Largest Tech IPO of 2016

Bank Innovation

Los Angeles-based BlackLine priced 8.6 BlackLine Inc. priced its IPO at the high end of the range on Friday, and surged nearly 50% in a delayed opening, squarely placing the accounting and software company in unicorn territory. Could this signal the beginning of something good for tech?

Media Focused Fintech FastPay Picks Up AnchorOps in a Bolt-On Deal

Bank Innovation

Los Angeles based FastPay, a fintech that specializes in providing financing to media companies, has acquired AnchorOps, an electronic payment solutions provider for media buyers.

Why PacWest's profit fell in 1Q

BankThink

The Los Angeles bank reported a 5% decline in net income despite strong loan growth as deposit costs rose and fee income fell. Earnings Deposits Commercial lending Commercial banking