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.

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

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

Bank of Southern California adds heft near Los Angeles with CalWest deal

BankThink

The $32 million merger will create a bank with nearly $1 billion in assets. Community banking M&A Growth strategies California

SoFi Signs Deal For LA Stadium Naming Rights

PYMNTS

SoFi has announced that it has signed a 20-year agreement with LA Stadium and Entertainment District at Hollywood Park to be the exclusive naming rights partner of the new SoFi Stadium, the future home of the Los Angeles Chargers and the Los Angeles Rams.

Passport, the technology business for city transit systems, raises $43 million

PYMNTS

Passport, company that’s managing much of the technical aspects of how people pay to use public transportation resources in cities like London, Miami and Los Angeles, has just raised $43 million.

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

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.

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.

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

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.

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.”

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.

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.

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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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.

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.

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.

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.

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.

Hanmi delays quarterly filing due to review of nonaccrual loan

BankThink

The Los Angeles company said it is also looking into internal controls tied to construction lending. Commercial lending Community banking Earnings

Sunbit focusing on short-term credit data to reach more borrowers

Bank Innovation

To do this, the Los Angeles-based company is determining financial […]. Sunbit, a point-of-sale lending company, is using recent credit file data to underwrite borrowers without FICO scores.

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.

Carvana Opens Car Vending Machine In LA, Marking 20th In US

PYMNTS

Carvana , the eCommerce platform for buying and selling used cars, opened its latest Car Vending Machine in the Westminster area of Los Angeles, the company announced today (Aug. The Los Angeles location marks the firm’s 20th Car Vending Machine in the U.S.

Visa to buy Verifi to improve risk and chargeback management

Payments Source

Visa has signed a definitive agreement to acquire the Los Angeles-based chargeback and dispute resolution platform provider Verifi. Risk management Chargebacks M&A Visa

City National bolsters its East Coast presence

BankThink

The Los Angeles bank is taking its wealth management and entertainment financing businesses to Miami and Long Island as part of its effort to expand nationally.

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

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 […].

City National buys intellectual rights firm with entertainment focus

BankThink

The Los Angeles unit of Royal Bank of Canada plans to use FilmTrack to handle more complex transactions for major networks, studios and distributors.

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, […].

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.

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.

Krebs: Card breach at Trump hotels

CU Insight

KrebsOnSecurity has identified a potential card breach affecting Trump hotels in Chicago, Honolulu, Las Vegas, Los Angeles, Miami and New York. Uncategorized Chicago Honolulu KrebsOnSecurity Las Vegas Los Angeles MIAMI NAFCU Today New York Trump hotels

InComm, LA Metro expand network for contactless transit card sales

Payments Source

InComm has partnered with the Los Angeles County Metropolitan Transportation Authority (Metro) to more than quadruple the number of retail locations at which customers can purchase and reload its contactless TAP transit fare cards.