Mortgage Blog

BNP Paribas, the Paris-based shareholder of First Hawaiian Bank, plans to offer 20 million shares of First Hawaiian’s common stock in an underwritten public offering.

BNP intends to grant the underwriters a 30-day option to purchase up to an additional 3 million shares of the Honolulu-based bank’s common stock.

If exercised in full, the completion of the common stock offering and the underwriter’s option would reduce BNP’s stake in First Hawaiian from 33.3 percent to 16.2 percent.…

JPMorgan Chase & Co. agreed to pay $19.5 million to members of a class action lawsuit who alleged discrimination.

Six current and former black employees at the New York-based bank (NYSE: JPM) say they were sent to less lucrative branches, denied opportunities, kept out of a program for richer clients, and were paid less than white colleagues.

“These racial disparities result from Chase’s systemic, intentional race discrimination and from policies and practices that have an unlawful disparate…

Fintech lender Upgrade plans to double its San Francisco headquarters workforce to 200 by the end of 2019, after raising $62 million in a third round of financing last month.

The company employs 300 people, including 100 in San Francisco. The company also has an operations office in Phoenix and technology offices in Chicago and Montreal.

“We’re hoping to grow the San Francisco office to about 120 this year and 200 by year-end 2019,” Upgrade co-founder and CEO Renaud Laplanche told the San…

U.S. companies rebounded from a lackluster showing in the first quarter of the year with a surge in profits that's expected to fuel even more economic growth in the months ahead. Among the 20 companies with the biggest year-over-year change, six come from the Bay Area with four of those headquartered in Silicon Valley.

The Commerce Department reported that after-tax profits among U.S. companies jumped 16.1 percent on a year-over-year during the quarter that ended June 30, qualifying as the largest…

U.S. companies rebounded from a lackluster showing in the first quarter of the year with a surge in profits that's expected to fuel even more economic growth in the months ahead.

The Commerce Department reported this week that after-tax profits among U.S. companies jumped 16.1 percent on a year-over-year during the quarter that ended June 30, qualifying as the largest such increase since 2012.

The boom was especially pronounced in the banking industry, which pocketed more after-tax profits than…

San Francisco-based Varo Money said Tuesday that it received preliminary approval from federal banking regulators to start Varo Bank, the nation’s first all-mobile national bank.

It’s a big step forward for both Varo and those that want banking to be more accessible and innovative. Getting approval to operate a national bank will allow Varo to do business in all 50 states vs. the state-by-state approval fintechs often undertake.

“This is an historic moment and marks the start of a new era…

U.S. companies rebounded from a lackluster showing in the first quarter of the year with a surge in profits that's expected to fuel even more economic growth in the months ahead.

The Commerce Department reported this week that after-tax profits among U.S. companies jumped 16.1 percent on a year-over-year during the quarter that ended June 30, qualifying as the largest such increase since 2012.

The boom was especially pronounced in the banking industry, which pocketed more after-tax profits than…

A subsidiary of Minneapolis-based U.S. Bancorp has acquired Ashburn financial services company Electronic Transaction Systems Corp., which specializes in processing credit card transactions.

Elavon, a global processor of credit card transactions, is looking to integrate payment processing into software created by ETS, providing businesses safer and easier access to Elavon’s services.

The deal's terms were not disclosed.

ETS, which has offices in Germany, Canada and Ireland, was founded in…

It’s all Greek to many consumers when it comes to cryptocurrency, but one Los Angeles-area startup aims to change that.

MyCrypto Inc., headquartered in the South Bay city of Redondo Beach, wants to build the first mass consumer-friendly gateway for cryptocurrency users.

Founded last year, the company has raised $4 million in a Series A led by Polychain Capital, a San Francisco-based investor in cryptocurrency protocols and companies.

MyCrypto offers an open-face interface that simplifies the…

Peer-to-peer lending platform Funding Circle, a British startup with its U.S. headquarters in San Francisco, said it plans to go public.

Funding Circle is looking to raise around £300 million, or $387.4 million, by selling shares on the London Stock Exchange, the company said in a statement on Monday.

Since its founding in 2010, the fintech company which operates a small-business lending platform has received more than $373 million in funding, reports CNBC.

By the end of last year, the company…