Mortgage Blog
Growing local economy drives bank earnings far past national average
Sacramento’s growing economy is illustrated by its regional banks' earnings, which far outpaced the performance of the nation’s banks during the first quarter of 2018.
Ed Wedbush steps down from eponymous securities firm
Edward “Ed” Wedbush is relinquishing his post as president of Wedbush Securities, the Los Angeles financial services and investment banking firm he co-founded in 1955.
He will remain chairman of parent company Wedbush Inc.
Rich Jablonski and Gary Wedbush, Ed Wedbush’s son, will serve as co-presidents of the firm, responsible for all aspects of management and strategic direction, development and growth of all client services.
Jablonski was previously executive vice president, COO and head…
Family-owned Dunbar Armored’s sale to Brink’s stuns industry
Brink's CEO Doug Pretz wouldn't say whether the famous Dunbar red and white trucks are here to stay.
Charlotte’s Frontier Capital doubles in size in uptown expansion
Frontier Capital, which moved to 525 North Tryon in uptown in 2015, now leases an additional 13,648 square feet on the building's 18th floor, adding to the firm's original deal for 12,600 square feet on the 19th floor when the company first came to the building.
U.S. district judge approves $142M settlement in Wells Fargo fake accounts scandal
U.S. District Judge Vince Chhabria agreed Wednesday to give final approval on a $142 million class-action settlement in response to Wells Fargo & Co.'s fake accounts scandal. The years-long lawsuit, which began with a complaint originally filed May 13, 2015, played out in California's Northern District Court in San Francisco.
The settlement awards an average of $35 to customers who had created without their consent as bank employees sought to meet sales quotas. Wells Fargo says the unauthorized…
Tech that takes the cost of out of small biz lending
Mirador Financial streamlines the lending process to improve banks' ability to finance entrepreneurs
Former Goldman Sachs VP charged with insider trading
A former banker with Goldman Sachs Group Inc. has been charged with insider trading.
A seven-count criminal complaint revealed that Goldman Vice President Woojae “Steve” Jung has been charged with trading with an unnamed co-conspirator on material non-public information he accessed while working in New York and San Francisco.
“We are aware of the situation regarding Mr. Jung and are cooperating with legal authorities on the matter,” Goldman Sachs (NYSE: GS) said in a statement.
The complaint did…
New data shows Memphis’ optimism surging — and its economy strengthening
New data released this month indicates Memphians are becoming significantly more optimistic about the local economy and that they likely have good reason to be.
A May survey by the Federal Reserve Bank of St. Louis found that 62 percent of surveyed Memphis businesspeople expect the local economy to be “better” or “slightly better” in the coming year than it was in the past year — about 20 percent more than in November.
It was the first time since at least May 2014 that business leaders in the…
Where are investors injecting the most capital in Alabama?
Where are businesses, governments and individuals investing the most in Alabama?
A new study by personal finance website SmartAsset took stock of investments in business, real estate, government and the local economy as a whole over a three-year period. It found that Baldwin, Madison and Lee counties are receiving the heaviest investment throughout the state.
Four factors were used to weigh each county: business establishment growth, gross domestic product growth, new building permits and federal…
Armored truck company Brink’s makes $520M deal for rival Dunbar
Cash management company Brink’s, which has one headquarters in Coppell and is known for its armored trucks, is continuing its turnaround with a deal reached Thursday to acquire a rival out of Maryland for $520 million in cash.