E. Scott Reckard
Los Angeles Times
Laguna Beach, CA, United States
Contact E.
Discover and connect with journalists and influencers around the world, save time on email research, monitor the news, and more.
| Recent: |
|
| Past: |
|
Past articles by E.:
At Silicon Valley Bank, risky tech start-ups are lucrative business
Few banks are as close to the industries they serve as Silicon Valley Bank is to the technology world. → Read More
James Rothenberg dies at 69; philanthropist, chairman of Capital Group Cos.
Investment manager and philanthropist James Rothenberg, chairman of mutual fund giant Capital Group Cos. in Los Angeles and of the board overseeing Harvard University 's $36-billion endowment fund, has died at 69. → Read More
L.A.'s Banamex to close, pay $140 million in money laundering probe
Banamex USA, a Century City unit of Citigroup Inc. that served customers doing business in Mexico and the U.S., has agreed to shut down and pay $140 million in penalties to settle state and federal money-laundering probes. → Read More
Banking regulators OK merger of OneWest with CIT Group
Federal regulators approved a New York lender’s controversial $3.4-billion takeover of Pasadena's OneWest Bank, a deal that would create a hybrid company with a national commercial lending business and about 70 retail branches in Southern California. → Read More
L.A. suit accusing Wells Fargo of predatory mortgage lending practices is dismissed
A federal judge dismissed a city of Los Angeles lawsuit accusing Wells Fargo & Co. of violating the federal Fair Housing Act by engaging in predatory mortgage lending practices targeting minority borrowers. → Read More
Credit cards: the good, the bad and the subprime lender with 12 fees
If you ever needed proof of the punishment accorded borrowers who fail to pay their debts, a new credit-card survey should fit the bill. → Read More
Chase settles many debt collection abuse cases
JPMorgan Chase & Co. will pay more than $200 million to settle allegations that it sold faulty credit card debts to third-party collectors, including accounts with legally flawed judgments and inaccurate and paid-off balances and debts owed by borrowers who had died. → Read More
Janus buys stake in Kapstream Capital, gaining help for Bill Gross
Bill Gross — the deposed "bond king," formerly of Pacific Investment Management Co. in Newport Beach — acknowledged recently that he was disappointed with his performance for his new employer, Janus Capital Group, where his investments have lost money. → Read More
Average rate for 30-year mortgage edges up to 4.02%, Freddie Mac says
Mortgage rates are looking stable amid an improving housing market, with Freddie Mac ’s latest survey showing that lenders were offering 30-year fixed-rate home loans this week at an average interest rate of 4.02%, up from 4% a week ago. → Read More
Group drops protest of City National takeover by Royal Bank of Canada
Royal Bank of Canada's planned takeover of City National Corp. in Los Angeles moved closer to reality Wednesday when an advocacy group for minority consumers, churches and businesses reversed course, supporting the deal. → Read More
Regulators: Wells Fargo, Chase, U.S. Bank still fail mortgage service tests
Four years after pledging to clean up wide-ranging foreclosure abuses, Wells Fargo & Co., JPMorgan Chase & Co. and four other banks still aren’t complying with customer-service standards imposed by a federal regulator. → Read More
Discover Financial closes mortgage unit, lays off hundreds in Irvine
Rewards card specialist Discover Financial Services , which got into the mortgage business via an acquisition in 2012, is shutting down its struggling home-lending business and laying off 460 employees, many of them in Irvine. → Read More
Wells Fargo says federal law bars L.A. from suing over customer abuses
Federal law precludes the city of Los Angeles from suing Wells Fargo & Co. on behalf of Californians stuck with unwanted accounts and bogus fees, the San Francisco bank argued in its effort to toss the consumer protection lawsuit the city brought against it. → Read More
Mortgage rates edge down: 30-year average at 3.84%, Freddie Mac says
Mortgage rates were little changed this week on mixed news for housing, with Freddie Mac saying the average rate for 30-year conventional loans was 3.84%, compared with 3.85% a week ago. → Read More
L.A. sues Wells Fargo, alleging 'unlawful and fraudulent conduct'
Rigid sales quotas at Wells Fargo Bank have driven employees to open unauthorized accounts for customers, sticking them with bogus fees and damaging their credit, according to a city of Los Angeles lawsuit that echoes a Times investigation. → Read More
CFPB sanctions Inland Empire home lender over allegedly deceptive ads
A Rancho Cucamonga mortgage lender has agreed to pay $250,000 to settle accusations by federal regulators that its advertising deceived consumers into believing that the company was affiliated with the U.S. government. → Read More
AmEx launches customer loyalty network; may offset loss of Costco deal
In an ambitious twist on customer loyalty programs, American Express Co. is teaming up with a coalition of well-known brands to allow consumers to earn points for shopping at one of the companies and then to use them at any of the others in the network. → Read More
Mortgage rates fall; 30-year fixed at 3.75%, Freddie Mac says
Mortgage interest rates fell for the first time in four weeks, with Freddie Mac 's survey showing lenders offering conventional 30-year fixed-rate loans at an average of 3.75%, down from 3.8% a week ago. → Read More
Costco picks Visa and Citigroup as new credit card partners
Visa International and Citigroup will elbow aside American Express next year as Costco Wholesale Corp. 's exclusive credit card supplier, the giant discount retailer said, leaving customers to worry over potential changes in the rewards they earn on their Costco AmEx cards. → Read More
Relief funds to aid seniors struggling with reverse mortgages
A federal relief effort that set aside nearly $2 billion in housing aid for troubled Californians is being expanded to help older homeowners avert foreclosures on their reverse mortgages. → Read More