Author: News Room

There’s a lot of work ahead for the management of Banc of California (NYSE:BANC). In addition to the normal integration work that would be required to bring PacWest into the fold after the 2023 merger, management is still restructuring the balance sheet to improve its funding situation, refining the loan book, monitoring a challenging office CRE market, and working to convince the Street on the merits of the PacWest deal. Expectations appear relatively restrained here, but it’s going to take a couple of quarters (at least) for the “real” BANC to emerge as the company completes the balance sheet restructuring…

Meta will now remove posts containing the term “Zionist” when used in conjunction with antisemitic tropes or dehumanizing rhetoric, the company said Tuesday, in an expansion of its current hate speech policies. The decision follows what the company described as a months-long inquiry into how the term has historically been used and how it is currently being used on social media, particularly as the war in Gaza continues. “We have determined that the existing policy guidance does not sufficiently address the ways people are using the term ‘Zionist’ online and offline,” Meta said in a blog post. “Going forward, we will remove…

A deputy U.S. Marshal tasked with protecting Supreme Court justices’ homes shot an alleged armed carjacker near the Washington residence of Associate Justice Sonia Sotomayor last week, authorities said Tuesday.The suspect, 18-year-old Kentrell Flowers of Southeast D.C., allegedly pulled a handgun on the marshal, who was in a parked car in the Northwest section of the city around 1:15 a.m. ET on Friday, the Metropolitan Police Department said in a press release.The marshal drew his own gun and “fired several shots at the suspect,” the MPD said. Another marshal in a separate vehicle also fired at Flowers, who suffered non-life-threatening…

Anyone out shopping for a home today knows there is still precious little for sale.The housing market is just beginning to come out of its leanest few years in history. Inventory of both new and existing homes is finally rising, but there is something suddenly strange in the numbers: The supply of newly built homes appears to be way too high.The numbers, however, are deceiving due to the unprecedented dynamics of today’s housing market, which can be traced back two decades to another unprecedented time in housing, the subprime mortgage boom.All of it is precisely why home prices, which usually…

Many Americans plan to rely on their credit cards to finance a significant portion of their holiday travel, even if they can’t afford it, a recent survey said.  Roughly 83% plan to pay for a portion of their trip using credit cards, a new Debt.com survey said. More than a quarter (30%) expect to finance at least $5,000 of their travel expenses, and 7% said they may charge $15,000 or more, according to the Debt.com survey.  More than half of respondents (56%) will use their credit cards to earn cashback and rewards. However, 19% said they had to rely on…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.124% as of July 2, which is 0.134 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.375%, which is 0.250 percentage points higher than yesterday.  With mortgage rates changing daily, it’s a good idea to…

Black and Latino workers, along with those of other or multiple races/ethnicities regularly have significantly less money in retirement savings than white workers do. This disparity results in a less secure retirement, even though they often work longer hours and careers. The retirement savings gap results, in large part, from many people of color having less access to retirement benefits at work. The overwhelming majority of people – more than 90% — will participate in a retirement plan at work if they are eligible, regardless of their racialized group. Yet, white workers are often more likely to work for employers…

President Joe Biden told top donors on a video call Monday that he is still the best candidate to defeat former President Donald Trump as the Biden campaign and the White House sought to move beyond a crisis threatening to consume the Democratic Party. “I’m telling you, I’m not going anywhere, folks,” Biden said, according to a recording of the call obtained by CNN from a participant not authorized to release it. “I am in this to the end, and I’m going to beat Trump, I promise you.” The president told participants that Democrats “can’t waste any more time being…

Joe Biden launched an aggressive effort to hold on to his party’s presidential nomination on Monday, issuing a defiant letter to wavering congressional Democrats and appearing on national television to insist: “I’m not going anywhere.”Biden’s moves, including an appearance on a strategy call for major contributors later in the day, came after his grip on the Democratic leadership in Washington continued to erode, with some senior members of his party calling for him to drop out at the weekend.The multipronged counteroffensive — hitting crucial constituencies on Capitol Hill, the left-leaning media and the donor classes — appeared part of a…

Introduction I previously covered CoStar (NASDAQ:CSGP) back in January, rating the company as a ‘Strong Buy,’ something I’ve rarely assigned to the companies I’ve written about. At the time, I praised the company for disrupting the commercial real estate industry. It has created several marketplaces, building network effects and scale. It also built a huge database of information and tools that are crucial for agents to find data on a property’s construction, prior sales, market comparables, current tenants and rents, the demographics of the neighborhood, and much more. To me, it was obvious that CoStar was poised to become a…