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James Rufus Koren

James Rufus Koren covers banking and finance for the Los Angeles Times. He previously wrote for the Los Angeles Business Journal, where he covered banking, manufacturing and other industries, and for daily newspapers in Southern California and rural Michigan. He was raised in St. Louis and small-town Iowa, headed west to study at the University of Southern California and now lives in Long Beach.
Measure to create L.A. public bank fails in setback for Council President Herb Wesson and advocates

Los Angeles voters rejected a ballot measure that would have let city leaders create a "purely commercial" enterprise that could help fund municipal priorities. The measure's backers say they didn't have the time or money for a successful campaign.

Wells Fargo says it improperly foreclosed on more borrowers than originally estimated

Wells Fargo said this summer it had failed to offer mortgage modifications to more than 600 borrowers, some of whom lost their homes. Now, the bank says additional borrowers should have received modifications and more than 500 of those lost their homes to foreclosure.

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