Content Tagged As banks

2 years 4 months ago

MMJ burglaries escalate

With more thieves targeting local medical marijuana shops, criminals are coming up with creative ways to gain accses to these highly secured facilities- sometimes even using vehicles to smash through building walls. Their bold moves are putting shop owners on edge. Intense security systems and heavy safes keep most...

2 years 11 months ago

Banks closed in Neb, Utah

WASHINGTON (AP) - Regulators have closed small banks in Nebraska and Utah, bringing to 87 the number of bank failures in the U.S. this year. The Federal Deposit Insurance Corp. on Friday seized Mid City Bank, based in Omaha, Neb., with $106.1 million in assets and $105.5 million in deposits,...

3 years 1 month ago

SEC says some documents on big banks likely tossed

WASHINGTON (AP) - The Securities and Exchange Commission has acknowledged that some documents from preliminary investigations of major banks and convicted swindler Bernard Madoff likely were destroyed under a former agency policy. The SEC's enforcement chief made the disclosure in a letter Wednesday to Sen. Charles Grassley, R-Iowa. Grassley...

3 years 2 months ago

U.S. stocks sink - experts warn for another recession

U.S. stock futures are sinking as economic jitters and uncertainty about Europe's finances fuel another day of selling around the world. European banking shares fell near two-and-a-half-year lows, dragged down by rumors about the companies' potential losses on bonds issued by heavily-indebted governments. Earlier, Asian shares took a beating,...

3 years 2 months ago

Treasury inviting big banks to debt meeting

WASHINGTON (AP) - Executives from the nation's largest banks will have an opportunity Friday to ask Treasury Department officials face to face about what will happen if Congress fails to raise its borrowing limit before next week's deadline. The Treasury invited the 20 largest banks to a meeting to discuss...

4 years 6 months ago

New federal law forces 2,500 layoffs

A new law that cuts banks out of the federal student loan business is costing 2,500 workers at Sallie Mae their jobs. The nation's largest student lender has told 1,200 staffers in service centers in Killeen, Texas, and Panama City, Fla., they will lose their jobs by year-end. The...

4 years 8 months ago

Bernanke voices economic concerns as he's sworn in

Federal Reserve Chairman Ben Bernanke expressed concerns Wednesday about the economic recovery during a ceremonial swearing-in for another four-year term. In brief remarks to staffers, Bernanke said that while the economy is growing, "far too many people remain unemployed, foreclosures continue at record rates and bank credit continues to...

4 years 9 months ago

Treasury Secretary embroiled in controversy

The Federal Reserve Bank of New York pressed American International Group to withhold details of controversial deals that funneled billions in bailout money to Goldman Sachs and other banks. E-mails show lawyers representing the New York Fed asked AIG to remove the information from a draft financial disclosure. Treasury Secretary...

4 years 9 months ago

Stormwater refund checks to be mailed

The checks are in the mail. Almost. The City of Colorado Springs will send out stormwater refund checks the last week of January for customers who paid ahead to cover 2010 fees. About 20,000 customers are due refunds totaling about $700,000. You may want to verify that the El Paso...

4 years 9 months ago

Did you hear the one about the bank?

A quip that pokes fun at struggling banks has been named the top tall tale of 2009. The Burlington Liars Club has bestowed its highest award for this line: "I just realized how bad the economy really is. I recently bought a new toaster oven and as a complimentary gift,...

4 years 10 months ago

Mexican remittances tumble 36 percent

The money Mexican migrants sent home fell nearly 36 percent in October compared to the same month last year, Mexico's central bank said Tuesday. It's the largest drop since records began to be kept in 1996. The Bank of Mexico says Mexicans abroad sent home $1.69 billion in October...

4 years 11 months ago

Fed wants to crack down on gift card abuses

The Federal Reserve is proposing new rules to protect consumers from unexpected costs or restrictions on gift cards. The changes would give consumers at least five years to use gift cards before they expire. Also, service or inactivity fees would be permitted only under certain conditions. Fees could be charged...

5 years 11 hours ago

TARP head says pay cuts for executives are justified

The head of a committee that oversees the federal bailout fund says executive compensation in the country's large corporations is excessive and must be brought under control. In confirming administration plans, Elizabeth Warren said Thursday the time had come to substantially cut back compensation for the top officers of several...

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