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There are many things Kirkpatrick Bank could do to grow business, things like change its  name or launch a cool marketing strategy. But if they don’t have the right people, it would flop, said Trent Stafford, Kirkpatrick senior vice president. That’s why the Edmond, Okla.-based bank, which has a branch in downtown Colorado Springs, has… Continue Reading Kirkpatrick Bank assembles team of heavy hitters, making a play to double in size

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It’s true that small business lending has declined since the 2008 financial meltdown, but the most revealing reasons behind the trend are complex. Multiple factors have kept small businesses in a holding pattern, afraid to make any sudden changes. It’s the sluggish economy, the looming presidential election and rancorous political climate and the more stringent… Continue Reading Banks, small businesses working through post-recession blues

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The U.S. Small Business Administration’s loan programs posted the second largest dollar volume ever in FY 2012, supporting $30.25 billion in loans to small businesses. That amount was surpassed only by FY 2011, which was heavily boosted by the loan incentives under the Small Business Jobs Act of 2010. In Colorado, the trend in SBA-backed… Continue Reading SBA loan dollars reach second largest amount in program history

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Two Colorado credit unions merge

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Trinity Credit Union of Trinidad and Power Credit Union of Pueblo have merged. The accounts of the new Power Credit Union members remain federally insured by the National Credit Union Share Insurance Fund up to $250,000 and the new Power Credit Union members should not experience interruption in services. The Colorado Division of Financial Services… Continue Reading Two Colorado credit unions merge

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Morgan Stanley renames wealth management business

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Morgan Stanley said Tuesday that its U.S. wealth management business, Morgan Stanley Smith Barney, has been renamed Morgan Stanley Wealth Management. The business manages $1.7 trillion in client assets through a network of 17,000 people in 740 locations. Earlier this month, the company reached a deal with Citigroup Inc. to increase its majority stake in… Continue Reading Morgan Stanley renames wealth management business

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US orders Discover to refund $200M to cardholders

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Discover Bank will pay millions in fees to settle accusations by U.S. regulators that it pressured credit card customers to buy costly add-on services like payment protection and credit monitoring. Discover, the sixth-biggest U.S. credit card issuer, will pay a $14 million fine and refund $200 million directly to more than 3.5 million customers, federal… Continue Reading US orders Discover to refund $200M to cardholders

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Springs Utilities to offer revenue bonds

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Colorado Springs Utilities will offer $153.3 million in series 2012C bonds to individuals and other investors Sept. 12, according to a press release. The majority of the bonds – about $110.6 million – will be used to refinance outstanding debt at lower interest rates, and the remaining $42.7 million will help finance utility system expansion… Continue Reading Springs Utilities to offer revenue bonds

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t’s not surprising that retired banker Bill Berenz likes to mountain bike. Continue Reading Berenz hits the road after successful banking career

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Bankers are often first to notice when an older adult is being bilked out of savings or retirement money by scammers and swindlers … Continue Reading Quandary: Bankers look for best way to end elder abuse

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SEC urges fuller disclosure for muni market

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  Federal regulators are urging Congress to require fuller disclosure and stricter standards for the $3.7 trillion municipal securities market to help protect investors.   The Securities and Exchange Commission issued a report Tuesday after reviewing the market for bonds and other securities used to finance schools, roads and hospitals around the country.   Despite… Continue Reading SEC urges fuller disclosure for muni market

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