U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years. The number of troubled banks fell for the fourth straight quarter. The Federal Deposit Insurance Corp. said Thursday the banking industry earned $35.3 billion in the January-March period. That’s up from $28.7 billion [...] [...]
by Monica Mendoza Published: May 18,2012
Tags: banking, Colorado Springs, SBA Loans, Wells Fargo
Wells Fargo provided more SBA loans dollars to small businesses in Colorado than any other provider, according to information from the banking giant. In the first two quarters of 2012, Wells Fargo made 117 loans totaling nearly $35.8 million. “It’s a position we’ve held for a number of years,” said Cristie Drumm, Wells Fargo spokeswoman. [...] [...]
by Monica Mendoza Published: February 15,2012
Colorado medical marijuana business owners are turning their attention to Congressional lawmakers for banking relief now that a Colorado proposal to create their industry’s own financial institution was killed on Valentine’s Day. Sen. Pat Steadman’s, D-Denver, proposal to create a financial cooperative for medical marijuana businesses was postponed indefinitely by the Senate’s Finance Committee. It [...] [...]
by Monica Mendoza Published: January 12,2012
Tags: banking, medical marijuana
Colorado medical marijuana business owners are hoping a proposal to create their industry’s own financial institution will gain support among Colorado lawmakers. The medical marijuana industry was hit hard last year as banks continued to shut them out of their accounts. Sen. Pat Steadman, D-Denver, said he plans to introduce a bill next week that [...] [...]
by Monica Mendoza Published: December 21,2011
Tags: banking, look back 2011
The national and state economic climate is still tough, and it’s difficult to believe Colorado banks might be past the worst and on the road to better days. But as the year comes to a close, there are a number of positive signs for the Colorado banking industry in 2012. Out of state banks believe [...] [...]
The price of oil surged to $101 per barrel Wednesday, as the U.S. and other countries tried to make it easier for banks to lend money and keep the global economy growing. The Federal Reserve said it will team up with the European Central Bank, the Bank of England and the central banks of Canada, [...] [...]
by Monica Mendoza Published: November 18,2011
Tags: banking, dispensary, medical marijuana
Colorado Springs medical marijuana business owners are desperately writing letters to every bank in the country asking if they will accept their business. About 150 dispensary owners across the state are searching for a bank that will take their accounts, said Tanya Garduno, president of the Colorado Springs Medical Cannabis Council and owner of Medical [...] [...]
by Rob Larimer Published: September 6,2011
Tags: American Bankers Association, banking, chase, Wells Fargo
Banks might have increased their fees, but consumers aren’t paying them. A majority of consumers have managed to avoid paying fees, according to the American Bankers Association. An ABA survey found that 71 percent of bank customers don’t pay any fees, and 82 percent of customers pay $3 or less per month in fees for [...] [...]
by Monica Mendoza Published: September 2,2011
Tags: banking, dispensary, medical marijuana
Colorado Springs marijuana dispensary owners might resort to stuffing their money in mattresses if no changes are made to federal regulations that bar banks from doing business with them. In recent weeks, dispensaries across the state received notice from Colorado Springs State Bank that they have until Sept. 30 to clear out their accounts. The [...] [...]
by Rob Larimer Published: June 20,2011
Tags: banking, credit union
The Credit Union of Colorado is expanding in Colorado Springs with a $1 million service center in the Marketplace at Austin Bluffs. The Denver-based credit union has been in Colorado Spring for years, operating a small service center at 3609 Austin Bluffs Parkway, but the service center lacked tellers and other traditional branch services. That [...] [...]
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