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Goodbye banking, hello new business

Goodbye banking, hello new business

Five years ago, Eric Tuskind left behind a career as a bank vice president and started a career in something entirely different. Massage therapy. Business at Elements Therapeutic Massage has been so good, he opened his second franchise studio in Colorado Springs. The grand opening takes place Friday, Sept. 27, at 9475 Briar Village Point.… Continue Reading Goodbye banking, hello new business

Springs getting first new bank in four years

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Springs getting first new bank in four years

  Colorado Springs is about to get a new bank, led by a few familiar faces. Tim Stack, formerly of Wells Fargo in Colorado Springs, and Steve Ingham, most recently with Kirkpatrick Bank, are leading the effort to break Denver-based Colorado Business Bank into the Springs market. Stack is the bank’s local president, and Ingham… Continue Reading Springs getting first new bank in four years

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Bank battle: Bankers keep market share, each other in sights

With 38 banks clawing for market share, banking competition in El Paso County is fierce, and bankers do whatever it takes to gain an edge. They steal competition. They restructure rates. They renovate branches, renew relationships and in some cases resist change to gain a reputation of consistency. And though their battle plans differ, their… Continue Reading Bank battle: Bankers keep market share, each other in sights

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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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The Justice Department says Capital One has agreed to pay $12 million to resolve allegations the bank violated special protections in federal law for members of the military. The government says Capital One wrongfully foreclosed on some homes and improperly repossessed some cars. In addition, the government says the bank obtained wrongful court judgments against… Continue Reading Capitol One to pay $12M in case on servicemen

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  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… Continue Reading U.S. bank earnings rose this winter to 5-year high

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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.… Continue Reading Wells Fargo approves $35 million in SBA loans in first two quarters

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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… Continue Reading MMJ dispensaries left with few options after bank bill dies

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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… Continue Reading Lawmaker seeks to create financial institution for marijuana businesses

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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… Continue Reading Look Back 2011: Banking troubles hold hope for Colorado

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