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 [...]
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 …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 …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 …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 …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 …Lawmaker seeks to create financial institution for marijuana businesses
January 12, 2012 Comments OffColorado 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 …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 …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, [...]
Continue reading …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 [...]
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