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Oil jumps to $101 on int’l banking plan

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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 Oil jumps to $101 on int’l banking plan

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Banking could be marijuana’s death knell

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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… Continue Reading Banking could be marijuana’s death knell

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Customers dodging new banking fees

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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… Continue Reading Customers dodging new banking fees

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Pot shops forced to stash their cash

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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… Continue Reading Pot shops forced to stash their cash

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Credit Union of Colorado expanding

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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… Continue Reading Credit Union of Colorado expanding

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Colorado banking industry shrinking

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The number of FDIC-insured banking institutions in Colorado dropped from 145 in March 2010 to 112 in March this year, according to the Federal Deposit Insurance Corp. Assets decreased from $51.8 billion to $44.8 billion, and deposits decreased from $44.4 billion to $38.8 billion. The number of full-time banking employees in the state also fell… Continue Reading Colorado banking industry shrinking

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Banks biting back

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Proposed debit card regulations have pitted the nation’s financial institutions against retailers — but consumers could be the ones caught in the middle. At issue is more than $12 billion in annual debit card processing fees, money that merchants pay to banks to process debit card transactions. The regulations, part of the Dodd-Frank legislation that… Continue Reading Banks biting back

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AMI wants the Springs to know it’s in town

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When it comes to connecting potential investors with micro- and small-cap companies, Accredited Members Holding Corp. has been compared to a dating service. One of less than a handful of publicly traded companies in Colorado Springs, Accredited Members (OTCBB: ACCM) is far better known outside the region than in it. “They represent one of those… Continue Reading AMI wants the Springs to know it’s in town

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Two groups that used to work closely together — banks and commercial developers — aren’t holding hands at the party any more. Banks say they need more leverage to recoup losses when loans go into default. Developers maintain they are being pushed into bankruptcy because of the way banks handle existing loans and their refusal… Continue Reading Bill seeks to protect debtors’ personal assets from banks

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Customers sue Bank of Hawaii over overdraft fees

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Bank of Hawaii has been sued by customers alleging the bank used “unfair and deceptive” overdraft fee practices. Honolulu residents Lodley and Tehani Taulava are accusing the bank of systematically re-ordering debit card transactions from highest dollar amount to lowest dollar amount. A class action lawsuit filed on their behalf in state Circuit Court Tuesday… Continue Reading Customers sue Bank of Hawaii over overdraft fees

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