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Examiners swamped by growing number of bad banks

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A rising tide of struggling banks in Colorado has short-handed state regulators straining to stay ahead. The budget at the state’s Division of Banking is down just a smidgen from last year, but the number of bank exams the division must do this year has jumped sharply — 45 percent. Unhealthy banks are a risk… Continue Reading Examiners swamped by growing number of bad banks

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Banks to allow local groups to buy foreclosures

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Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors. The Obama administration says local officials could benefit from acquiring these properties and using the land for redevelopment projects. Congress has provided $7 billion in money to buy the homes. These… Continue Reading Banks to allow local groups to buy foreclosures

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Are banks hoarding cash and refusing to make loans? A lot of business owners think so. So does the Obama administration, which claims banks are slowing the economic recovery by not lending as much as they could. Talk to the bankers themselves, however, and they’ll say the borrowers they’re seeing don’t qualify, that loan demand… Continue Reading Healthiest of banks fall short of lending benchmarks

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Commercial loan defaults loom

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CNBC reported Wednesday that by the end of 2010, about half of all commercial real estate mortgages will be underwater. “They are [mostly] concentrated in the midsized banks,” said Elizabeth Warren, chair of the Congressional Oversight Panel. “We now have 2,988 banks, mostly midsized, that have these dangerous concentrations in commercial real estate lending.” As… Continue Reading Commercial loan defaults loom

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WASHINGTON (AP) — The Treasury Department has approved 10 of the nation’s largest banks to repay $68 billion in government bailout money. The department on Tuesday said the banks, which were not named, will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program created by Congress last October… Continue Reading 10 big banks get OK to repay $68B in bailout money

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Accounting board changes asset rules

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WASHINGTON (AP) – The board that sets U.S. accounting standards on Thursday gave companies more leeway when valuing assets and reporting losses, providing a potential boost to battered banks’ balance sheets.The independent Financial Accounting Standards Board voted to adopt new guidelines under the so-called mark-to-market accounting rules, which require companies to value assets at prices… Continue Reading Accounting board changes asset rules

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