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UPDATE — David Watkins says JRA left him in dark about HUD’s Farish St. involvement

By Ted Carter Farish Street Group principal David Watkins says he feels blindsided by the U.S. Department of Housing and Urban Development’s suspension of Farish Group from further involvement with HUD-funded projects. Watkins’ Farish Street Group until last October had a lease deal to transform downtown Jackson’s Farish Street into an entertainment district. He said […] [...]

Payday lender expects clean bill from regulators

All American Check Cashing owner Michael Gray expects the Mississippi Department of Banking to renew his check cashing store license at the end of this month and close its investigation into illegal payday loan rollovers with no finding of wrongdoing. Gray, in his first public comments since state regulators raided more than a dozen of […] [...]

Payday lender, fired executive exchanging blame for lender’s regulatory woes

Lawyers for payday lender All American Check Cashing and a fired executive of the Madison company are trading accusations of criminal activity. All-American blames the former executive for the hot water it is in with state regulators; the out-of-work executive alleges the company fired him for not participating in illegal activities that included under-the-table payments […] [...]

Grain buyer’s bankruptcy could take steep toll on Delta farmers

» Defaults on contracts and non-payment on grain already delivered are main worries The chapter 12 bankruptcy of a principal of Arkansas’ Turner Grain Co. and accompanying grain contract defaults could cost farmers in the Mississippi Delta “paper” losses of up to $70 million, according to a Greenville lawyer for several grain producers. Separate from […] [...]

Multi-family, health care construction are backbone of mid-range lending

Ben Williams, real estate law specialist and Watkins & Eager managing member, has been hopping the past year helping Mississippi developers put together projects requiring mid-range loans of $5 million to $50 million. But next month? “I’m not prepared to tell you I’ll be busy,” said Williams, who is in his 28th year practicing real […] [...]

UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders

by Published: September 18,2014

Tags: Business, Farish Street Entertainment District, Mississippi, NEWS

The City of Jackson has agreed to repay the federal government $503,603 a year over the next three years to settle violations claimed by the Department of Housing and Urban Development regarding the stalled Farish Street Entertainment District project. Further, HUD has suspended the Jackson Redevelopment Authority and Farish Street Group headed by developer David […] [...]

Fed’s Beige Book notes moderate economic growth in Mississippi’s 2 districts

by Published: September 15,2014

Tags: banking, Business, finance, Metropolitan Bank, Mississippi, Ridgeland

Federal Reserve banks in Atlanta and St. Louis, both of which have Mississippi jurisdictions, report modest gains in economic activity since mid July. Reporting in the Federal Reserve’s Sept. 4 Beige Book, the Atlanta Fed said business optimism for 2014 exceeds actual gains to this point. “Regardless of the outlook, most firms continue to be […] [...]

Bigger looks better for Mississippi’s banks

by Published: September 15,2014

Tags: banking, Business, finance, Mississippi

Mississippi’s banks netted profits of $369 million in the second quarter, but the state’s small banks with less than $100 in assets continued a two-year decline in profits, the Federal Deposit Insurance Corp. reports. While banks above $100 million in assets earned nearly $100 million more over the same quarter last year, going from $266 […] [...]

Court tosses challenge to Miss. Silicon’s clean air permit

by Published: September 15,2014

Tags: Business, Mississippi, technology

An Alabama competitor to Mississippi Silicon, which is building a $200 million  plant in Burnsville, came in too late with its challenge to an air quality permit for the plant, the Tishomingo County Chancery Court has ruled. In an Aug. 29 summary judgment, Chancery Judge Michael Malski said Globe Metallurgical of Selma let too much […] [...]

A Q&A with the SBA

by Published: September 15,2014

Tags: banking, Business, Mississippi, Q&A, SBA

(Q) Media reports and some surveys in the last six months say it seems business lending is resurgent in most parts of the country.  Would you say that is true for Mississippi small business lending? (A) Yes, there has been a resurgence for small business lending as a whole. Lending in Mississippi thus far this […] [...]

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