Archive for the ‘BANKING & FINANCE – Market Sector’ Category

SPECIAL REPORT: Lawmakers await feds’ move to repair payday lending flaws

by Published: August 11,2014

Tags: All American Check Cashing, Business, Madison, Mississippi

The chairs of Mississippi’s legislative committees with jurisdiction over payday loans concede the state’s 2012 Check Cashing Act may need some repairs. But with the federal government set to take control of payday lending rules, doing the fixes now could be a waste of time, they say. “I’m waiting to see what they do,” said […] [...]

SPECIAL REPORT: Training emphasized way to double fees on loans for All American Check Cashing

by Published: August 11,2014

Tags: All American Check Cashing, banking, Business, Madison, Mississippi

Just how does a payday lender get double fees off a $200 payday loan to a borrower who is paid monthly? The answer is in an October 2012 training document prepared by Madison’s All American Check Cashing and is part of a practice that has the company in hot water with state regulators. Central to […] [...]

Hancock Bank hosting event to raise funds for lighthouse restoration

PASCAGOULA — Hancock Bank is hosting a “Come Light Up The Night” Round Island Lighthouse fundraiser Aug. 7 to complete interior and lighting work at the top of the historic structure. The event will take place under the historical oaks at Lighthouse Park, on the north side of the Pascagoula bridge. Preservationists and the city […] [...]

Guns OK inside Mississippi polling places, attorney general says

By Ted Carter The trend among gun fanatics of openly carrying assault weapons and other firearms into stores and restaurants could spread to polling places around Mississippi in November. The key here is that gun owners must wear the weapon so it is visible to everyone, says Attorney General Jim Hood, who this week replied […] [...]

Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau

All American Check Cashing’s refusal to answer complaints has led the Better Business Bureaus in Mississippi and Alabama to give grades of “F” to the Madison payday lender that the Mississippi Department of Banking & Finance says did loan rollovers that violated state law. The Department of Banking & Finance put All American Check Cashing […] [...]

Peoples reverses loss, posts $335K in net earnings during quarter

BILOXI — Peoples Financial Corporation (NASDAQ Capital Market: PFBX), parent of The Peoples Bank, reported net earnings of $335,000 for the second quarter of 2014 and $914,000 for the first half of the year, announced Chevis C. Swetman, chairman and CEO of the holding company and the bank. Second quarter profits reversed a loss of […] [...]

Two BancorpSouth mergers delayed by federal inquiries

TUPELO — BancorpSouth Inc. has extended its merger agreements with Ouachita Bancshares Corp. and Central Community Corporation. BancorpSouth, Ouachita Bancshares Corp. and Central Community Corporation have determined additional time will be required to obtain regulatory approvals and to satisfy closing conditions necessary to complete their respective mergers.  They have extended their respective merger agreements to […] [...]

Citizens Holding records steep increase in net income

PHILADELPHIA — Citizens Holding Company (NASDAQ: CIZN) has released results of operations for the three and six months ended June 30, 2014. Net income for the three months ended June 30, 2014, was $2.093 million, or $0.43 per share-basic and diluted, up from $1.604 million, or $0.33 per share-basic and diluted for the same quarter […] [...]

Mississippi jobless rate rises to worst in nation

by Published: July 18,2014

Tags: Business, Mississippi, NEWS, Politics

JACKSON, Mississippi — Mississippi registered the worst jobless rate in the nation in June, as unemployment rose in the state while improving elsewhere. The jobless rate rose to 7.9 percent in June as the number of jobless Mississippians rose back above 100,000. A separate survey shows employer payrolls dipped slightly. Both sets of figures — adjusted […] [...]

Justices rule against McDaniel as he seeks birthdates on poll books

JACKSON, Mississippi — The Mississippi Supreme Court ruled Thursday that circuit clerks must redact voters’ birthdates before poll books are open for public inspection. The ruling is a blow to state Sen. Chris McDaniel’s effort to examine election materials as he seeks evidence of improper voting to challenge his loss to six-term U.S. Sen. Thad Cochran […] [...]

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