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

Consumer Financial Protection Bureau seeks loosening of nonstandard mortgage lending rules

The U.S. Consumer Financial Protection Bureau has moved to ease fears among community bankers that new mortgage rules make nonstandard home loans, including balloons, too legally risky. Already, worries about such risks have led executives in Mississippi’s smaller banks to cut back on mortgage lending. However, with proposed rules issued last week, the 3-year-old CFPB […] [...]

Lawmakers once again reject bill to repair payday lending glitch

Rep. Adrienne Wooten, a Hinds County Democrat, tried unsuccessfully again this year to fix a glitch in Mississippi’s payday lending law that was suppose to give borrowers 30 days to repay loans of more than $250. Instead of the 30 days, borrowers have been getting only two weeks to repay the loans before new fees […] [...]

Clear water on tap for city of Gautier

By Tammy Leytham The city of Gautier is in the middle of constructing the state’s only ion exchange filtration plant and is receiving accolades for not only the project, but the way it has been funded. Ion exchange is a new water filtration technology that has gained popularity in recent years in Florida, said Gautier […] [...]

Bill fails that would limit attorney general’s power to sue

by Published: February 5,2015

Tags: Business, government, law, Mississippi, NEWS, Politics

JACKSON — Mississippi House members are rejecting new restrictions against Attorney General Jim Hood’s ability to file lawsuits or hire outside lawyers. The House voted 66-49 Wednesday to reject a House Bill 1201, which would require the governor, lieutenant governor and secretary of state to approve the attorney general’s filing of any lawsuit in which […] [...]

House panel approves small bump in sales tax money to cities

by Published: February 3,2015

Tags: Business, economy, Mississippi, NEWS, Politics

JACKSON — Mississippi’s nearly 300 cities and towns could get a little more sales tax money under a proposal lawmakers are considering. House Bill 1110 was passed Tuesday by the House Ways and Means Committee and appears headed to the full House. Right now, cities get 18.5 percent of the 7-cent cent sales tax collected […] [...]

Mississippi to receive $33M from S&P settlement

by Published: February 3,2015

Tags: Business, Connecticut, Jim Hood, Mississippi, NEWS, S&P, Standard & Poor's

JACKSON — The state of Mississippi will receive $33 million from a national settlement with Standard & Poor’s over allegations that it knowingly inflated its ratings of risky mortgage investments that helped trigger the financial crisis in 2008. Attorney General Jim Hood says in a news release that Mississippi sued S&P in 2011, joining with […] [...]

Industry groups join Google’s attack against Hood’s inquiry

by Published: February 2,2015

Tags: Business, Google, Jim Hood, Mississippi, NEWS

JACKSON — Computer industry groups are joining Google’s effort to block an investigation by Mississippi Attorney General Jim Hood. Industry groups filed two friend-of-the-court briefs Friday saying that federal law should block Hood from even trying to investigate Google. They say a subpoena that Hood sent Google in October is mainly aimed at actions by […] [...]

PHIL HARDWICK: When will Mississippi change its culture?

  “Where are you going?” yelled the fisherman still in the boat. “We have to save these children?” “I’m going upstream, and find out who’s throwing these babies in the water,” he replied. Perhaps it is time to talk about something that we in Mississippi do not want to discuss publicly, but which we lament […] [...]

HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets

It is true that, as technology becomes more advanced, the world is getting smaller. Markets are becoming truly global. So you will be happy to know that both Mississippi and Louisiana each have organizations focused on promoting our products to the global marketplace. Each of these states has World Trade Center organizations, which are non-profits […] [...]

Mississippi takes an incentives licking, keeps on ticking

By Jack Weatherly If the Pew Charitable Trusts gave Mississippi the stick in 2012, it seems to be trying the carrot this time. Mississippi economic development officials thought the respected independent nonprofit organization was harsh in its assessment of how the state was tracking its incentives. “It sounded like like they were unfairly indicting the […] [...]

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