This is a specific focus of a weekly MBJ edition.
Bankers should be prepared to raise more capital reserve money without looking for it in the places they are used to finding it. And in a first for the U.S. banking sector, bankers should prepare to pay interest on the “demand deposit” accounts held by businesses. Those are among the challenges the Dodd-Frank Wall Street [...] [...]
If proposed legislation being considered by Congress becomes law, the dream of home ownership will be a dream deferred for some and one increasingly illusive for others. Prospective homebuyers, lenders, Realtors and home builders are battling butterflies in their stomachs the size of 777 aircrafts over the proposed rules for “Qualified Residential Mortgages,” which would [...] [...]
Bankers in Mississippi and elsewhere in the country have penciled in July 21 as the day a new era in America banking regulation begins in earnest. July 21 marks a year to the day that President Obama signed what one Mississippi banking executive calls an “absolute dramatic rewriting of the rules” of banking. Few banking [...] [...]
With more than 22 years of experience in the wealth management industry, John Hill, isn’t easily alarmed over the financial markets’ present tumult. Their ongoing gyrations, though, have caused him to not only spend more time findings ways to help clients to hold on to their money, he is holding on to something else of [...] [...]
This was supposed to be the year of historic change in the state’s banking industry. All over the state, folks at healthy banks were rolling up their sleeves in advance of the predicted rollup of community banks who were weakened by to margin and competitive pressures, a lack of growth opportunities and regulatory burdens. BancorpSouth? [...] [...]
Mississippi households without checking accounts are double the national average, says a Mississippi Economic Policy Center report that urges the financial sector and communities to initiate more financial education among youngsters and adults and create more access to banking services. The report calls for several actions its authors think can transform more Mississippians into consumers [...] [...]
Squeezed by a federal law aimed at cracking down on mortgage fraud, dozens of Mississippi’s Habitat for Humanity chapters may soon be forbidden to transfer ownership of homes to low-income families. They face a July 21 deadline to comply with the federal Secure and Fair Enforcement Mortgage Licensing Act, or SAFE, enacted in 2008. Training [...] [...]
For a mid-summer prize fight you can’t get a better card than Wall Street vs. Walmart. At stake is the rate retailers, restaurants, hotels and other sellers of products and services pay banks and credit card companies to allow customers to swipe their debit cards at check out. Unless Congress decides otherwise, the fee drops [...] [...]
Thinking about selling that motor home you have parked out back? Better either do it before July 21 or prepare to devote the time and money to become certified as a mortgage loan originator. Unless the U.S. Department of Housing and Urban Development tells him otherwise, Mississippi Banking Commissioner John Allison is using a broad [...] [...]
Most signs point toward optimism for this year’s economic outlook. Two experienced financial planners, Dudley Barnes of Clarksdale and Danny Williams of Jackson, are giving positive advice to their clients. “People are much more upbeat than they were,” Barnes said, “but they are still skeptical of financial markets because of what happened in 2008 and [...] [...]
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