by MBJ Staff Published: September 30,2011
Tags: banking commissioner, Commercial Real Estate, convention center hotel, Digital edition, Hyundai, JACKSON, Jeff Seabold, John Allison, Kewanee, Leland Speed, MBJ, megasite, Meridian, Mississippi Business Journal, MSU director of architecture school
In this week’s MBJ, Clay Chandler examines whether there is a megasite available for a new Hyundai plant. The MDA’s Leland Speed says there are no sites available. However, the East Mississippi Business Development Corp. executive director Wade Jones says the 1,400-acre Kewanee site is still available for Hyundai or anyone else that wants it. [...] [...]
With combat in Vietnam behind him, John Allison came home to Mississippi in search of a new challenge. He found it at the state Department of Banking and Consumer Finance – industry expansions, contractions, booms and busts and everything in between. Allison retires Friday and takes with him an institutional memory that accounts for the [...] [...]
Health concerns faced by John Allison and his wife have led Allison to announce he will leave his post as Mississippi Banking commissioner Sept. 30. MBJ-TV recently caught up with the state’s chief banking regulator for a look back at his forty year tenure. [...]
With the volumes of rule making required to fully implement the Dodd-Frank Wall Street Reform, observers widely viewed the measure as a regulatory turf war waiting to happen. The waiting is over. The historic reform law, which went into effect July 21, will be the subject of many more months of rule making by federal [...] [...]
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 [...] [...]
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 [...] [...]
Federal regulators have reached an initial settlement with the nation’s largest banks, but the deal will not stop a 50-state coalition of attorneys general from pursuing answers and possible penalties relating to a wave of flawed foreclosures that swept the country last fall, says Iowa Attorney General Tom Miller, leader of the AGs coalition. The [...] [...]
A proposed $20-billion settlement to an investigation of fraudulent mortgage foreclosure practices across the nation could help underwater borrowers in Mississippi hang on to their homes through write downs on principal balances. But the wider price could involve a block to the state bringing further legal action on related foreclosure wrongdoings. Mississippi Attorney General Jim [...] [...]
The American Bankers Association says legislation introduced in the Senate last Tuesday gives it hope that banks can avoid a pending cut in the fees they receive from merchants on debit card transactions. The so-called Durbin amendment, named after sponsor Sen. Dick Durbin of Illinois, mandates the Federal Reserve’s Board of Governors put a cap [...] [...]
The 28 days the legislation gives borrowers to repay the loan would severely hurt cash flow of small, rural lenders, the payday-loan industry says If Mississippians want payday lenders to go away, state Rep. George Flaggs is giving them a lot of what they want, the lenders say. The Vicksburg Democrat and chair of the [...] [...]
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