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Banking & Finance

Keeping your own financial business records might be easier with help from a professional

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By BECKY GILLETTE Most CPAs would prefer their clients use the CPA’s accounting firm to keep financial records. But many individuals and small business owner choose to do their own bookkeeping with a software program that automates accounting functions, and then turn that over to the CPA for purposes such as filing income taxes. Anita Goodrum, CPA, a member, Watkins, Ward ...

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Fitch: Kemper dealt another blow; downgrade pressure looms for Mississippi Power

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NEW YORK — Fitch Ratings sees mounting pressure on Mississippi Power Company’s Issuer Default Rating (IDR) following South Mississippi Electric Power Association (SMEPA)’s decision to terminate the Asset Purchase Agreement (APA) for a 15 percent ownership stake in the Kemper project. Fitch currently rates Mississippi Power’s IDR ‘A-‘ with a Negative Outlook. Fitch believes that finding another partner to replace SMEPA could ...

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ALAN TURNER: Taylor Sledge a rising entrepreneur

Taylor Sledge

Taylor Sledge is one of the group of young, aggressive entrepreneurs who are passionately working to build businesses and create jobs in Mississippi. As Chairman and owner of Sledge & Company, Taylor has built a successful business in the financial services sector.  He started the business eight years ago, when he was just 22, and today, the business has clients ...

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PayPal latest company targeted for CFPB penalties

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By TED CARTER Paypal Inc. is facing a $10 million fine and restitutions of $15 million for signing up users for a Paypal credit card without their knowledge, the U.S. Consumer Financial Protection Bureau says. The global Internet payments and money transfer company is the latest entity in the last couple of weeks to draw the wrath of the CFPB, a ...

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Community Bank adds Bethany and Liles

Bill Bethany has joined Community Bank as an assistant vice president at the Jackson office on Old Canton Road. Bethany has over 10 years’ banking experience and most recently was employed as a branch manager at a regional bank. In his new role with Community Bank, Bethany will assist customers with personal and commercial finance needs. Bethany, an Atlanta native, ...

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Mississippi Young Bankers selects new officers

The Mississippi Young Bankers section of the Mississippi Bankers Association elected new officers and councilmen in March during the MYB Annual Study Conference and Convention in Point Clear, Ala. Officers include: President: Parker England, Planters Bank & Trust Company, Greenville; Vice President:  Kent Mortimer, Bank of Kilmichael, Kilmichael; Treasurer: Wes Rouse, Magnolia State Bank, Hattiesburg New councilmen include: Justin Bobo, ...

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COMMERCIAL FINANCE 701: Basel III, HVCRE & real estate loans

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  Sitting atop the Alps, Switzerland managed to eschew both World Wars, flout the fluctuating Euro, and fleece wide-eyed tourists with opened arms.  Of late, however, the multilingual country has exported more than chocolate: from Lausanne, the controversial Iranian nuclear treaty negotiations, and, more on point for us, from Basel, Switzerland, a series of confounding financial regulations innocuously referred to ...

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UPDATED: Verizon, Sprint pay big in ‘cramming’ settlements

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Inserting unauthorized third party charges into customer bills has cost wireless carriers Verizon and Sprint a combined $120 million in reimbursements to customers and federal and state fines of $38 million. Mississippi received $358,269 for its participation in the Sprint and Verizon settlements. The national mobile cramming settlements with Verizon and Sprint and last fall with AT&T and T-Mobile have ...

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HOPE Federal Credit Union opening for business in Greenville

HOPE Federal Credit Union, an arm of non-profit Hope Enterprise Corp., will cut the ribbon at 10:30 a.m. Tuesday on its full service location in Greenville. HOPE Federal has had a limited operation in Greenville for 20 years. The location at 546 Martin Luther King Jr. Blvd. will expand those offerings, giving members access to checking accounts, loans and mortgages ...

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IKE TROTTER: Weighing in on reverse mortgages

More and more we see on TV or read in the paper about Reverse Mortgages and the opportunities available for homeowners to “unlock” the equity in their home. I thought it might be helpful to discuss this unique type of home equity loan and the resulting implications they offer to homeowners, particularly those who are retired and elderly. Created in ...

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