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Banking & Finance

COMMERCIAL FINANCE 701 — The powerless power of attorney

The long-awaited closing date on the $21.5million commercial construction loan is finally here.  Construction projects involve numerous moving parts. By the time a loan closing occurs, the out-of-pocket developer on the project awaits a hefty advance. The borrower, a Mississippi limited liability company, has two members – one of whom serves as the managing member.  The managing member is present ...

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Trustmark promotes 7 at Jackson headquarters

Trustmark recently made several promotions at its corporate headquarters in Jackson: Will Shurtleff, Tax Credit Administrator, is now First Vice President. Shurtleff has 13 years of banking experience and is a graduate of the Mississippi School of Banking. He earned a Master of Business Administration and a Bachelor of Science in Business Administration from Mississippi College. He serves as a ...

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BNA Bank announces the following promotions

New Albany, Mississippi: On behalf of the BNA Bank board of directors, James R. Collins, President and CEO, announces the following promotions: Bob Spencer has been promoted to Executive Vice President, Chief Financial Officer. Bob will celebrate 30 years of service with BNA Bank in May 2017. Active in the community, he currently serves as President of the New Albany ...

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Eyeing retirement in Mississippi? Consider carefully

By BECKY GILLETTE A lot of factors need to be taken into consideration when deciding when to retire. One of the most important decisions for many Americans is when to start taking Social Security benefits. While the government and most financial advisers recommend people wait to take Social Security at least until they reach their full retirement age (which is ...

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Trump’s troubles lead US stock indexes lower in early trading

Banks and other financial companies led U.S. stocks sharply lower in midday trading Wednesday as bond yields tumbled. Investors fretted that the latest turmoil in Washington could hinder President Donald Trump’s pro-business agenda. Technology and industrial stocks were among the big decliners, while real estate companies were up the most. KEEPING SCORE: The Standard & Poor’s 500 index fell 26 ...

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Payday lender pins hopes on Chancery Court to avoid store closings, $1.58 million fine

Banking commissioner rules All American Check Cashing did thousands of illegal loan rollovers By TED CARTER A Hinds County chancery judge on May 12 gave Mississippi payday lender All American Check Cashing a brief reprieve from a state Department of Banking and Consumer Finance shutdown order for its 75 stores, a $1.58 million fine and a demand to pay refunds ...

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Hinds Chancery judge blocks order closing payday lender All American

UPDATED WEDNESDAY: Payday lender pins hopes on Chancery Court to avoid store closings, $1.58 million fine   A judge on Friday blocked an order by state regulators shutting down one of Mississippi’s largest payday lenders and fining the company more than $1.5 million. The Thursday order by state Banking Commissioner Charlotte Corley followed a monthslong proceeding examining whether All American Check ...

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Lengthy probe, legal tussles end with All American Check Cashing shutdown, $1.5 million penalty

UPDATED WEDNESDAY: Payday lender pins hopes on Chancery Court to avoid store closings, $1.58 million fine By TED CARTER Mississippi officials are forcing Madison-based payday lender All American Check Cashing to close its 70 Mississippi locations and pay a more than $1.5 million fine. The action ordered Thursday followed a multi-year investigation by the Mississippi Department of Banking and Consumer Finance, federal ...

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Mississippi, other states order mortgage firm to cease and desist

  By JACK WEATHERLY Mississippi and more than 20 other states have issued cease and desist orders against Ocwen Loan Servicing, LLC, the nation’s second-largest nonbank mortgage firm, which the federal Consumer Financial Protection Bureau contends in a separate legal filing is guilty of “years of widespread errors, shortcuts and runarounds” that have cost some borrowers money and others their ...

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