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Banking & Finance

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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Hattiesburg banker elected as President of Mississippi Young Bankers

Wes Rouse of Magnolia State Bank in Hattiesburg has been elected to serve as President of Mississippi Young Bankers, a section of the Mississippi Bankers Association. Bob Glover of The Peoples Bank in Ripley was elected Vice-President, and Marc Petro of Community Bank in Ridgeland is Treasurer. MYB conducts programs around the state about personal finance. The section also promotes ...

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Trustmark’s Moore, Hall, Lewis, Padgett, Burcham see job changes

Trustmark recently made five staff changes at its corporate headquarters in Jackson. Mortgage Systems Administrator Lee Moore has been promoted to Vice President. Moore has 27 years of banking experience. He attended Hinds Community College. Moore is active in his community, where he serves as a member of the Rescue Revolution of Mississippi and Remos Rescue. Commercial Relationship Manager Associate Julie ...

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Lauren Black named president of Starkville Business Network

Lauren Black, MBA, a certified financial planner at Phillips Financial in Starkville, was recently named President of the Starkville Business Network. The Starkville Business Network was founded in the summer of 2015. Black is among the founding members, along with Cory Lucius (Shelter Insurance), Kass Green (Tom Smith Land & Homes), Christina Lucas (Tom Smith Land & Homes), Cole Brazil ...

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Barnes makes Barron’s list

Dustin M. Barnes, CFP, financial adviser at Barnes-Pettey Financial Advisors, LLC, and Raymond James Financial Services in Clarksdale, was recently named in Barron’s list of “Top 1,200 Advisors” in the country. The list is based on research, surveys and interviews, weighing factors such as advisor’ assets under management, revenue generated, quality of service and regulatory records. Barnes-Petty has offices in ...

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