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Tag Archives: John Allison

Banking commissioner's departure opens up replacement question

Mississippi Gov. Haley Barbour or his successor have the option of going into the financial services regulatory realm or into the banking sector itself to replace the retired John Allison as banking commissioner. Allison says the load of regulatory changes facing the financial sector has led state banking supervision offices across the nation to fill their top ranks with seasoned ...

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Read the October 3rd issue of the MBJ online

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. So, what is Leland Speed ...

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John Allison: A 40-year banking legacy

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 40 of the banking department’s ...

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Longtime Ms. Banking Commissioner John Allison stepping down

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. His departure marks the end of a four-decade career with the Mississippi Department of Banking and Consumer Finance. He took over the department as interim commissioner in 1996 and served through in that capacity through ...

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Bank reform sets stage for state, federal regulator spat

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 regulators. But already under challenge ...

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State regulating bank subsidiaries until ordered to stop, says top bank supervisor

Mississippi’s Department of Banking has returned to licensing wholly owned subsidiaries of federally chartered banks and thrifts and enforcing their compliance with state financial consumer protection laws. Banking Commissioner John Allison cites the Dodd-Frank Wall Street Reform and Consumer Protection Act as authority for restoration of enforcement powers the state ceded to the Office of the Comptroller of the Currency ...

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Fed rule threatens the smallest Habitat affiliates

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 and certification and the approximate ...

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RVs, houseboats, mobile homes — all may require mortgage license to sell

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 definition of “primary residence” as ...

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FIGHT GOES ON

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 settlement does not impose financial ...

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Foreclosure settlement could aid underwater Mississippians

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 Hood has been part of ...

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