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Author Archives: Ted Carter

Long Waits Nothing Unusual

Greenville real estate broker Betsy Alexander last week broke down the days the last three houses she sold stayed on the market: 358, 258 and 199. By most measures, that’s a long time to wait for a closing. But in Greenville’s stagnant and saturated market moving houses at that clip can put you ahead of the pack. Alexander’s agency, Coldwell ...

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BancorpSouth in acquiring mode

CEO Patterson tells annual bank conference in Chicago, ‘We are an experienced and proven acquirer.’ BancorpSouth Bank is on the hunt for banks to buy and expects to be a regional leader in acquiring “fatigued” community banks over at least the next 12 to 18 months. BancorpSouth chairman and CEO Aubrey Patterson made note of the regional banking company’s ambitions ...

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Allison: Exemption doesn’t free banks from state regulation

An exemption for small banks won’t fully free Mississippi’s many small financial institutions from the regulatory grip of a soon-to-be-created federal consumer financial protection agency. So says Mississippi Banking Commissioner John Allison. He concedes the exemption is there for financial institutions with assets under $10 billion. But exemptions written by Congress can’t erase the state’s obligation to enforce compliance measures ...

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Overhaul does have supporters

Recently passed federal banking reform has the potential to lock low- and moderate-income Mississippians out of credit opportunities and other financial services.  Or maybe not. Mississippi’s banking commissioner, bankers and banking analysts see a curtailing of credit and other banking opportunities as an unintended consequence of the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act. The Mississippi State Conference ...

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New regs put bankers ‘in the crosshairs’

Regulatory concerns replacing instincts a real worry Oceanside hotel rooms are not the only empty spaces on Mississippi’s Gulf Coast. The offices in which Chevis Swetman’s loan officers do their business are not anywhere as filled as the long time head of People’s Bank would like to see them. He’s got money to lend to individual consumers and businesses, but ...

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Making it hard on the little guys

Remember when your big brothers acted up in the backseat on a long car trip and your aggravated dad reached back and gave innocent you the back of his hand? That’s the kind of pointless persecution a lot of U.S. bankers are feeling at the moment, says Peter E. Garuccio, a lawyer and vice president of public relations for the ...

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Rule writing ahead a key for clarity and reason in industry

President Obama signed an historic banking reform law July 21, but the overhaul of the rules governing the nation’s banking and financial services sector is far from finished. The full extent of the change that lies ahead for banks in Mississippi and elsewhere will hinge on the rule writing that bank regulators will begin in earnest over the next few ...

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