Home » Tag Archives: banking and finance (page 20)

Tag Archives: banking and finance

BancorpSouth shows 'affinity' for universities

TUPELO — BancorpSouth plans to establishment of branded checking accounts and debit cards at Mississippi State University and the University of Southern Mississippi. “BancorpSouth’s support of colleges and universities, including participation in a range of athletic sponsorship opportunities, is one of the wisest investments we make, providing a foundation for growth and viability in the communities and states where we ...

Read More »

Bernanke: Shut down banks that threaten system

WASHINGTON — Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system. “If the crisis has a single lesson, it is that the too-big-to-fail problem must be solved,” Bernanke said yesterday while testifying before the Financial Crisis Inquiry Commission. ...

Read More »

Farm Credit Bank issues $300M in stock

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT), a cooperatively owned wholesale funding bank, issued $300 million of perpetual non-cumulative preferred stock Aug. 26. The Austin-based bank reported $82 million of net income for the first six months of 2010, an 84.5 percent increase over the same period of 2009. FCBT loan volume totaled $10.6 billion at mid-year 2010. ...

Read More »

Bank CEOs to appear before 'meltdown' panel

WASHINGTON — An inquiry panel is hearing from former CEOs of two big banks that succumbed to the financial crisis, Lehman Brothers and Wachovia Corp., as it delves into the “too big too fail” predicament and potential systemwide risk from financial institutions. Federal bank regulators also are appearing today before the bipartisan Financial Crisis Inquiry Commission, established by Congress to ...

Read More »

Sentencing of ex-bank employees postponed

GULFPORT — Sentencing has been reset for Oct. 12 in U.S. District Court for two former employees of Hancock Bank’s Ocean Springs main branch in a multimillion-dollar embezzlement scheme to defraud the bank branch. Margaret Migues, former branch operations manager at the Hancock Bank main branch in Ocean Springs, and Doris Burney, a former teller there, initially were scheduled for ...

Read More »

U.S. auto loan delinquencies fall farther

SCHAUMBURG, Ill. — Automotive loan delinquencies dropped during Q2 2010, marking the second consecutive quarter that showed a year-over-year decrease in quarterly delinquencies. Lenders also made a higher percentage of loans to nonprime and subprime customers, a sign that lenders are beginning to loosen credit. The 30-day delinquency rate fell 5.88 percent, from 3.07 percent in Q2 2009 to 2.89 ...

Read More »

Credit card debt drops to eight-year low

NEW YORK — The amount consumers owed on their credit cards dropped to its lowest level in eight years, as cardholders continued to pay off balances in the uncertain economy. The average combined debt for bank-issued credit cards — those with a MasterCard or Visa logo — fell to $4,951 in the second quarter, down 13 percent from $5,719 last ...

Read More »

Checks mailed to victims of Stewart Finance

WASHINGTON — A claims administrator working for the Federal Trade Commission is mailing more than 16,000 checks to consumers who were victims of Stewart Finance Company. In Sept. 2003, the FTC charged Stewart, seven related companies and their principals with deceiving consumers, many of them elderly, by packing optional products such as accidental death and dismemberment insurance and membership in ...

Read More »

AIG to repay nearly $4B in federal bailout loans

NEW YORK — American International Group Inc. says it is repaying nearly $4 billion in federal bailout loans. The insurer said today it will pay back the taxpayer-funded loans with proceeds from a recently completed $4.4 billion debt sale at its aircraft leasing company, International Lease Finance Corp. The payment will trim AIG’s outstanding balance on its credit line with ...

Read More »