banking

Economy
4:30 am
Thu March 21, 2013

Home Values Rising, But Homeowners Still A Long Way From Flush

(via Flickr/Images_Of_Money)

So, another week, and yet more news the U.S. housing market is slowly returning to normal.

Numbers released on Tuesday by the Commerce Department show that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That's up from 910,000 in January. And it's the second-fastest pace since June 2008, behind December's rate of 982,000.

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Urban Development
4:30 pm
Mon July 16, 2012

A Rust Belt dilemma: demolition or redevelopment

Taken in the 3rd Ward, north of the old Pruitt-Igoe housing project in St. Louis.
Adam Allington/St. Louis Public Radio

The City of St. Louis has some of the highest  home vacancy rates in the country, and last month the mayor of Detroit made news when he laid out ambitious plans to demolish as many as 10,000 vacant buildings by the end of his term.

With costs for maintenance and upkeep running in the tens of millions, many Rust Belt cities often find it expedient to simply demolish empty buildings in favor of vacant lots and the hope of future development.

But taking down problem properties creates a whole new set of issues which are often overlooked.

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Bank records dispute resolved
6:02 pm
Mon April 2, 2012

Schweich announces agreement with Mo. Bankers Assoc. over records access

Mo. Auditor Tom Schweich (R) announces an agreement with the Mo. Bankers Association during a press conference on April 2 at his State Capitol office.
(Marshall Griffin/St. Louis Public Radio)

State Auditor Tom Schweich (R) has announced an agreement with the Missouri Bankers Association over access to bank records.

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Mo. State Auditor
7:14 pm
Tue October 18, 2011

Mo. Auditor Schweich wants legislation assuring his access to bank records

Mo. Auditor Tom Schweich (R) addresses reporters in his State Capitol office regarding proposed legislation that would give his office complete access to bank exam records.
(Marshall Griffin/St. Louis Public Radio)

Missouri Auditor Tom Schweich (R) will push for legislation next year he says will enable his office to oversee the state’s Division of Finance without interference from state agencies or private entities.

The proposed bill is, in part, the result of an ongoing legal battle with the Missouri Banker’s Association.  Schweich says the MBA is seeking to block his office from examining how the Finance Division examined the records of a number of failed banks in Missouri.

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Abandoned Bank Accounts
5:28 am
Tue August 9, 2011

Ill. to begin seizing abandoned cash after 1 year

A new measure says Ill. can take control of abandoned funds after just one year, rather than five. The rightful owner will still be able to claim the money, but the state will collect interest on the funds.
(via Flickr/borman818 )

Forgotten bank accounts could be put to work for taxpayers much more quickly under a new Illinois law.

The measure says the state can take control of abandoned funds after just one year instead of five years. The rightful owners can claim the money if they ever show up, but Illinois will get to collect interest on the funds.

Gov. Quinn signed the law Monday.

Bank of America
10:47 am
Wed December 8, 2010

Bank of America bond settlement could pay to Missouri

A clock in Lawrenceville, Va. sports the Bank of America logo. Bank of America, the nation's largest bank is to pay $137 million nationally as part of several settlements.
(Flickr Creative Commons User taberandrew)

Bank of America is the largest bank in the United States, but they've also landed themselves in $137 million worth of trouble.

The bank's problems may be Missouri's gain.

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