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Bankers reviewing the impact of special assessment
The FDIC recently proposed a special assessment to make up for the losses caused by the failures of SVB and Signature Bank. The proposal would impose a special assessment on the excess of an independent bank’s estimated uninsured deposits more than $5 billion as of last 12/31/22. There is a 60-day comment period. “While the Idaho Bankers Association (IBA) is still reviewing the details of t[...]
Seiler joins Zions Bank’s mortgage lending team
[caption id="attachment_290626" align="alignleft" width="300"] Hillary Seiler[/caption] BOISE — Hillary Seiler has joined Zions Bank as a mortgage loan officer, responsible for business development and customer service for residential construction and mortgage lending in the bank’s Western Idaho Region. She is based at the bank’s Idaho headquarters at Eighth & Main in downtown Boise. [...]
Stocks slip as Wall Street braces for higher interest rates
Stocks are slipping Wednesday as Wall Street braces for interest rates to stay higher for longer with inflation remaining stubbornly sticky. The S&P 500 was 0.2% lower in its first trading after coming off a frigid February. The Dow Jones Industrial Average rose 61 points, or 0.2%, at 32,723, as of 12:51 p.m. Eastern time, while the Nasdaq composite was 0.2% lower. After a hot start to t[...]
Fed minutes: Almost all officials backed quarter-point hike
Nearly all Federal Reserve policymakers agreed earlier this month to slow the pace of their rate increases to a quarter-point, with only “a few” supporting a larger half-point hike. The minutes from the Fed’s Jan. 31-Feb.1 meeting said most of the officials supported the quarter-point increase because a slower pace “would better allow them to assess the economy’s progress” toward [...]
Average long-term US mortgage rate jumps to 6.5%
The average long-term U.S. mortgage rate jumped last week to its highest level since November, more grim news for a housing market that's been in decline for a year. Mortgage buyer Freddie Mac reported that the average on the benchmark 30-year rate rose to 6.5% from 6.32% last week. The average rate a year ago was 3.89%. The average long-term rate reached a two-decade high of 7.08% in the fa[...]
Key solutions to top challenges facing Idaho’s Black and African American entrepreneurs
There are more than three million small businesses owned by Black and African American entrepreneurs in the United States with annual sales totaling over $150 billion. However, in 2020, Black and African American business ownership rates dropped 41% between February and April 2020, the largest rate of any racial group. Historically, Black and African American entrepreneurs have faced systemic barr[...]
18% drop since 2020 in people with reported medical debt
The number of people with medical debt on their credit reports fell by 8.2 million — or 17.9% — between 2020 and 2022, according to a report Tuesday from the U.S. Consumer Financial Protection Bureau. White House officials said in a separate draft report that the two-year drop likely stems from their policies. Among the programs they say contributed to less debt was an expansion of the Obam[...]
Wall Street ends mixed after swerving on inflation report
Several sharp reversals for stocks left Wall Street mixed on Tuesday after a report showed inflation is continuing to slow, but perhaps not as quickly or as smoothly as hoped. The S&P 500 finished the day virtually where it started, edging down by less than 0.1%, after swerving between gains and losses. The Dow lost 156 points, or 0.5%, while the Nasdaq went on the widest run. It finished 0[...]
Wall Street rises ahead of hotly anticipated inflation data
Stocks are rising Monday as Wall Street waits for a report to show whether inflation is continuing to cool or perhaps setting the market up for worse pain. The S&P 500 was 1.1% higher ahead of Tuesday’s report on inflation at the consumer level across the country. It’s coming off its worst week in nearly two months. The Dow Jones Industrial Average was up 323 points, or 1%, at 34,193[...]
Don’t let your credit score get in the way of your entrepreneurial dreams
[caption id="attachment_287415" align="alignright" width="300"] Lindsay Hendrix[/caption] Personal credit isn’t the only thing that determines whether you’ll get approved for a small business loan, but don’t let it be the one thing that stops you from pursuing your dream. Prospective entrepreneurs and established business owners alike will benefit from understanding how their personal cred[...]
Biz ‘Bite:’ Sage Growth Capital invests in OnSite Waste Technologies
Read More IBR Headlines [feed url="https://idahobusinessreview.com/category/news/ibr-headlines/feed/" number="3"] Sage Growth Capital has invested in California-based OnSite Waste Technologies. The non-dilutive growth funding investment is intended to help the company increase inventory, according to the announcement. OnSite Waste Technologies offers a suite of services for better medical[...]
Good Co. enters mortgage lending sector
Read More IBR Headlines [feed url="https://idahobusinessreview.com/category/news/ibr-headlines/feed/" number="3"] Getting approved for home loan can often be a clunky and intimidating process. New Idaho mortgage broker firm Good Company Broker Club (Good Co.) is setting out to do something different and provide a better way for people to obtain home loans through the use of technology and p[...]
