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Financial Services

Zions reduces regulatory requirements

In an effort to streamline its corporate structure and regulatory requirements, Zions Bancorporation is merging its holding company with its bank, and has also been declared not a “systemically important financial institution” by the Financial Stability Oversight Council. “Zions engages ...

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Study: Small banks are spending more on compliance (access required)

A new study found that nearly all small banks are spending more on compliance due to legislation, forcing institutions to reconsider offering certain products such as mortgages and overdraft protection. The study by the Mercatus Center at George Mason University ...

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New credit scores are coming soon (access required)

FICO is releasing a new version of its credit score this summer. While the company behind the credit rating isn’t revealing details of the changes yet, the updated rating will likely become a part of Idaho lenders’ decision making when ...

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Sunwest Bank closing downtown branch (access required)

A new face in Idaho banking is leaving downtown Boise. Sunwest Bank notified its customers on March 10 that it will close its branch and offices at One Capital Center at 10th and Main streets. Bank CEO and President Chris ...

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Two Boise credit unions set to merge (access required)

Boise U.S. Employees Federal Credit Union members on March 5 overwhelmingly approved a plan to merge with Icon Credit Credit Union, also based in Boise. The proposed merger would go into effect June 1, with Boise U.S. adopting Icon’s name. ...

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Idaho regulators are keeping an eye on Bitcoin (access required)

Leading financial regulators from nine states recently formed a task force to look into Bitcoin and other emerging payment systems. While Idaho Department of Finance Director Gavin Gee isn’t on that task force, organized by the Conference of State Bank ...

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Federal reform would make firms pay taxes on unrealized income (access required)

Many Idaho law firms would have to switch their accounting methods and pay taxes on income before the money actually is collected, if a proposed federal tax reform makes its way through Congress. The proposal – not yet incorporated in ...

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Banks target retailers for credit fraud losses (access required)

Like bankers across the country, Dan Price saw Mountain West Bank take a direct hit after security breaches at Target and other retailers in recent months. Mountain West had to replace about 2,800 credit and debit cards after it was ...

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