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Financial Services

SJC rules against banks on mortgage assignments

Tom Egan The Supreme Judicial Court has upheld a Land Court judge’s decision in U.S. Bank v. Ibanez invalidating foreclosure sales conducted by two plaintiff banks to which mortgages had been assigned. “We agree with the judge that the plaintiffs, ...

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Swiss bank objects to Tamarack offer

UPDATED: A Swiss bank-led lender group owed hundreds of millions by Tamarack Resort has raised objections to a proposal to sell the vacation development to an Idaho investment company. However, it may not impact prospective buyer Green Valley Holdings from ...

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Changes to Idaho pension plan could be debated

A central Idaho lawmaker says changes to the Public Employee Retirement System of Idaho could be debated in the approaching Legislative session. House Majority Caucus Chairman Ken Roberts of Donnelly, a Republican, says there has been a lot of discussion ...

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AEHI executives take leave until court rules

Two executives have taken a leave of absence from Alternate Energy Holdings Inc. while a court considers allegations of investor fraud against the company trying to build a $10 billion nuclear power plant. CEO Don Gillispie and Vice President Jennifer ...

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SEC suspends trades of Alternate Energy securities

The Securities and Exchange Commission has temporarily suspended trading of securities of Alternative Energy Holdings, Inc., an Idaho company that wants to build a nuclear reactor. The federal securities regulator took the steps in part due to questions it has ...

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Green ventures don’t get better bank terms

Being sustainable and “green” did not help North End Organic Nursery when owners sought start-up construction financing a year ago. “Everything we’ve gotten has been based on good old-fashioned credit,” said Lindsay Schramm, who owns the north Boise business with ...

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Wells to pay Citi $100M to settle Wachovia lawsuit

Wells Fargo & Co. has agreed to pay $100 million to Citigroup Inc. to settle a dispute related to its acquisition of Wachovia Corp. in October 2008, at the height of the financial crisis. Wachovia was teetering on the brink ...

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SBA loan volume holds up after September spike (access required)

After a September surge in U.S. Small Business Administration loan volume, officials in SBA’s Boise district did not know what to expect in October, spokesman Larry Demirelli said. “The spike in September was the direct result of the funding of ...

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Cascade Bancorp works out deal to raise $177M

Cascade Bancorp wrapped up a deal with a group of investors that will bring in $177 million, a move that should halt the company’s capital problems. The Bend, Ore., bank holding company, parent of Bank of the Cascades, finalized agreements ...

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