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Financial Services

US regulators close Syringa Bank

Regulators closed a small lender in Idaho on Jan. 31, marking the third U.S. bank failure of 2014 after 24 closures last year. The Federal Deposit Insurance Corp. said it has taken over Syringa Bank, based in Boise. The lender, ...

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Advisers wary of ACA exchange dumping (access required)

As businesses brace for the Patient Protection and Affordable Care Act employer requirement that takes effect in 2015, some are looking for ways to curb costs brought on by the sweeping changes. Starting next year, companies with 50 or more ...

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Retailers fight credit card swipe fee ruling (access required)

A recent settlement in a controversial antitrust lawsuit over credit card swipe fees means bad news for retailers nationwide, according to Mallory Duncan, senior vice president and general counsel of the National Retail Federation. The result of efforts begun in ...

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Eastern Idaho angel investors complete first cash infusion (access required)

A small angel-investing group in southeastern Idaho, the Idaho Expansion Group, has closed its first fund, giving less than $500,000 to three Idaho technology companies. Fund members say the first fund may be the only one organized by the group, ...

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Department of Finance saw more filings in 2013

The Idaho Department of Finance says the financial services industry expanded in 2013. An annual report from the department said there was a 2.6 percent increase in submissions for business filings, licenses and registrations. The total number of business filings ...

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Americans converting to Roth IRAs (access required)

Americans are increasingly moving income out of their traditional individual retirement accounts into Roth IRAs, seeing an advantage in tax savings. Fidelity Investments reports the number of people who converted traditional IRAs into Roth IRAs rose 7 percent during the ...

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JPMorgan’s Dimon: Target breach is a wake-up call

More Target-sized security breaches will happen if banks and retail stores don’t start working together to further protect customers’ data, JPMorgan Chase’s CEO Jamie Dimon said Jan. 14. JPMorgan has replaced 2 million credit and debit cards as a result ...

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How ‘mature’ are millennials about debt? (access required)

With age comes debt – that’s what the newest release from PNC Bank’s latest financial independence survey seems to say. The survey results showed that people aged 25 to 29 have about $35,600 on average in debt, but those aged ...

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Your life may not be worth what you think (access required)

Billions of dollars’ worth of life insurance policies may not be worth the paper they’re written on. Policies whose worth is tied to interest rates are losing value fast, as rates remain low over the long haul. And policyholders who’ve ...

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