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Banking & Finance

Foreclosure actions dip, approach prerecession norms

Trend tied to job growth, health of housing market
January 14, 2016
Mike McLean
Foreclosure actions completed in Spokane County in 2015 dropped by 27 percent compared with the number of foreclosures in 2014, finally falling out of the historically high range, says Phil Kuharski, a longtime Spokane economic data analyst.
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Spokane-area banks, credit unions foresee dampening effect

-
December 17, 2015
Kim Crompton
Bank and credit union executives here say they anticipate healthy growth in loans and deposits in the coming year, although perhaps slightly softer gains than they've seen this year as historically low interest rates that have lingered for years since t
Read More

Federal budget quietly cuts Social Security provision

File-and-suspend strategy to be eliminated in phases
December 3, 2015
Mike McLean
The new federal budget contains a cut to Social Security benefits that could limit options for baby boomers close to retirement-and everybody who follows them. Hidden in the budget bill is a change to Social Security that eliminates file-and-suspend ru
Read More
—LeAnn Bjerken

Star Financial's widening range

Firm's revenue grew 200 percent from last year, owner says
December 3, 2015
LeAnn Bjerken
Melissa Williams, owner of Star Financial & Insurance Services Inc., says getting people to talk about money is a difficult and often emotional process. 'Finances are very personal and stir up all kinds of emotions,” says Williams. 'That's why
Read More

Former Northwestern Mutual adviser pleads guilty to wire fraud

John Charles Hanson said to have taken millions
November 5, 2015
A former Spokane-based financial adviser with Northwestern Mutual Investment Services pleaded guilty last month to operating a Ponzi scheme and stealing nearly $2.5 million from his clients. John Charles Hanson pleaded guilty to wire fraud before a U.S.
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Trio of SBA veterans form consulting company

Three women plan to teach system to lenders
November 5, 2015
LeAnn Bjerken
Coralie Myers and Pat Johnson, of Spokane, along with Lisa Lerner, of Phoenix, have formed a new national company here called SBA Simplified LLC, with the goal of advising lenders on how best to use new lending software.
Read More

Southern Idaho credit union extends its reach to Cd'A

ICCU takes over at former Public Employees branch
November 5, 2015
Mike McLean
Southeast Idaho-based Idaho Central Credit Union is operating its first North Idaho branch after having recently absorbed the assets and liabilities of Public Employees Credit Union of Coeur d'Alene.
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Federal Reserve action stirs policy error concerns

Timeline for raising rates has become more murky
November 5, 2015
Steve Scranton
Much anticipation and discussion swirled throughout the summer regarding when the Federal Reserve would begin the process to normalize interest rates, with economists and forecasters pretty evenly split between whether or not the Fed would start in Septem
Read More
—Kevin Blocker

Inspirus works to boost membership in Spokane

Credit union dedicated funds to local schools
November 5, 2015
Seattle-based Inspirus Credit Union has stepped up its efforts to add new members in the Spokane area as part of an ongoing effort to reach out beyond its traditionally teacher-based membership, located mostly on the West Side.
Read More

Economic statistics don't tell the market's entire story

Some indicators might have become antiquated
November 5, 2015
Michael Maehl
As I review the daily market news and read the economic comments from various sources, it occurs to me that the current measurements being used don't really show the true strength of our total economy.
Read More
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