(Editor’s note: This is the second in a two-part series exploring banks and cryptocurrency.) Cryptocurrencies promise to disrupt and transform the financial system — a promise that grows as central banks around the world experiment with the idea of issuing their own cryptocurrencies. The Bank of England, the Bank of Canada,...
When President Donald Trump unveiled the broad framework for his proposed changes to the federal tax code, it raised more questions than it answered. Of course, it was simply the first step in what could be a lengthy congressional debate about the tax code. And Trump’s nine-page proposal — including...
Banks and credit unions have operated side by side for more than 80 years but — like neighbors who share a fence yet have different views and agendas — they don’t always get along.
Avoiding debt, whether it’s in business or at home, always seems like the right idea. But in the business world, taking on debt might be smart in the current economic climate. “If you’ve got the stomach for the risk, debt right now is very attractive from an interest rate standpoint,”...
Rob Alexander isn’t worried about his legacy, but the Colorado Springs banker has likely enhanced the reputation he’ll eventually leave behind. The 54-year-old chairman and CEO of Stockmens Bank is merging his company with the larger but less successful First Home Bank of Mountain Grove, Mo. “The problem with little banks...
BKD, a national CPA and advisory firm with a presence in Colorado Springs, joined forces last week with the National Association of Manufacturers for a webinar to review new and proposed business tax regulations, as well as to compare reform proposals in the House of Representatives with those of...
When news of a financial scandal at Wells Fargo was made public last month, the implications seemed negative, but not dire. But ongoing investigations and lawsuits against the company are beginning to paint a picture of the San Francisco-based bank as a company that fostered a culture of unethical —...
Bank of the San Juans will continue to grow its presence in Colorado Springs following its October purchase of Cañon National Bank, said President and CEO Art Chase. “We’d like to expand in Colorado Springs, whether through an acquisition or opening new branches,” he said. Based in Durango, Bank of the...
Lonnie Parsons, regional president of ANB Bank in Colorado Springs, got into banking to make people’s dreams come true — to help clients buy their first homes, start and operate businesses, send their kids to college. “That’s the fun part of banking,” Parsons said. “I’ve really enjoyed banking.” After spending 38...
Woodland Park resident Richard Roop began serving a 60-day jail sentence Tuesday for contempt of court following a hearing in Denver District Court, according to a news release sent by the Colorado Department of Regulatory Agencies (DORA). The sentence, handed down by District Court Judge Michael Martinez, followed a motion...
U.S. Small Business Administration (SBA) lending, both nationally and in Colorado, reached all-time record levels during fiscal year 2015, the year ending Sept. 30. In El Paso County, the SBA gave 141 loans that totaled more than $39 million. Most of those came from the U.S. Bank National Association, which made...
While a general manager for an ACE Hardware store, Steve Frederick worked with a receiving manager who took more than $200,000 worth of merchandise while working at the store. “When we caught him, he had his garage set up like a hardware store,” Frederick said. “He was selling stuff on...