KOAA.com

Tagged News

• Asia stocks, euro rise as Spain banks get lifeline

  June 11, 2012 1:01 AM

  BANGKOK (AP) - Asian stocks and the euro are rising after sentiment got a boost from Spain's decision to seek a European financial lifeline for its ailing banks. Spain on Saturday asked finance ministers from the 17 countries that use the euro for money to rescue its banks, which have... more »

• MMJ burglaries escalate Play Video

  June 4, 2012 12:45 AM

  With more thieves targeting local medical marijuana shops, criminals are coming up with creative ways to gain accses to these highly secured facilities- sometimes even using vehicles to smash through building walls. Their bold moves are putting shop owners on edge. Intense security systems and heavy safes keep most... more »

• Banks closed in Neb, Utah

  November 4, 2011 9:04 PM

  WASHINGTON (AP) - Regulators have closed small banks in Nebraska and Utah, bringing to 87 the number of bank failures in the U.S. this year. The Federal Deposit Insurance Corp. on Friday seized Mid City Bank, based in Omaha, Neb., with $106.1 million in assets and $105.5 million in deposits,... more »

• SEC says some documents on big banks likely tossed

  September 14, 2011 8:52 PM

  WASHINGTON (AP) - The Securities and Exchange Commission has acknowledged that some documents from preliminary investigations of major banks and convicted swindler Bernard Madoff likely were destroyed under a former agency policy. The SEC's enforcement chief made the disclosure in a letter Wednesday to Sen. Charles Grassley, R-Iowa. Grassley... more »

• U.S. stocks sink - experts warn for another recession

  August 19, 2011 8:51 AM

  U.S. stock futures are sinking as economic jitters and uncertainty about Europe's finances fuel another day of selling around the world. European banking shares fell near two-and-a-half-year lows, dragged down by rumors about the companies' potential losses on bonds issued by heavily-indebted governments. Earlier, Asian shares took a beating,... more »

• Treasury inviting big banks to debt meeting

  July 28, 2011 8:03 PM

  WASHINGTON (AP) - Executives from the nation's largest banks will have an opportunity Friday to ask Treasury Department officials face to face about what will happen if Congress fails to raise its borrowing limit before next week's deadline. The Treasury invited the 20 largest banks to a meeting to discuss... more »

• Consumers cut credit card borrowing for 24th month

  October 7, 2010 3:15 PM

  Consumer borrowing fell again in August as consumers cut back on credit card use for the 24th consecutive month. The Federal Reserve says that borrowing by consumers declined by $3.3 billion in August. That marked the 18th drop in the past 19 months. Borrowing increased modestly for one-time... more »

• Hurricane warnings, watches spread up the East Coast

  September 2, 2010 1:34 PM

  As Hurricane Earl churned toward the Outer Banks of North Carolina with top sustained winds near 140 mph, forecasters issued a hurricane warning much further up the coast Thursday for parts of Massachusetts, including Nantucket. The center of Earl was about 300 miles south of Cape Hatteras, N.C., around... more »

• Home foreclosures jump 9 percent in July

  August 12, 2010 10:09 AM

  The number of homes lost to foreclosures surged again in July as lenders took back almost 93,000 properties, up nine percent from June. In a new NBC-Wall Street Journal poll, only 29 percent of respondents felt the economy has hit bottom; 64 percent say there is still a ways... more »

• Pot dispensary owner says CSPD seized profits

  July 22, 2010 1:03 PM

  The owner of a medical marijuana dispensary plans to sue Colorado Springs police, alleging they seized $13,000 in profits from his car. Doctor's Orders co-owner Robert Pooler has filed a notice of his intent to sue. He plans to seek $120,000 in damages. Pooler says police searched his car... more »

• New federal law forces 2,500 layoffs

  April 22, 2010 10:32 AM

  A new law that cuts banks out of the federal student loan business is costing 2,500 workers at Sallie Mae their jobs. The nation's largest student lender has told 1,200 staffers in service centers in Killeen, Texas, and Panama City, Fla., they will lose their jobs by year-end. The... more »

• Bernanke voices economic concerns as he's sworn in

  February 3, 2010 3:40 PM

  Federal Reserve Chairman Ben Bernanke expressed concerns Wednesday about the economic recovery during a ceremonial swearing-in for another four-year term. In brief remarks to staffers, Bernanke said that while the economy is growing, "far too many people remain unemployed, foreclosures continue at record rates and bank credit continues to... more »

• Watchdog: Bailouts created more risk in system

  January 31, 2010 11:48 AM

  An independent government watchdog is warning that the response to the financial meltdown has made it more likely the United States will face a deeper crisis in the future. Neil Barofsky, the special inspector general for the trouble asset relief program, or TARP, says the problems that led to the... more »

• Treasury Secretary embroiled in controversy

  January 7, 2010 1:53 PM

  The Federal Reserve Bank of New York pressed American International Group to withhold details of controversial deals that funneled billions in bailout money to Goldman Sachs and other banks. E-mails show lawyers representing the New York Fed asked AIG to remove the information from a draft financial disclosure. Treasury Secretary... more »

• Stormwater refund checks to be mailed

  January 7, 2010 1:22 PM

  The checks are in the mail. Almost. The City of Colorado Springs will send out stormwater refund checks the last week of January for customers who paid ahead to cover 2010 fees. About 20,000 customers are due refunds totaling about $700,000. You may want to verify that the El Paso... more »

• Did you hear the one about the bank?

  December 31, 2009 11:54 AM

  A quip that pokes fun at struggling banks has been named the top tall tale of 2009. The Burlington Liars Club has bestowed its highest award for this line: "I just realized how bad the economy really is. I recently bought a new toaster oven and as a complimentary gift,... more »

• Mexican remittances tumble 36 percent

  December 1, 2009 12:18 PM

  The money Mexican migrants sent home fell nearly 36 percent in October compared to the same month last year, Mexico's central bank said Tuesday. It's the largest drop since records began to be kept in 1996. The Bank of Mexico says Mexicans abroad sent home $1.69 billion in October... more »

• Fed wants to crack down on gift card abuses

  November 16, 2009 1:32 PM

  The Federal Reserve is proposing new rules to protect consumers from unexpected costs or restrictions on gift cards. The changes would give consumers at least five years to use gift cards before they expire. Also, service or inactivity fees would be permitted only under certain conditions. Fees could be charged... more »

• TARP head says pay cuts for executives are justified

  October 22, 2009 9:44 AM

  The head of a committee that oversees the federal bailout fund says executive compensation in the country's large corporations is excessive and must be brought under control. In confirming administration plans, Elizabeth Warren said Thursday the time had come to substantially cut back compensation for the top officers of several... more »

• Foreclosures rise 5 percent from summer to fall

  October 15, 2009 8:34 AM

  A flood of defaults among people who lost their jobs helped push the number of households caught up in the foreclosure crisis by more than 5 percent from summer to fall. The defaults overwhelmed a federal effort to assist struggling borrowers. The unemployment rate - now at a 26-year high... more »