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Banking & Finance

—Mike McLean

Laying chips on the cards, in an effort to halt hackers

Parties still converting to new payment standards
September 24, 2015
Mike McLean
A quiet deadline is looming for businesses that accept credit and debit cards. After Oct. 1, most merchants that haven't switched to a new payment standard that encrypts certain identifying account information could be liable for losses if they accept
Read More

Software company, Idaho firm collaborate

Companies aim to simplify payments via credit card
August 27, 2015
LeAnn Bjerken
Genesis Software Systems, of Spokane Valley, says it has begun working with Eagle, Idaho-based ChargeItPro on payment processing aimed at providing users of merchant software an easier way to accept credit card payments. Genesis Software Systems uses a
Read More

Study data suggest money goes farther here

Spokane ranks favorably in cost-of-living analysis
August 27, 2015
Residents of the Spokane-Spokane Valley area can make their money last longer than residents of many other major metropolitan areas, according to data from a New York company's cost-of-living and inflation analysis. In an evaluation of more than 220 me
Read More

Met, Summit trusts OK'd for one last extension

Beneficiaries could reap close to $60 million in all
August 27, 2015
Kim Crompton
Investors hoping to recoup a larger portion of the money they had tied up in Metropolitan Mortgage & Securities Co. and Summit Securities Inc. before those affiliated companies here shut down 11 years ago have received some encouraging news. Based on the
Read More

Bank of America tabs Kurt Walsdorf for broader role

Longtime executive will still lead Spokane market
August 13, 2015
Chris Street
Bank of America Merrill Lynch has appointed Kurt Walsdorf to head up business banking in much of the western U.S. 
Read More
—Scott Stucker

Spokane Federal sees membership growth spurt

Credit union reports strong gains in consumer loans
August 13, 2015
LeAnn Bjerken
Spokane Federal Credit Union began in 1956 with just a few hundred dollars and only seven employees who also served as its first members. Today, it has approximately 11,500 members, and about $137 million in assets.
Read More
—Mike McLean

SBA touts 504 financing tool

Overlooked loan program promotes job growth, retention here
August 13, 2015
Mike McLean
A U.S. Small Business Administration financing program is helping businesses expand and better position themselves for the economic turnaround, and Ted Schinzel, the SBA's Spokane branch administrator, says more businesses here could benefit from SBA 50
Read More
—Kevin Blocker

Taking Inland Northwest Bank to the next step

New CEO expects bank to strengthen its position in the Inland Northwest
August 13, 2015
New Inland Northwest Bank president and CEO, Russell Lee, is excited by what he sees for the bank's future.
Read More
—Mike McLean

Home-loan closing changes set to go into effect this fall

New rules said to benefit consumers, slow process
July 16, 2015
Mike McLean
New mortgage rate and fee disclosure requirements set to go into effect this fall are meant to help borrowers understand the terms of their home loans before they sign their mortgage contracts, but the rules also likely will slow the process or lead to de
Read More

Inland Northwest stock composite dips sharply in second quarter

Red Lion Hotels performs strongest during period
July 16, 2015
Kim Crompton
Hart Capital Management Inc.'s Inland Northwest Composite, which tracks the aggregate market value of 11 publicly traded companies in the region, fell by $736.5 million, or 8.8 percent, in the second quarter, to $7.64 billion, the company says. That'
Read More
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