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Survey: Lenders Expect Increase
Posted on February 24th, 2009 No commentsSlightly more than half of commercial real estate lenders expect loan production to go up this year, according to a survey by real estate services company Jones Lang LaSalle Inc. Respondents included life insurance companies, dealers of commercial mortgage-backed securities, private lenders, commercial banks and government agencies, according to the Business Journal of Milwaukee.
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Company Fined Over Brokerage Fees
Posted on February 24th, 2009 No commentsThe Financial Industry Regulatory Authority has fined Milwaukee-based Robert W. Baird & Co. $500,000 for supervisory violations relating to its fee-based brokerage business. FINRA also ordered Baird to return $434,510 in fees, plus interest, to 154 customers, according to the Small Business Times.
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Web Site Focuses on Stimulus Plan
Posted on February 24th, 2009 No commentsU.S. Sen. Russ Feingold (D-Wis.) recently unveiled a web site dedicated to informing Wisconsin communities, residents and businesses about the details of the American Recovery and Reinvestment Act. The web site, http://feingold.senate.gov/recovery, includes information on how Wisconsin will benefit from the bill, the Small Business Times reported.
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Group Calls for TARP Transparency
Posted on February 24th, 2009 No commentsWarning that “gaps in transparency and accountability” contributed to the current economic crisis, the Center for Political Accountability has called on 19 financial companies – including Milwaukee-based Marshall & Ilsley Corp. – that received more than $1 billion under the U.S. Treasury Department’s Troubled Asset Relief Program (TARP) to disclose and require board oversight of their political spending with corporate funds. Read the Small Business Times article.
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Park Bank OK’d for TARP Funds
Posted on February 24th, 2009 No commentsPark Bank of Madison has been approved for the sale of about $20 million in preferred stock to the U.S. Treasury Department through the Capital Purchase Program. The bank will use the money to support three local development projects, according to the Wisconsin State Journal.