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banking

The Smart Saver grocery store at NE 23rd Street and Martin Luther King Jr. Avenue in Oklahoma City.
Brent Fuchs / The Journal Record

About two years ago the City of Oklahoma City granted tax increment finance, or TIF status to the Northeast 23rd Street, Martin Luther King, and Kelley Avenue corridors as part of a project it's calling the Northeast Renaissance.

Miran Rijavec Stan Dalone / Flickr.com

Financial institutions are uniting against the U.S. Senate’s six-year transportation bill, including bankers in Oklahoma.

 

Banks are required to buy stocks from the Federal Reserve in order to become members. They receive a six percent interest rate on their investment. The transportation bill would reduce that rate to one-and-a-half percent. The change offsets about $16 billion of highway spending.

 

Oklahoma Bankers Association president and CEO Roger Beverage said that would hurt consumers.

 

University of Oklahoma Press

Overzealous railroad builders and near-constant debates over the merits of gold vs. silver led to the worst financial crisis the United States had ever seen toward the end of the 19th century.

By the time the dust had settled after the Panic of 1893, the U.S. comptroller of the currency's annual report indicated 573 national, state, private, and savings banks as well as loan, trust and mortgage companies failed during the year.

JPMorgan Chase has agreed to acknowledge that it violated federal securities laws and will pay $920 million in penalties assessed by regulators in the U.S. and U.K. to settle charges related to the huge trading losses racked up by its London traders last year, the Securities and Exchange Commission announced Thursday morning.

As we wrote earlier this week when word of the pending settlement first emerged, this all:

Some Bank of America branches with drive-through tellers from Georgia to Texas have already closed the lanes, according to spokeswoman Tara Burke.

She wouldn't divulge exactly how many are closing. She did say the decision is not a cost-cutting move but a response to the way people are banking.

About 13 million customers bank by mobile phone and 29 million participate in online services. Among them is 19-year-old Brittney Sprague who says, "Not too many folks will really miss the drive-through teller because everybody uses apps. It's all about the new technology."

Rebecca Cruise and Suzette Grillot discuss the banking crisis in the Mediterranean island nation of Cyprus, and the decision to re-try American student Amanda Knox in Italy.

University of Oklahoma Italian language and literature professor Jason Houston joins Grillot from Arezzo, Italy. He's been following the Catholic Church's transition of power in the Vatican, and speculates what the last voluntary papal resignation in 1294 could teach us about 2013.