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Banking & finance

Wells Fargo addresses fraudulent accounts

Wells Fargo said it’s reimbursed nearly 3,200 accounts in Nevada suspected of being fraudulently set up, but consumer advocates and lawyers continue to criticize the banking giant from blocking customers’ attempts to file a class-action lawsuit.

Nevada credit unions, community banks battle over lending rules

Nevada credit unions continue to post increases in business loans, hitting $6.4 billion in outstanding loans as of June 30, a figure not seen since 2010, according to the Nevada Credit Union League. The outcome of a lawsuit against the National Credit Union Administration (NCUA) could see that figure rise even higher.

Lenders cautious on new construction loans

Technology has impacted the number of bank branches. Customers can access accounts and services online, and a growing number are using their mobile phones for that purpose. This is decreasing branch demand and putting pressure on banks to reduce their number. Technology has impacted the number of bank branches. Customers can access accounts and services online, and a growing number are using their mobile phones for that purpose. This is decreasing branch demand and putting pressure on banks to reduce their number. Seeing how technology impacts their own retail business, banks have given greater scrutiny to loans for new commercial developments and the refinancing of loans for some shopping centers.

Las Vegas ranked in top 20 of secondary CRE markets

Watch out Los Angeles and San Francisco. Both may be top-tier real estate markets, but other cities, including Las Vegas and Henderson, are attracting investors looking to capitalize on secondary markets whose economies were slower to rebound from the recession.

Local loan consultant appointed to new HUD committee

Linda Ayres, a loan consultant at New American Funding’s Las Vegas office, was chosen earlier this year to sit on the newly formed Department of Housing and Urban Development’s Housing Counseling Federal Advisory Committee, created to help design HUDS’ future efforts on homebuyer education.

Las Vegas ranks low in industry job

A new report from the Brookings Institution, a Washington, D.C.-based think tank, said Las Vegas ranked No. 63 out of 100 metropolitan areas in number of advanced industry jobs with 32,967. That’s a cluster of high-paying jobs in manufacturing, technology, engineering and other sectors. While the number may seem disappointing to those wanting a more diverse economy, Las Vegas is making progress. Between 2013 and the end of 2015, it grew by 3.4 percent a year in adding those jobs. That’s ranked 32nd in the nation.