Colorado Attorney General John Suthers Heather Draper[1] Reporter- Denver Business Journal Email[2] | Facebook[3] | Twitter[4] | Finance Etc. blog[5] Colorado Attorney General John Suthers[6]’ office on Monday said it had entered a settlement agreement with Westminster debt-settlement company Prestige Financial Solutions Inc. and its owner, Amy Thompson[7], over allegations that Prestige didn’t meet state consumer protection regulatory requirements. In January 2012, Suthers’ staff accused Prestige of providing debt-management services to Colorado consumers without meeting those regulatory requirements. From September 2008 through July 2012, Prestige was a Colorado registered debt management services provider. Its business practices violated various provisions of the Colorado Uniform Debt-Management Services Act (DMSA) by failing to provide required consumer disclosures, cancellation notices and website information, in addition to other violations, according to the AG’s office. Suthers alleges that Prestige “may have entered into contracts with at least 720 Colorado consumers.” Under the final agency order, Colorado clients may choose to continue to receive Prestige’s services free of charge or terminate Prestige’s services for a full refund of their trust account balances. Prestige and Thompson also agreed to be permanently banned from providing debt-management services for a fee to Colorado residents. In addition, Prestige and Thompson were ordered to pay the amount of $165,000 for consumer restitution, reimbursement of costs and attorneys’ fees, and educational purposes. If they default in making payments under the consent decree, they must pay an additional $2 million, Suthers’ office said. Heather Draper covers banking, finance, law and the economy for the Denver Business Journal and writes for the "Finance Etc." blog. Phone: 303-803-9230. References^ Heather Draper (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Facebook (www.facebook.com)^ Twitter (twitter.com)^ Finance Etc. blog (www.bizjournals.com)^ John Suthers (feeds.bizjournals.com)^ Amy Thompson (feeds.bizjournals.com)...

Greg Edwards[1] Reporter- St. Louis Business Journal Email[2] | Twitter[3] | Facebook[4] Moody’s Investor Service is warning that banks once again may be taking on too much risk as the Fed’s low-interest rate policy encourages them to increase risk to boost earnings. The low rates undercut bank profits and create asset bubbles, the ratings agency noted. “Risks can be clouded by low rates,” said Robard Williams[5], Moody’s vice president. The Moody’s report, published Thursday, said low interest rates are the second biggest lingering risk for the global banking system in 2013, surpassed only by macroeconomic issues such as weak global growth and continued economic problems in Europe, The Street reports[6]. Shoptalk, Banking, Economic development References^ Greg Edwards (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Facebook (www.facebook.com)^ Robard Williams (feeds.bizjournals.com)^ The Street reports (www.thestreet.com)...

Melanie Dressel, CEO, Columbia Bank and Columbia Banking System Inc. Greg Lamm[1] Staff Writer- Puget Sound Business Journal Email[2] | Twitter[3] Columbia Banking System reported net income of $13.5 million for the fourth quarter of 2012, down from $14.8 million for the same quarter a year earlier. The parent company for Tacoma-based Columbia Bank said fourth-quarter 2011 earnings were bolstered by a $6 million favorable impact resulting from one of its acquisitions that were assisted by the Federal Deposit Insurance Corp. Over the past two years, Columbia has acquired five failed banks in deals assisted by the FDIC. Those acquisitions boosted the bank’s assets by 50 percent, making it one of the largest publicly traded banks in the Northwest. The bank’s net interest margin — the difference between interest from bank loans and interest paid to depositors — was 5.2 percent for the fourth quarter, down from 7.1 percent a year ago. The lower net interest margin is a reflection of historically low interest rates. Columbia Bank also announced a dividend of 10 cents per share for the quarter. Columbia said the deal to acquire West Coast Bancorp[4], headquartered in Lake Oswego, Ore., should be completed within the next three months. The bank said it paid $649,000 in legal and professional fees related to the West Coast Bancorp deal. In September, Columbia Bank’s parent company, Columbia Banking System Inc.[5] (NASDAQ: COLB), said it is acquiring West Coast Bancorp[6] of Oregon in a deal worth more than $500 million. Columbia Bank also said it closed three bank branches in 2012, and during the fourth quarter the bank consolidated its Port Townsend and Belfair branches, both located in grocery stores, into nearby full-service branches. Greg Lamm covers banking & finance and law for the Puget Sound Business Journal. References^ Greg Lamm (feeds.bizjournals.com)^…