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Posts tagged: Bank of America

Bank of America to close branch near Spokane Courthouse


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The Bank of America branch at 804 N. Monroe St. near downtown Spokane will close in May, the company announced.

The plan is to move that branch’s workers to other positions in the area, bank spokeswoman Britney Sheehan said.

The closure results from “ongoing evaluation” of how BofA's local branches serve the community’s banking needs, she added.

The bank will install a stand-alone ATM in the area of Broadway and Monroe, though Sheehan said the location hasn’t been identified yet.

BofA expects to continue reducing the number of branches over the next 10 years as customers adopt a variety of other options for managing accounts and obtaining bank services, Sheehan said.

Washington AG McKenna sues firm for alleged illegal foreclosures

Washington State Attorney General Rob McKenna on Friday filed a consumer protection lawsuit against a Bank of America subsidiary, ReconTrust, based in Simi Valley, Calif., for numerous alleged illegal foreclosures against Washington homeowners.

The company is a foreclosure agent for the bank.

A press release noted that “ReconTrust ignored our warnings, repeatedly broke the law and refused to provide information requested during our investigation,” McKenna said. “ReconTrust’s illegal practices make it difficult, if not impossible, for borrowers who might have a shot at saving their homes to stop those foreclosures.”

Notably, at least 74 Spokane County homes are included in the several thousand potential victims of the alleged bad practices of ReconTrust, according to a database maintained by ReconTrust, listing the homes it's foreclosed on and is currently selling.

To search the full list of recent (2011) foreclosures processed by ReconTrust in Washington, here's the link.

An AG's office spokeswoman said the suit does not allege every ReconTrust foreclosure followed the same pattern.

The release notes, however, that “ReconTrust has failed to comply with the Washington Deed of Trust Act, RCW 61.24, in each and every foreclosure it has conducted since at least June 12, 2008.”

Agora winners announced, including Second Harvest Food Bank

Greater Spokane Inc. on Wednesday announced winners of the annual Agora Awards, which recognize excellence in area businesses.

Winners are:

  • Small business: Desautel Hege Communications
  • Medium business: Horizon Hospice
  • Large business: Spokane Industries Inc.
  • Entrepreneurial Spirit winner: Vanessa Behan Crisis Nursery. 
  • Community Service winner: Northwest Farm Credit Services.
  • Small nonprofit: Spokane Lilac Festival Association
  • Large nonprofit: Second Harvest Food Bank.
  • The main sponsor of the awards is Bank of America.

TierPoint in Liberty Lake adds capacity, plans for the future with a green data center


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Liberty Lake-based data center TierPoint has two announcements this week. First, it’s upgraded its network to 50 gigabits per second capacity.

Second, it’s announced an $8.2 million project to build a third center, TierPoint 3, just down the street from its first and second centers.

The network upgrade means customers who provide Internet and network services from TierPoint will see a faster connection, and even more reliable service, and those who host from the Libery Lake center will have more bandwidth available, said Dan Seliger, one of the partners of the company.

With the new data center, roughly 10,000 square feet, TierPoint is adopting a Green approach to cooling, relying on a system that will draw underground water and use it to cool off the rack room.

About $4.1 million of capital for the project came from financing from Bank of America/Merrill Lynch; another $3.1 million came from Evergreen Business Capital; with another $3.1 million provided by a small business loan through the Small Business Administration (SBA).

TIerPoint, which was founded by tech guru Bernard Daines, provided the remaining $1.0 million.

It’s expected to be operating next spring.

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