bank

Key Bank building in Ann Arbor, MI
OZinOH / flickr.com

Michigan banks have made an impressive recovery since January 2011, according to quarterly data compiled by BauerFinanical Inc., a Florida-based ratings service.

As Tom Henderson from Crain's Detroit Business explained:

Wikipedia

Bitcoin: Is it something that could alter centuries of banking and money practices? Or is it an unstable "funny money" fad?

Bitcoin is a digital currency or "cryptocurrency" not backed by any central bank.

But our next guests are banking on bitcoin.

Kinnard Hockenhull actually left the University of Michigan to set up his bitcoin business called BitBox.

And Daniel Bloch is a U of M junior in the College of Literature, Science and the Arts and Engineering. He's working with Hockenhull on BitBox and he's launched his own bitcoin-based nonprofit called Coingive that tries to give charities a helping hand with bitcoin. They joined us today.

Listen to the full interview above.

wikipedia.org

The Arab-American Civil Rights League says hundreds of Arab-Americans received letters from Huntington Bank this year explaining that their accounts have been closed, shut down or terminated.

No reason was given for closing the accounts, and no other link exists between the private and business account holders, except that they are all Arab-American owned accounts.

Steve Carmody / Michigan Radio

Housing advocates are asking Governor Rick Snyder to veto a package of bills that would change home foreclosure rules.

Brother O'Mara / Flickr

Former Michigan Supreme Court Justice sentenced to jail time

“Former Michigan Supreme Court Justice Diane Hathaway was sentenced to one year and one day in federal custody, for the crime of bank fraud. Federal prosecutors say Diane Hathaway illegally concealed a million dollars in assets, so she could qualify for favorable terms on a short sale of one of her homes in Michigan. The defendant had hoped to avoid prison time,” Michigan Radio's Vincent Duffy reports.

Michigan schools could see increase in state funding

“Michigan public schools would see more state funding under a budget plan approved by the state House. Every school would see at least a five-dollar per-pupil boost. Schools getting the minimum amount from the state could receive up to 60 dollars more per student. The state Senate is expected to take up the education budget today,” Michigan Radio’s Jake Neher reports.

Strong winds and funnel clouds cause damage in Michigan

"The National Weather Service reported several funnel cloud sightings in Michigan last night, including a tornado that landed near Goodrich High School southeast of Flint. No injuries were immediately reported. The weather service says high winds in the same severe thunderstorm system heavily damaged several homes, toppling numerous trees and power lines," the Associated Press reports.

Foreclosed house in Ypsilanti Township
Rebecca Williams / The Environment Report

Opponents of a plan to change the foreclosure process in Michigan say it would put more people out of their homes and hurt property values.

They were in Lansing today to protest a package of bills in the state Legislature.

The legislation would shorten the amount of time homeowners have to stop a bank foreclosure from six months to two months.

Ingham County Register of Deeds Curtis Hertel Jr. says banks have wrongly foreclosed on thousands of properties across the state.

He says it often takes months for people to prove they don’t deserve to lose their home.