675 stories · Page 14 of 14. Dates refer to publication.
File photograph, November 1942, of the Geneva Steel mill in Vineyard. Historical image; the mill shut down in the early 2000s. Photo: Andreas Feininger · CC0 · Wikimedia Commons
A $110 million federally guaranteed loan helped Geneva Steel emerge from bankruptcy in 2001. Within a year the Utah mill was idle and back in bankruptcy; the government paid $92.1 million on its guarantee, and the equipment was sold to a Chinese steelmaker for $40 million.
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A Utah promoter sold plastic solar lenses for $3,500 each with the pitch that buyers could zero out their federal taxes. Courts found the technology never worked, upheld a $50 million disgorgement order and denied investors’ credits, and a receiver has spent years chasing the money.
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SunFirst’s search for capital drew it into illegal online-poker processing. Its closure, a banker’s guilty plea and the receivership’s later termination show how payment access, bank solvency and customer protection intersected.
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UIA has proposed up to $25 million in new bonds for the fiber network it shares with UTOPIA. This guide explains how the two agencies’ books differ, what the records show, and what remains unconfirmed.
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First Security’s failed combination with Zions and its 2000 acquisition by Wells Fargo show how shareholder decisions and local competition shaped Utah banking consolidation.
Utah has built financial cushions and paid down bonds. Its state accounts also show slower growth in budget balances, a sharp drop in corporate tax collections and financial controls that auditors said needed repair.
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The FTC and the Utah and Nevada attorneys general sued Lens.com on October 2 in the U.S. District Court for the District of Nevada. Their complaint alleges that advertised contact-lens prices omit substantial mandatory checkout fees and that AutoRefill charges, cancellation instructions and cancellation deadlines were not clearly disclosed.
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Utah’s Department of Financial Institutions lists five industrial-bank applications as pending in a tracker last updated August 21. Four other industrial-bank proposals show state approval but remain opening pending.
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The Sept. 29 gathering in Salt Lake City put agentic AI in lending, servicing, customer experience and oversight on one agenda, and LoanPro and Spring Labs announced a complaint-management partnership the day before.
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Salt Lake City-based LoanPro announced a partnership to embed Spring Labs’ AI tools for complaint management and quality assurance in its lending platform beginning in the fourth quarter of 2026. Credit, transaction and fraud-dispute workflows are planned to follow in 2027.
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The FinWise exclusion and objection deadline passed Sept. 29, and the notice and court order gave conflicting objection instructions. Claims are due Oct. 29, and a final approval hearing is set for Dec. 10, 2026.
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MoonPay announced a definitive agreement on September 23, 2026 to acquire North Capital Investment Technology, a Salt Lake City-based private-markets infrastructure provider. The deal is subject to regulatory approvals and customary closing conditions.
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Utah joined a Credit Acceptance settlement worth $694 million in restitution and canceled debt nationwide, not all of it cash. Utah's announcement identifies 124 affected consumers and about $1.9 million in state-related relief. The states allege unaffordable lending and inadequate oversight of dealer add-ons.
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Utah Senator John Curtis announced his support for the bipartisan AI Whistleblower Protection Act. His office says the proposal would protect covered disclosures involving federal-law violations, national security or public safety, prohibit retaliation and prevent nondisclosure agreements from blocking protected reports.
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California closed Irvine-based Nano Banc on September 25 and appointed the FDIC as receiver. Sandy, Utah-based Sunwest Bank agreed to assume substantially all deposits and purchase selected assets. Sunwest says customer access continues and the branch is scheduled to reopen under its name September 28.
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The Utah Bankers Association lists the AI-Native Banking and Fintech Conference for September 29, 9 AM–6 PM Mountain Time, at the Ken Garff University Club at Rice-Eccles Stadium.
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Industrial banks, specialty lenders and fintech partnerships anchor Utah’s banking ecosystem. The ABA Annual Convention is scheduled for Salt Lake City, October 25–27.
