Far West

The Financial Industry Regulatory Authority has fined two firms a total of $7,500 for violations of Municipal Securities Rulemaking Board rules, FINRA said in its monthly disciplinary report Monday.

New York's MTA seeks up to $300 million in federal funding for infrastructure improvements for the L subway line to account for a spike in ridership.

Stockton, Calif. received approval of its bankruptcy plan in October, but it continues to face challenges from its holdout creditor, Franklin Advisors.

The state of Alaska recently lowered its revenue forecast due to declining oil prices, with no immediate impact on its credit rating, according to Fitch Ratings.

The House late Thursday passed a spending bill known as the "cromnibus" that would fund most federal government agencies through the end of the federal fiscal year.

Jerry Nickelsburg, senior economist for the UCLA Anderson Forecast, said California's infrastructure is in dire need of reinvention for the 21st Century.

Ratings on many of California's cities continue to recover from the recession, but credit rating distribution in the state remains uneven, according to a report from Standard & Poor's.

Nevada's new Republican majority in the state legislature and Republican Gov. Brian Sandoval are facing a budget shortfall and anemic revenues that could test anti-tax increase pledges as Sandoval hints at reforms to the tax structure.

The Cherokee County School System is negotiating with the Internal Revenue Service to settle a tax dispute, after an IRS agent contended in an audit of 2007 bonds that there was an arbitrage problem.

For the month of November, California's total revenues came in slightly below estimates, with lower-than-expected income and sales tax collections, according to the state controller.