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Banking and Finance

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Bank of America prepares for a rainy day

Bank of America Corp.’s shopping list for the next recession has these items: commodities, bonds that protect against inflation, real estate and the equities of small Chinese companies, Bloomberg reported.


The Charlotte, N.C.-based bank expects a…
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GE is selling its commercial lending and leasing business to Wells Fargo

As part of its plan to focus on manufacturing, General Electric Co. said it will sell commercial lending and leasing businesses worth more than $30 billion to Wells Fargo & Co., Reuters reported. Overall, General Electric is …

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Princeton professor wins Nobel Prize in Economics

A 69-year-old Princeton University professor was awarded the 2015 Nobel Memorial Prize in Economic Science for his analysis of consumption, poverty and welfare, Bloomberg Business reported.


The Royal Swedish Academy of Sciences announced Monday that Angus…
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Big U.S. banks boost efforts to recruit, retain female employees

The Wall Street Journal: Under pressure to reduce the number of women dropping out of the banking industry, some of the biggest firms in the U.S. finance industry are going on the offensive. Recognizing they can’t …

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Bank tellers: See them, hear them, but where are they?

The interactive teller machine is getting some love at banks and credit unions across the state. The Corridor Business Journal, citing KCRG-TV9, reported that MidWestOne Bank has installed one at a branch in Iowa City. PSB Bank …

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New program will assist workforce housing

A new Workforce Housing Loan Program is now available to communities with a need for additional rental housing as a result of local employment growth, the Iowa Finance Authority said.


The program has a total…
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Banks oppose proposal that would boost federal highway funding

A proposal to slash dividends paid to private banks that are members of the Federal Reserve system is drawing criticism from the banks. “It sets a bad precedent,” a spokeswoman for the Iowa Bankers Association …

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Consumer watchdog seeks partial ban on arbitration clauses

Banks and credit card companies may not force customers to sign away their legal rights to take part in class-action lawsuits, under an early-stage U.S. government proposal that is likely to draw ire from Wall …

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Millennials are optimistic about their financial future

Millennials are looking into the future and feeling pretty good about what they are seeing, according to a Wells Fargo & Co. survey.


The survey also detected a bit of a generational divide. The survey…
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Veridian Credit Union hosts five shred-day sites Saturday

Veridian Credit Union will host a community shred day at five spots across Iowa Saturday. The shred day, from 9 a.m. to noon at Veridian Credit Unions in five Iowa cities, will provide Iowans a way…