Bankers eye possible government shutdown
A federal government shutdown could begin later this week unless Democrats and Republicans strike a deal to raise the debt ceiling. [Continue]
Writer: Sam Wilmes
China-U.S. retains strong trade tries amid tension
U.S.-China trade relations remain strong despite ongoing tensions between the two countries, according to former ambassador Terry Branstad and former Secretary of State Mike Pompeo. [Continue]
Ag professor: More workers needed to tame inflation
Growing the U.S. workforce either through more immigration or a higher birthrate will tame any future problematic inflation rates, according to a Purdue University professor. [Continue]
Charles Funk receives IBA’s Leach Award
Charles Funk, president and CEO of Iowa City-based MidWestOne Bank has received the Iowa Bankers Association’s 2021 James A. Leach Leadership Award. The award was presented to Funk on Sep. 21 at the association’s annual convention in Des Moines. Funk is “a natural leader” and “a champion of leadership,” stated one of several letters supporting his selection, this one penned by bank colleagues Bill Bywater, Sue Evans, Barb Finney, Soni Harney and Thais Winkleblack. [Continue]
ABA Chair: Credit union deals at ‘inflection point’
Credit union purchases of community banks are at an “inflection point,” American Bankers Association Chair Jim Edwards said, bankers must advocate for the industry as they continue. [Continue]
Small business loans up slightly in August
Lenders both traditional and non-traditional approved slightly higher numbers of small business loans in August, according to a study from online lender Biz2Credit. [Continue]
Bill raising CU lending limits draws community bankers’ ire
Community bank leaders say a bill that would raise loan maturity limits for federal credit unions would further unbalance the competitive field. [Continue]
Ag, C&I loans drop in 2Q 2021
Agriculture and commercial and industrial loans saw significant year-over-year decreases across the Upper Midwest in 2Q 2021, a trend one Federal Reserve researcher attributes to an influx of government pandemic relief and increased income from rising commodity prices. [Continue]
Fed’s debit networking plan draws industry ire, support
More than half a dozen financial trade organizations are criticizing the Federal Reserve’s proposal to make at least two unaffiliated debit networks available on every debit card issued in the United States, including for card-not-present transactions. [Continue]
Black-owned bank to open Twin Cities branch
Detroit-based First Independence Bank, a Black-owned bank, plans to open a Twin Cities branch in early November, pending FDIC approval. The bank filed its branch application on August 19. Currently, the Twin Cities does not have a Black-owned bank. [Continue]