Survey: 47 percent of banking leaders say housing market poses economic risk
Nearly half of community bank executives say the current state of the housing market “poses a serious risk” to the U.S. economy. [Continue]
Writer: Sam Wilmes
Community banks seek balance on overdraft charges as political pressure builds
As political pushback builds against bank overdraft fees, community bankers are attempting to balance the fees with appropriate customer protections. James Johannes, a University of Wisconsin-Madison finance professor, recently told the Wisconsin Bankers Association that financial institutions “are rethinking how to generate fees in a more politically acceptable manner.” [Continue]
ICBA chair: Community banks must come together to protect industry
Independent Community Bankers of America Chair Robert Fisher recently called on community banks to “band together” to oppose proposed enhanced reporting requirements and the policies he said are enabling the rapid pace of credit union-community bank purchases. [Continue]
Smallest businesses find most PPP funding success with community banks
A recent Federal Reserve report found that small businesses without employees were more successful in obtaining Paycheck Protection Program funding from community banks than larger financial institutions and credit unions. [Continue]
Creighton survey: Wholesale prices soar in July, economic outlook falls
A July economic indicator report recently released by Creighton University/Heider College of Business predicts “very strong growth” over the next three-six months but is also indicating inflation and a plummeting confidence index. [Continue]
SEC chair: More staffing, regulations needed to protect crypto investors
The meteoric rise of the cryptocurrency market is leaving state and federal regulators cautioning that the industry is not sufficiently protecting investors and operates “like the Wild West.” [Continue]
Steinwand named Bank of North Dakota president/CEO
Todd Steinwand was named Bank of North Dakota’s new president/CEO July 27 following the retirement of the institution’s longest-serving president, Eric Hardmeyer. [Continue]
Consumer sentiment falls in July
Consumer sentiment dropped 5 percent in July due to inflationary concerns, according to a July University of Michigan Consumer Sentiment Index. [Continue]
BankIowa to acquire Rowley Savings Bank
BankIowa of Independence, Iowa, has entered into an agreement to acquire fellow Iowa financial institution Rowley Savings Bank. [Continue]
Survey: Business optimism rebounding as variant poses uncertainty
Despite continued uncertainty surrounding the trajectory of Covid-19, optimism among small and middle market businesses is rebounding. [Continue]