Ameriprise Financial, the $600 billion Minneapolis-based financial company, will come under the supervision of the Federal Reserve Bank of Minneapolis as a result of changes mandated by the Dodd-Frank Act. [Continue]
Although the economy is recovering, it will be years before employment regains 2007 levels, and the housing market is likely to remain dormant for years. Eugenio J. Aleman says. [Continue]
Will the President nominate Barney Frank to head the Consumer Financial Protection Bureau? Although Elizabeth Warren is leading the bureau’s start-up phase, a permanent leader has yet to be named. If the Republicans win a majority in the House of Representatives, Frank would lose his chairmanship of the Banking Committee and might … Read more
When people hear there are 829 banks on the FDIC’s problem bank list, they make wild assumptions about the dire condition of the industry. They assume that all those banks are going to fail and that taxpayer money is at stake. This is in remarkable contrast to the truth. Even more remarkable … Read more
Assessing Dodd-Frank, Iowa bankers plan next steps [Continue]
Has someone ever interrupted a conversation with you to check their Blackberry? How did it make you feel? Unimportant? Insignificant? Small? With all the distractions, particularly those of the electronic bent, effective communication has never been more difficult. Banking is a relationship business and there is no relationship without good communications. Bankers … Read more
Bankers emphasize relationships over products. [Continue]
Low interest rates are heating up the mortgage business across the region, but new rules implementing the Real Estate Settlement Procedures Act are tempering industry exuberance. [Continue]
A program launched last fall to help banks lend money to college students is now active in four states. [Continue]
The banks aren’t lending! When the FDIC noted that second quarter lending had decreased by 1.4 percent, or $107 billion, some sectarian pundits reported “the banks aren’t lending.” The implication is that bankers aren’t doing their job. Why is it that when loan volume declines, everyone assumes bankers are refusing to make … Read more