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Banking and Finance

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Iowans urged to wait to file taxes as unemployment rules shift

Des Moines Register: With Congress passing a COVID-19 relief package Wednesday that includes tax forgiveness for unemployment benefits — and with the Iowa Legislature debating a similar proposal — Iowa accountants are telling clients to pause …

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Treasury announces $9B available for Emergency Capital Investment Program

The U.S. Treasury announced that it is opening the application process for the Emergency Capital Investment Program, a new initiative designed to support access to capital in communities traditionally excluded from the financial system and that have …

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Iowa banks’ loans and deposits up in 2020, but net income dips

Loan volume at Iowa-chartered banks increased by 5.8% in 2020 over 2019, according to the latest data filed with the Federal Deposit Insurance Corp. Iowa banks recorded nearly $68.1 billion in active loans on their…
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IRS: Employers will have additional discretion in FSA, dependent care plans in ’21, ’22

The Internal Revenue Service announced it will give employers additional discretion over the next two years in adjusting flexible spending accounts and dependent care assistance programs due to the pandemic. Under the COVID-related Taxpayer Certainty and Disaster …

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NOTEBOOK – ONE GOOD READ: How much of your money do you want working for you?

More and more people have large sums of money in savings – and it’s way more than any financial-planning manual or guru will tell you to have, writes Brian Hood, who is a certified financial planner and …

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Workiva names Jill Klindt as chief financial officer

International data compliance software firm Workiva has named Jill Klindt as chief financial officer following Stuart Miller’s retirement as executive vice president and chief financial officer after seven years, the Ames company announced this week. Klindt …

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U.S. Bank launches $25M microbusiness fund focused on women of color

U.S. Bank announced it has created a $25 million microbusiness fund focused on grants and investments in businesses owned by women of color. The new program is part of its U.S. Bank Access Commitment, which will …

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FDIC names first chief innovation officer

The Federal Deposit Insurance Corp. announced it has named Sultan Meghji as the agency’s first chief innovation officer, charged with leading the FDIC’s efforts to promote the adoption of innovative technologies across the financial services sector. Meghji …

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A Closer Look: Bob Weiss

In November, U.S. Bank appointed Bob Weiss as one of three leaders nationally to head community banking within the bank’s Consumer and Business Banking Division. Weiss, who began his career with U.S. Bank right out …

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Citibank to refund Iowans for credit card overcharges

Corridor Business Journal: Iowa Attorney General Tom Miller announced Monday that Citibank will pay $4.2 million to resolve allegations that it overcharged credit card interest for about 25,000 customers in Iowa and four other states. As …