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Banking and Finance

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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 …
By BUSINESS RECORD STAFF | Feb 22, 2021
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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 …
By EMILY BARSKE | Feb 19, 2021
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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 …
By BPC Staff | Feb 19, 2021
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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 …
By BPC Staff | Feb 18, 2021
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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 …
By BPC Staff | Feb 17, 2021
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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 …
By JOE GARDYASZ | Feb 10, 2021
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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 …
By BPC Staff | Feb 9, 2021
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F&M Bank, CBI Bank & Trust announce merger

Corridor Business Journal: Central Bancshares Inc., a community bank holding company based in Muscatine, announced that it has merged two of its subsidiaries, Galesburg, Ill.-based F&M Bank and Muscatine-based CBI Bank & Trust. The combined organization …
By BPC Staff | Feb 8, 2021
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Dwolla founder Milne joins board of Lincoln Savings Bank

Ben Milne, founder and chairman of Des Moines-based payment platform Dwolla Inc., has joined the board of directors of Lincoln Savings Bank. Milne, who holds various patents for payment processing technologies, has participated in the …
By BPC Staff | Feb 8, 2021
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Cetera to acquire Voya Financial Advisors’ independent advisory arm in $300M deal

Voya Financial Inc. announced today that it has entered into a definitive agreement with Cetera Financial Group Inc. for Cetera to acquire the independent financial planning channel of Voya Financial Advisors, Voya’s registered investment adviser and broker-dealer.…
By BPC Staff | Feb 8, 2021