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Banking and Finance

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Principal CEO: No ‘speed bumps’ anticipated in Wells Fargo deal

Principal Financial Group’s CEO says he doesn’t anticipate any regulatory issues that would prevent the proposed $1.2 billion acquisition of Wells Fargo’s retirement businesses from being approved. 

In an agreement announced this morning, Principal plans …
By JOE GARDYASZ | Apr 9, 2019
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Wells Fargo CEO Tim Sloan steps down suddenly

CNN Business: Wells Fargo CEO Tim Sloan is stepping down effective immediately as the bank struggles to overcome a litany of scandals. Sloan, a three-decade veteran of Wells Fargo, said it was his decision to relinquish …
By BPC Staff | Mar 29, 2019
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CFO Systems adds search and staffing subsidiary

Omaha-based CFO Systems, a national financial and human resources leadership firm with operations in Des Moines, announced it has launched a subsidiary company, CFO Systems Search & Staffing. The new search and staffing company is led …
By BPC Staff | Mar 27, 2019
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LMC Financial Services rebrands as LMC Financial Advisors

LMC Financial Services announced that the company has changed its name to LMC Financial Advisors. The rebranding comes after its parent company, West Des Moines-based LMC Insurance and Risk Management, acquired ISG Financial Advisors in Madison, Wis., …
By BPC Staff | Mar 26, 2019
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Alternative lenders pose threat to bank HELOC market: Survey

Record levels of credit card debt, rising interest rates and a proliferation of alternative lenders are making personal loans the fastest-growing category of consumer debt products.

According to the J.D. Power 2019 Personal Loan Satisfaction Study released …
By BUSINESS RECORD STAFF | Mar 25, 2019
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West Bancorporation continues reign among top community banks

Seven years and counting for West Bancorporation’s ranking among the top 10 percent of publicly traded community banks. The West Des Moines parent of West Bank ranks No. 19 on the Raymond James Community Bankers …
By BPC Staff | Mar 22, 2019
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Bankers Trust, Veridian are branching out

Bankers Trust Co. has opened a new 7,000-square-foot branch office at 1925 N. Ankeny Blvd., Ankeny. The new building has more than three times as much space as the bank’s former Ankeny location. In addition …
By BPC Staff | Mar 20, 2019
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NOTEBOOK – One Good Read: Regulator slams Wells Fargo after CEO testifies to Congress

Wells Fargo received a rare — and highly public — rebuke from a top regulator minutes after CEO Tim Sloan finished testifying before a “combative” House panel on Capitol Hill, reports the Wall Street Journal. “We continue …
By KATE HAYDEN | Mar 13, 2019
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Axne accuses Wells Fargo of cutting Des Moines workers to ship their jobs overseas

Des Moines Register: While Wells Fargo blamed declining workload when it announced hundreds of local layoffs late last year, U.S. Rep. Cindy Axne said the company appeared to be shipping American jobs overseas. Axne, D-Iowa, questioned …
By BPC Staff | Mar 13, 2019
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The bull market turns 10

The Great Recession gave way to a up-and-down recovery that celebrated its 10th birthday over the weekend, the Chicago Tribune reported.

A few of the bumps came close to the 20 percent drop that would signal …
By PERRY BEEMAN | Mar 11, 2019