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Insurance

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ING Bank reaches $619 million settlement agreement

ING Bank NV agreed to pay $619 million to settle allegations that it violated rules against conducting business on behalf of Cuban and Iranian clients in U.S. financial markets, Reuters reported.

The Dutch bank entered …

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Nearly half of local economy tied to financial services

Greater Des Moines’ financial sector accounts for a bigger portion of its gross metropolitan product (GMP) than that sector does in any other U.S. market, according to an analysis by The Business Journals.

The financial …

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‘Immigrant investors’ follow a path to citizenship

Thousands of wealthy foreigners are lining up to make investments in the United States and place themselves on a path to citizenship in the process, CNNMoney reported.

The U.S. State Department expects to issue more …

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Bankers expect business loans to grow this year

The American Bankers Association predicts that business-loan volume will grow by 11.5 percent this year, a 1.6 percentage point increase from 2011, The Business Journals reported.

“Our consensus forecast is that the economy isn’t growing …

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American Equity president to take medical leave of absence

American Equity Investment Life Holding Co. announced today that Wendy Waugaman, president and CEO, will take a medical leave of absence.

According to a company press release, she will remain on American Equity’s board of …

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Bank Iowa Corp. names new president

Jim Plagge will be Bank Iowa Corp.’s new president and CEO. Plagge is replacing Stan Honken, who will continue to serve on the bank’s board of directors following his retirement on July 1.

With more …

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BERKO: Wal-Mart vs. Illinois bonds

Dear Mr. Berko:

I bought 600 shares of Wal-Mart Stores Inc. in 2006 at $45, intending to hold it forever because I always believed it was such a fine and upstanding company. Now Wal-Mart is …

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BERKO: Living through start of a new economic era is painful

Dear Mr. Berko:

I’m 63. I closed my printing shop three years ago because I couldn’t compete, and 27 good people lost their jobs. A home builder I’ve known for 23 years declared bankruptcy last …

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BERKO: Dunkin’ Donuts got soaked by Wall Street’s ‘gangbangers’

Dear Mr. Berko:

Last November, I bought 45 Dunkin’ Donuts shares at $25, and now it’s at $33. Do you think it will raise its dividend? I want to know if I should sell 60 …

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Principal committed to banking operations

The CEO and chief operating officer of the investment arm of Principal Financial Group Inc. said yesterday that Principal has a strong commitment to banking, even though many other competitors are leaving the banking business.…
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