Ideas
Ease the regulatory burden on community banks
Editor’s note: Congresswoman Gwen Moore (D-Milwaukee) submitted a letter to U.S. banking regulators on behalf of a bipartisan coalition of members of Congress from the Wisconsin delegation asking regulators to consider a scaled approach to the implementation of Basel III banking regulations for small and community banks. Moore’s letter received the support of U.S. Reps. Sean Duffy, Ron Kind, Tom Petri, Reid Ribble and Jim Sensenbrenner. The letter was sent Federal Reserve System Chairman Ben Bernanke, Federal Deposit Insurance Corp. Acting Chairman Marin Gruenberg and Office of the Comptroller of the Currency Tom Curry. The letter reads as follows:
Foreign currency rates clip ManpowerGroup
Milwaukee based ManpowerGroup reported third quarter net earnings of $63.1 million, or 79 cents per share, down from $79.6 million, or 97 cents per share, in the same period a year ago.
BMO completes integration of Harris and M&I
BMO Financial Group announced it has completed the integration of the personal, commercial and wealth operating systems of Harris Bank and M&I Bank.
Bank Mutual gains momentum
Bank Mutual Corp. reported third quarter net income of $2.0 million, or 4 cents per share, up from $1.3 million, or 3 cents per share, in the same period a year ago.
Associated Bank reports robust quarter
Green Bay-based Associated Banc-Corp reported third quarter net income of $45 million, or 26 cents per share, up from $34 million, or 20 cents per share, in the same period a year ago.
Caterpillar lowers outlook
Despite posting a record third quarter with a 49-percent increase in earnings, Caterpillar Inc. lowered its outlook for 2013.
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Good growth and growth for good
Over the past five years most observers would agree there has been little to cheer about in the broader economy. The recession of 2008-09 negatively impacted many economic metrics; from gross domestic product to income to employment to investment spending.
Johnson Controls to acquire assets of bankrupt company
Glendale-based Johnson Controls Inc. has entered into an agreement to purchase the automotive business assets of A123 Systems Inc., a Waltham, Mass., company that has filed for bankruptcy protection.
Seek Careers acquires Minnesota firm
Grafton-based Seek Careers/Staffing Inc. has acquired Minnesota-based Brigham Group Staffing.
Fair Housing Council files complaint
The Metropolitan Milwaukee Fair Housing Council today filed a complaint with the U.S. Department of Housing and Urban Development alleging housing discrimination by Bank of America.