Banking & Finance
Top executives call on Congress to avoid fiscal cliff
Chief executive officers at more than 80 major U.S. corporations released a statement today to pressure Congress to reduce the federal deficit with tax increases and spending cuts.
Milwaukee Biz Blog: Ease the regulatory burden on community banks
Wisconsin’s bipartisan Congressional delegation is appealing to federal banking regulators to make a distinction between the regulatory burdens on large national banks and smaller community banks.
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.
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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.
Johnson Controls plans restructuring
Johnson Controls Inc. has released details of the restructuring activities it has planned for the fourth quarter.
BizTimes Money Weekly: Fair Housing Council files complaint against Bank of America
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.
