Banking & Financial Services

PPP Update

As the nation’s banks continue to fine-tune the Paycheck Protection Program implemented by Congress to help avert layoffs during the COVID-19 crises, today looms as a key date in phase II of the $349 billion program. As of this morning,… more

Beyond PPP

Banks have been quick to respond with customer-driven programs that may be forsaking short-term revenue gain, preserving the longer-term relationships that will be valuable once the recovery begins While the Small Business Administration is forgoing traditional loan structures with banks… more

Q&A with: Leslie Davis, True Peace Financial Solutions/AE Wealth

Leslie Davis is the owner of True Peace Financial Solutions in Overland Park, Kan., an affiliate of Topeka-based AE Wealth, which has more than $7 billion in assets under management. She talked about challenges in the investment market right now.… more

UMB Revises Financial Forecast for 2020

A year that started on with a booming U.S. economy is now certain to include a recession. That’s the take-away from UMB Bank’s chief investment officer, KC Mathews, who has issued a 2020 economic forecast updated to reflect the impact… more

Kemper: Liquidity, Not Lending, for Businesses

“The greatest financial relief we can give small and mid-sized businesses in this economic crisis is faster payment of their outstanding invoices—liquidity.” With that declaration, Kansas City’s Sandy Kemper, founder and CEO of C2FO, is calling for a different approach… more

Waddell & Reed Assets Under Management Plunge

Overland Park-based wealth-management firm Waddell & Reed's assets under management took a plunge from February to March, dropping from $65 billion to $56 billion. The fall has taken place as the stock market saw extreme volatility during that time frame.… more

Commerce Bancshares Delays Quarterly Filings

Kansas City-based Commerce Bancshares has delayed its quarterly financial filings from April 14 to April 28, due to problems posed by COVID-19. It follows another large area public company, Seaboard Corporation, which has changed its annual meeting location on April… more

Banks Cleared to Make Relief Loans

Federal relief for small businesses slammed with cash-flow challenges during the COVID-19 recession has begun flowing, as banks have the green light to begin making loans under the CARES Act’s Paycheck Protection Program. PPP has set aside $349 billion for… more

Unemployment Claims Unfortunately Break More Records

The unemployment picture in the United States has gotten a lot more grim, due to COVID-19 shock waves. For the week ended March 28, unemployment claims hit 6.448 million, a new record since the numbers have been tracked by the… more

House Passes Major Stimulus Package

The U.S. House of Representatives today passed a record  $2-trillion stimulus bill to help individuals and businesses recover financially from COVID-19. An NBC News report breaks down how much of stimulus check that one will receive: "If you made less… more