Angry about Iowa's cap on deposits, Norwest Corp. in 1993 threatened not to expand in the state, called its competitors there "scared," and quit the Iowa Bankers Association.

But after nearly three years, lawmakers have yet to even bring a bill to the floor of the Iowa Legislature that would raise the state's cap on deposit holdings above 10%.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.