Money Talk: Nervous investors face rate hike jitters as Feds meet on Wednesday

Editor’s note: Each Monday, Talk Business & Politics provides “Money Talk,” a wrap-up of banking and financial news.

NERVOUS STOCK INVESTORS FACE RATE HIKE JITTERS AS FEDS MEET ON WEDNESDAY: After U.S. stocks got caught in the oil market downdraft last week, investors will wake up Monday morning looking for some good news ahead of the Federal Open Market Committee, which begins its two-day monetary policy meeting on Wednesday. A recent Wall Street Journal survey says many economists are convinced that the Feds will raise interest rates this week. Read more here.

BANKERS’ TRADE GROUPS ASK USDA TO PROVIDE RELIEF FOR COTTON FARMERS: The American Bankers Association (ABA) and the Independent Community Bankers of America issued a joint letter to the U.S. Department of Agriculture urging the USDA to designate cottonseed as an ‘other oilseed’ for purposes of the Agriculture Risk Coverage and Price Loss Coverage programs. Doing so would help bring stability and support to cotton producers currently struggling with steadily declining revenues and high production costs.

Cotton is the only traditional ‘program’ crop that is not protected by a fixed price protection policy from the Farm Service Agency under the 2014 Farm Bill. However, the bill does include statutory authority for the USDA to designate ‘other oilseeds’ for purposes of farm bill programs.

SEC HANDS OUT $37 MILLION TO WHISTLEBLOWERS IN FISCAL 2015: The federal Securities and Exchange Commission (SEC) in fiscal 2015 paid out more than $37 million in cash to whistleblowers for original information that led to a successful enforcement action involving monetary sanctions totaling over $1 million. Since 2011, the SEC has paid more than $54 million to 22 whistleblowers since the new whistleblower rules went into effect in August 2011 under the Dodd-Frank Act. To see the SEC’s annual whistleblowers report, click here.

FIRST SECURITY NAMES NEW ACCOUNT EXECUTIVE FOR CREWS & ASSOCIATES IN CONWAY: Derek Whitehead has been named account executive to serve First Security Bank’s Conway market for its Crews & Associates investment banking firm. For the last six years, Whitehead served as an account executive in Crews & Associates’ Little Rock office. In his new role, Whitehead will be serving younger clients in the wealth accumulation phase that need growth from stocks and mutual funds, as well as older clients in the wealth preservation phase that utilize tax-free municipal bonds, corporate and government bonds, CDs, and annuities.