The City of Dubuque and Dubuque Bank and Trust (DB&T) have collaborated to successfully resolve issues related to interest earnings owed to the City.
DB&T recently paid the City just over $2 million dollars in interest earnings following a review of a banking services agreement between the City and DB&T from 2007 to present and the City’s accounts covered by that agreement.
Following a competitive selection process that included eight different banking proposals, the City recently awarded a new banking services agreement to DB&T. It was during the preparation of the new banking services recommendation at a City Council meeting in November City staff identified the discrepancy from the agreement in place. It was brought to DB&T’s attention and quickly resolved.