Banking and Lending
Yesterday’s release of meeting minutes from the Federal Open Market Committee’s July 25-26 meeting garnered plenty of headlines due to the dialogue between FOMC members suggesting a rate increase in December may not be as certain as some had initially thought. But smaller banks were not left out of the FOMC’s discussion.
The potential to recruit new customers from big banks is strong, if community banks can convince them that they’ll find comparable technology offerings at their hometown banks.
The state of Vermont has selected Bridgeport-based People’s United Bank to manage its core banking services.
Wells Fargo & Co. Vice Chair Betsy Duke will replace retiring Chair Stephen Sanger next year, one of several changes announced on Tuesday in a board overhaul following a sales practices scandal.
Two of the country’s major credit union advocacy groups have recently sent letters to the Consumer Financial Protection Bureau, pushing for further delay of the agency’s proposed amendments regarding prepaid accounts.
U.S. financial institutions substantially increased issuance of chip debit cards in 2016 and experienced reduced fraud losses, according to the 2017 Debit Issuer Study commissioned by the debit/ATM network PULSE.
As Berkshire Bank gets larger, swelling to more than $12 billion in assets once it completes its acquisition of Commerce Bank, the company continues to take a careful look at the composition of its retail branches.
Two subsidiaries of IQor Holdings Inc. have agreed to pay $500,000 to agencies in five different states, including the Connecticut Department of Banking, for unlawful debt collection practices.
Mortgage applications increased 3 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Aug. 4, 2017.
Wells Fargo will likely turn to a former community banker and Fed official to head its board as the scandal-ridden bank tries to restore its former reputation as a solid, plain-vanilla lender, people familiar with the matter told Reuters.
A New York stock broker has admitted to his role in a $20 million stock fraud scheme based in Connecticut that swindled thousands of victims across the country.
After holding relatively flat last week, the 10-year Treasury yield fell 4 basis points this week.
If you’ve been waiting for the long-anticipated news that the two dominant players in the home mortgage arena – Fannie Mae and Freddie Mac – finally have decided to overhaul their outdated credit scoring systems to expand homeownership opportunities for a broader range of consumers, sorry. Your wait just got a lot longer.
PHH Corp.. PHH Mortgage Corp. and PHH Home Loans (collectively, PHH) have agreed to pay the United States $74,453,802 to resolve allegations that they violated the False Claims Act.
Atlantic Community Bancshares Inc., the holding company of Pennsylvania-based Atlantic Community Bankers Bank and BBN Financial Corp., the holding company of Glastonbury-based Bankers Bank Northeast, recently announced their intentions to merge.
Gen Xers, the demographic cohort following the Baby Boomers and preceding the Millennials, are dominating the mortgage market, according to the results of the National Association of Mortgage Professionals’ most recent monthly member survey.
The share of mortgages nationwide that went from current to 30 days past due was 0.8 percent in May 2017, compared with 0.9 percent in May 2016 and approaching a 10-year-low, according to a recent report from CoreLogic, a global property information firm.
Many Americans do not know the last time the Federal Reserve raised interest rates, and nearly two-thirds of the country think the Fed needs improvement.
Wells Fargo will pay the U.S. government $108 million to settle a whistleblower lawsuit claiming it charged military veterans hidden fees to refinance their mortgages, and concealed the fees when applying for federal loan guarantees.
The National Credit Union Administration continues to face backlash for paying out more than $1 billion in contingency legal fees to several law firms for various lawsuits.
Banking & Lending Top Block
- Hartford Attorney Charged With Larceny
- Former Bankruptcy Attorney Admits To Stealing Millions From Clients
- Ridgefield Realtor Arrested, Charged With Larceny
- Woman Sentenced For Stealing $1.7M From Employer
- Baystate Financial And New England Financial Group Announce Merger