Banking & Lending

BREAKING NEWS: Amid Scandal, Frank Defends Dodd, Slams Countrywide
By Jeff Haynes
Connecticut Sen. Christopher Dodd got a plug for his integrity from Massachusetts Congressman Barney Frank, who, like Dodd, has received thousands of dollars in campaign contributions from Countrywide Financial.

CCBA Celebrates 20 Years In Style
Drinks, dancing and dining were the orders of the night at the 20th anniversary gala celebration of the Connecticut Community Bankers Association. Check out some of the photos from the event here. Here's to another 20 years!

Webster Raises Cash As Bad Loans Mount
By Jeff Haynes
Facing $253.6 million in troubled loans, Webster Financial Corp. is issuing $225 million in preferred stock to raise cash.

SBA Breaks Loan Barriers but Banks Balk
By Jeff Haynes
As credit worries dominate the lending landscape, the Small Business Administration has a commercial loan package that translates to less exposure for banks. But takers are hard to find.

Essex Savings Bank Puts Trust in Martin
Moira Bessette Martin has been added to Essex Savings Bank’s trust department as vice president and trust officer.

Gov. Rell OKs ID Theft Legislation
In the wake of a recent security breach that exposed the personal data of nearly 500,000 state residents, Gov. M. Jodi Rell has signed legislation to help safeguard information such as Social Security numbers, driver’s license numbers and insurance, bank and credit card account numbers.