One week after acquiring Farmington Bank, Jack Barnes, CEO of People’s United Bank and its parent company, has a new title.
People’s United Financials’ $544 million purchase of the parent company of Farmington Bank is one of this year’s largest bank deals in the U.S.
While a bipartisan bill that would pave the way for financial institutions to bank marijuana picks up steam, panels in the U.S. House and Senate are defeating measures and amendments that are essentially attempting to do the same thing.
People’s United Bank announced this morning that it will acquire the parent company of Farmington Bank in an all stock transaction valued at roughly $544 million and 180 percent tangible book value.
The National Credit Union Administration on June 21 will consider a final rule regarding field of membership, a move that bankers are fiercely opposed to.
The Consumer Financial Protection Bureau’s payday lending rule, created by former CFPB Director Richard Cordray, will go into effect in August 2019 as originally intended.
With all of the expenses banks and credit union rack up just to cover the cost of doing business, it’s hard to consider paper as a huge driver.
Federally-insured credit unions continued to see solid growth in the first quarter of 2018.
Bank certificate of deposit rates in Connecticut continue to tick up, but lag slightly behind other nearby states.
Recent legislation passed by state lawmakers has expanded the banking commissioner’s authority over non-mortgage licensees such as small loan lenders, mortgage and student loan servicers, check cashers, consumer collection agencies, money transmitters and other related entities.
The parent company of Hartford-based United Bank announced last week that it will acquire six branches from Waterbury-based Webster Bank, a move that will allow it to increase its presence in existing coverage areas and expand into new markets.
Rogers Employees Federal Credit Union has filed an application to merge into Trumbull-based America’s First Network Credit Union, according to a recent filing from the Connecticut Department of Banking.
It may not happen often, but both credit union and community bank advocates cheered yesterday as the U.S. House of Representatives passed a Dodd-Frank regulatory relief package, sending the bill to President Donald Trump, who is expected to sign the legislation into law.
Connecticut spent almost 1 percent of total state government expenditures on costs associated with the opioid crisis in fiscal year 2015.
The MetroHartford Alliance has named David Griggs as the organization’s new CEO and president.
Two Long Island residents were recently sentenced in federal court for their roles in two separate investment fraud schemes that victimized Connecticut residents.
Credit unions in Iowa will not be subject to state taxes, a decision viewed as a victory for credit unions nationwide in the longstanding debate over whether they should be taxed like banks.
More than 40 percent of banking institutions that must adhere to the Federal Deposit Insurance Corp. Improvement Act within the next year are behind schedule for compliance.
The parent company of New Canaan-based Bankwell Bank saw a solid increase on profits in the first quarter, but also reported an unexpected increase in its efficiency ratio and in non-performing loans.
For the first time in nearly a decade, there is a proposal to form a new bank in Massachusetts.