Winsted-based Northwest Community Bank opened its first Simsbury branch in December and recently held a ribbon-cutting ceremony at the new location. The branch is fully-operational through its drive-up window, ATM and scheduled appointments inside with branch personnel to comply with safety protocols.
Biden returns to the White House today as president a dozen years later with the economy battered and shaken by a pandemic. But this time is different – and it could reset the nation’s politics if Biden and Democrats can count on a level of growth not seen in a generation.
Janet Yellen, President-elect Joe Biden’s choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion pandemic relief plan, rejecting Republican arguments that the measure is too big given the size of U.S. budget deficits.
President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed.
1st Alliance, the East Hartford-based former mortgage company being investigated by the state of Connecticut, is now facing a lawsuit from the Consumer Financial Protection Bureau.
The pandemic and recession aren’t over by a long shot, but megabanks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile.
Essex Savings Bank’s longtime leader, Gregory Shook, will retire this summer, and Diane Arnold will take over as president and CEO.
While positive developments with the pandemic led JPMorgan Chase to release funds from its credit reserves, leading to record profits in the fourth quarter, the total credit reserves remain high.
The Paycheck Protection Program loan portal will open to lenders with $1 billion in assets or less at 9 a.m. tomorrow, with the remaining lenders gaining access to the portal on Tuesday.
The Office of the Comptroller of the Currency this morning finalized a rule to prevent large banks from limiting their lending activities in certain industries, just hours after Acting Comptroller of the Currency Brian Brooks said he was leaving the agency.
With another round of the Paycheck Protection Program starting this week, lenders will have to manage the process for new loans while still getting through last year’s forgiveness applications.
In a little-known civil action, the Consumer Financial Protection Bureau is investigating the real estate affiliate of Quicken Loans for allegedly illegal kickbacks.
The Torrington Savings Bank’s charitable foundation has awarded more than $100,000 in grants during their annual fall grant cycle.
Synchrony CEO Margaret Keane will step down in April after 10 years leading the Stamford-based financial company.
The Jewett City Savings Bank Foundation has awarded $28,700 in grants to 27 emergency service organizations.
The Mortgage Bankers Association estimates 2.7 million homeowners nationwide are in forbearance plans.
While community bankers’ overall outlook on the economy has improved since the start of the pandemic, profitability and regulatory burden remain concerns for more than half of bankers.
The Jewett City Savings Bank Foundation has awarded a total of $8,500 to support five health services organizations.
The next round of Paycheck Protection Program loans will begin on Monday, though not all lenders will have access to the program right away.
Delinquency rates for American mortgages backed by commercial and multifamily properties increased for the second month in a row in December