Banking and Lending
Jewett City Savings Bank Donates on Behalf of Retired CEO, Chair
May 16, 2022 | ReprintsJewett City Savings Bank’s charitable foundation recently awarded grants on behalf of Kevin Merchant, the bank’s recently retired president and CEO, and Louis J. Demicco Jr., the former board chair.
J.D. Power: Customer Service Drives Online-Only Account Satisfaction
May 16, 2022 | ReprintsDespite the self-service nature of online-only checking and savings accounts, access to customer service channels, including phone and email, helped drive satisfaction with these direct bank accounts, according to a new study from J.D. Power.
Buttigieg Sends $5B to Cities for Safety as Road Deaths Soar
By Hope Yen | The Associated Press | May 16, 2022 | ReprintsWith upcoming data showing traffic deaths soaring, the Biden administration is steering $5 billion in federal aid to cities and localities to address the growing crisis by slowing down cars, carving out bike paths and wider sidewalks and nudging commuters to public transit.
M&T Bank Names Two Regional Presidents
May 13, 2022 | Reprints | Unlock Link
Six weeks after completing its acquisition of Bridgeport-based People’s United Bank, M&T Bank has named two regional presidents for the Connecticut market, both from within M&T.
Webster Bank Partners With HOA Software Company
May 13, 2022 | Reprints | Unlock LinkStamford-based Webster Bank will offer banking services to property management firms and homeowners associations through a new partnership with a financial technology company.
Despite Rate Hikes, U.S. Homebuyers Show ‘Resiliency’
By James Sanna | May 12, 2022 | Reprints | Unlock LinkEven as mortgage interest rates hit levels not seen since the fall of 2009, early indications show America’s prospective homebuyers appear to be adapting, not quitting the market.
Report: 60 Percent of U.S. Credit Unions Face Climate Risks
By Diane McLaughlin | May 12, 2022 | Reprints | Unlock LinkMore than 60 percent of U.S. credit unions could face physical risks from the effects of climate change, according to a new report from Ceres and the Filene Research Institute.
Two from CT Join NEPPC Advisory Board
May 11, 2022 | Reprints | Unlock LinkThe Federal Reserve Bank of Boston has named five new members to the advisory board of the New England Public Policy Center, including two from Connecticut.
US Inflation Might Have Dipped Last Month From 40-Year High
By The Associated Press | May 11, 2022 | Reprints | Unlock LinkAfter a year of soaring prices for gas, food and other necessities, inflation may have eased slightly in April from a 40-year high, the first slowdown after seven consecutive months of worsening price increases.
Renee Rovelli Joins Savings Bank of Danbury
May 10, 2022 | Reprints | Unlock LinkSavings Bank of Danbury has hired Renee Rovelli as vice president of commercial lending.
Bergstrom Named CIC Chair
May 9, 2022 | Reprints | Unlock LinkWebster Bank’s Timothy Bergstrom has been appointed board chair of the Community Investment Corp.
CT Launches Mortgage Relief Program
May 9, 2022 | Reprints | Unlock LinkAs concerns about a recession caused by interest rate hikes rise, Gov. Ned Lamont’s office announced a new relief program for homeowners struggling with their mortgages.
Patriot Bank Sees Benefits from Debit Card Program
May 6, 2022 | Reprints | Unlock LinkStamford-based Patriot Bank continues to see a positive impact on its financial results from a pre-paid debit card program the bank acquired nearly two years ago.
All Three Bank Regulators Pledge to Update CRA for a New Era
By Ken Sweet | The Associated Press | May 6, 2022 | Reprints | Unlock LinkThe three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches.
Fieldpoint Private Launches Trust Company
May 5, 2022 | Reprints | Unlock LinkGreenwich-based Fieldpoint Private has launched a full-service trust company, Fieldpoint Private Trust. The bank said in a statement that the new company was formed in response to “widespread demand from clients, advisors, bankers and others.”
CFPB Fines BofA Over Garnishment Practices
May 5, 2022 | Reprints | Unlock LinkThe Consumer Financial Protection Bureau has fined Bank of America $10 million for processing what the agency said were illegal, out-of-state garnishment orders against its customers’ bank accounts.
JPMorgan Chase Invests $400K in Fairfield County Housing Initiative
May 4, 2022 | Reprints | Unlock LinkJPMorgan Chase has invested $400,000 in Fairfield County’s Community Foundation as part of an ongoing partnership to advance racial equity and housing stability in Fairfield County.
Connecticut House Approves $26K Pay Raise for Lawmakers
By The Associated Press | The Associated Press | May 4, 2022 | Reprints | Unlock LinkConnecticut’s General Assembly voted Tuesday to give lawmakers and the state’s constitutional officers their first pay raises in more than two decades.
Connecticut Senate Sends Budget With Tax Cuts to Governor
By Susan Haigh | The Associated Press | May 4, 2022 | Reprints | Unlock LinkThe Connecticut Senate sent a revised, one-year $24.2 billion state budget to Democratic Gov. Ned Lamont’s desk on Tuesday night that Democrats lauded as historic but Republicans derided as falling short for the taxpayers.
World Shares Slip Ahead of Fed Interest Rate Decision
By Elaine Kurtenbach | The Associated Press | May 4, 2022 | Reprints | Unlock LinkWorld shares were mostly lower on Wednesday as investors waited for a decision by the Federal Reserve on interest rates.
Advertisement
