Banking and Lending
North Haven Businessman Gets Prison for Fencing Scheme
A 49-year-old North Haven man was sentenced to 54 months in prison for his role in a large-scale scheme to resell stolen merchandise.
Blackjack Dealer Avoids Prison for Collusion With Gambler
A former blackjack dealer at a Connecticut casino who helped a gambler cheat the facility out of more than $78,000 has avoided prison.
Former College Employee Pleads Guilty to Embezzlement
A former employee at Connecticut College pled guilty this week to embezzling $173,010 in a scheme that spanned from 2014 to last April.
Eagle Point Credit Posts Third-Quarter Earnings
Eagle Point Credit Co. on Wednesday reported profit of $11.2 million in its third quarter.
First County Bank Awards Nearly $100K to Area Nonprofits
Stamford-based First County Bank Foundation awarded nearly $100,000 to Darien- and Norwalk-based nonprofits providing support for at-risk residents.
Two SVPs Move from Farmington to Ion
Two senior vice presidents, both former employees of Farmington Bank, have been hired by Naugatuck-based Ion Bank in the cash management and commercial lending departments.
Survey: Americans Have Favorable View of Online and Mobile Banking
A high majority of Americans are very pleased with their online and mobile banking experiences.
A Credit Union for Farmers
A group of local stakeholders is launching the first credit union in the country to lend exclusively to farmers and food entrepreneurs. Maine Harvest Credit Union is seeking a state charter in order to provide specialized loans and mortgages to boost Maine’s growing agricultural economy, which consists of over 8,000 farms, $3.8 billion in sales and 24,000 jobs.
New Dollar General Store to Be Built in Morris
Financing has been secured for the construction of a new Dollar General Store in Morris.
CBIA Elects New Board of Directors
The state’s largest business lobbying group has elected a new board of directors.
Global Changes Cause Problems for Local Recycling Programs
Connecticut recycling operations are struggling to cope with increasing financial pressures involving plunging prices for recycled materials, higher trucking costs, growing difficulties sorting trash and worries about President Donald Trump’s tariff wars.
Study Finds Veteran-Owned Small Businesses Experience Financing Challenges
Despite similar demand for financing, veteran-owned small business applicants were more likely than non-veteran-owned small business applicants to experience “financing shortfalls,” where they received less than the amount of credit they sought.
Prospect Man Sentenced to Prison Time for Role in Bribery Scheme
Michael Uszakiewicz, 52, of Prospect, was sentenced last week by U.S. District Judge Alvin W. Thompson in Hartford to 16 months of imprisonment, followed by one year of supervised release, for his role in a bribery scheme.
Nutmeg State Financial CU Board Chairman Elected to National Group
The chairman of the board of directors at Rocky Hill-based Nutmeg State Financial Credit Union is now on the board of directors of the National Association of Credit Union Chairmen.
Two Promoted at Windsor Federal Savings Bank
Two have been promoted to assistant vice president at Windsor Federal Savings Bank.
SURVEY: FIs Looking Into CECL, but Still Uncertain on Implementation
The majority of community banks and credit unions in Southern New England have started planning their adoption of the new Current Expected Credit Loss accounting method, but most have yet to identify exactly how they will implement this new standard.
CT Department of Banking Fines Broker
The Connecticut Department of Banking has issued a $3,500 fine to a broker for not being registered in the state.
Cigna to Unveil New Pregnancy App in 2019
Global health service company Cigna has launched a new pregancy app.
CU Trade Groups Optimistic About Midterm Results
The regulatory relief party may be over in Congress, but credit union trade groups do not seem terribly upset about the results of midterms.
Nationwide Group of Community and Regional Banks Team Up to Explore Fintech
Reading Cooperative Bank is teaming up with 12 U.S. community and regional banks to form a partnership that will explore opportunities with emerging fintech companies.
