Banking and Lending
Diane Arnold Named Essex Savings’ Next Leader
January 15, 2021 | Reprints | Unlock Link
Essex Savings Bank’s longtime leader, Gregory Shook, will retire this summer, and Diane Arnold will take over as president and CEO.
Record Earnings for JPMorgan Chase Thanks to Reserve Release
January 15, 2021 | Reprints | Unlock LinkWhile 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.
PPP Reopens Tomorrow to Most Lenders
January 14, 2021 | Reprints | Unlock LinkThe 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.
Brooks Steps Down from OCC, Finalizes Lending Rule
January 14, 2021 | Reprints | Unlock LinkThe 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.
Lenders Expect Less Chaos as PPP Resumes
By Diane McLaughlin | January 14, 2021 | Reprints | Unlock LinkWith 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.
CFPB Investigating Quicken’s Real Estate Affiliate
By Lew Sichelman | January 14, 2021 | Reprints | Unlock LinkIn a little-known civil action, the Consumer Financial Protection Bureau is investigating the real estate affiliate of Quicken Loans for allegedly illegal kickbacks.
Torrington Savings Bank Awards $100K in Grants
January 13, 2021 | Reprints | Unlock LinkThe Torrington Savings Bank’s charitable foundation has awarded more than $100,000 in grants during their annual fall grant cycle.
Keane to Step Down as Synchrony CEO
January 12, 2021 | Reprints | Unlock LinkSynchrony CEO Margaret Keane will step down in April after 10 years leading the Stamford-based financial company.
JCSB Foundation Donates $28K to 27 Service Organizations
January 12, 2021 | Reprints | Unlock LinkThe Jewett City Savings Bank Foundation has awarded $28,700 in grants to 27 emergency service organizations.
MBA Reports Drop in Loans in Forbearance
January 12, 2021 | Reprints | Unlock LinkThe Mortgage Bankers Association estimates 2.7 million homeowners nationwide are in forbearance plans.
Survey Shows Community Banks Concerned about Regulations
By Diane McLaughlin | January 11, 2021 | Reprints | Unlock LinkWhile 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.
Jewett City Savings Bank Gives $8.5K to Health Organizations
January 11, 2021 | Reprints | Unlock LinkThe Jewett City Savings Bank Foundation has awarded a total of $8,500 to support five health services organizations.
Some Lenders Can Resume PPP on Monday
January 8, 2021 | Reprints | Unlock LinkThe next round of Paycheck Protection Program loans will begin on Monday, though not all lenders will have access to the program right away.
Commercial, Multifamily Delinquencies Up for Second Month
January 8, 2021 | Reprints | Unlock LinkDelinquency rates for American mortgages backed by commercial and multifamily properties increased for the second month in a row in December
Survey: More Small Businesses Considering Online Lending
January 8, 2021 | Reprints | Unlock LinkWith economic uncertainty as their top challenge, more than half of small businesses would consider taking an online loan if they need capital this year, according to a new survey from JPMorgan Chase.
Guilford Savings Bank Promotes Finnerty, Ford
January 8, 2021 | Reprints | Unlock LinkGuilford Savings Bank recently promoted David Finnerty and Shalonta Ford to new roles at the bank.
Two Sets of Rules for Latest PPP Funding
By Diane McLaughlin | January 7, 2021 | Reprints | Unlock LinkWhen the next round of Paycheck Protection funding begins, lenders will have separate rules to follow based on whether a business owner received a PPP loan last year. The U.S. Small Business Administration Wednesday night released two interim final rules regarding the...
Real Estate, Banking Industries Respond to Capitol Siege
By James Sanna | January 7, 2021 | Reprints | Unlock LinkMajor figures in the banking and commercial and residential real estate industries roundly condemned Wednesday’s attack on the U.S. Capitol Building by supporters of President Donald Trump aimed at halting Congress’ ceremonial affirmation of the 2020 election results.
CT Lawmakers Greeted by Protests at Start of Unusual Session
By The Associated Press | January 7, 2021 | Reprints | Unlock LinkGreeted by hundreds of protesters waving signs, some chanting “you work for us,” Connecticut lawmakers on Wednesday officially convened what will be a highly unusual and possibly contentious legislative session
Bryan Cassidy Joins Torrington Savings Bank
January 6, 2021 | Reprints | Unlock LinkTorrington Savings Bank has hired Bryan Cassidy for its executive team, bringing him on as chief information officer and senior vice president.
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