Banking and Lending
Mobile Money in China: Disruption at Scale
In about 10 years’ time, a completely new payment model built around QR codes has become the dominant payment alternative for the world’s most populous country – China.
Ten Years After Financial Crisis, CT Banking ‘Better than Ever’
Ten years after the collapse of Lehman Brothers and the beginning of the financial crisis, the banking industry in Connecticut has changed dramatically.
East Hartford Mortgage Lender to Terminate Expansion and Begin Layoffs
An East Hartford-based national mortgage lender is terminating a planned expansion of its Connecticut headquarters and laying off up to 35 employees after a dispute with state banking regulators.
Savings Institute Employees Donate to Treatment of Substance Abuse and Mental Illness
Employees from Savings Institute Bank & Trust of Willimantic selected causes to donate to from their employee-funded Caring and Giving Program.
Citigroup Hires Three Software Investment Bankers
Citigroup Inc. has hired three investment bankers for its technology investment banking group focused on software in the United States and in Europe, according to a memo published internally at the bank and confirmed by a spokeswoman on Monday.
First County’s Giallongo to Retire Next Year
First County Bank of Stamford recently announced chairman and CEO Reyno A. Giallongo will retire in August 2019. Giallongo has been chairman and CEO for seven years.
How JPMorgan’s CFO Became the Top Prospect to Succeed Dimon
As a single mother with a British accent who loves numbers, Marianne Lake bears little resemblance to Jamie Dimon, the longtime CEO of JPMorgan Chase & Co., known for his bravado, quips and occasional profanity-laced outbursts.
Aer Lingus Will Stay at Bradley International Airport for Four More Years
Aer Lingus service at Bradley International Airport will continue for at least four more years under a new agreement made with the state. The airline will also place one of its first four A321neoLR on the Bradley to Dublin route, a new and more spacious aircraft.
Milford Bank Promotes for New Executive Vice President
Jorge Santiago has been promoted at The Milford Bank to executive vice president. Santiago previously was vice president and branch administrator, starting his career at the bank in 2005.
Woman Sentenced for Crime Spree, Robbing Bank Dressed as a Nun
A Connecticut woman is headed to prison for her role in a monthlong crime spree in New Jersey and Pennsylvania, including an attempted bank robbery in which she and another woman dressed as nuns.
Goldman Names New Operating Chief, Finance Head in Executive Shakeup
Goldman Sachs Group Inc. on Thursday announced its biggest management shakeup since naming David Solomon as CEO Lloyd Blankfein’s successor.
Bank Manager Admits Embezzling $879K from CD Accounts
Stephen Carbonella, 59, of Hamden, plead guilty yesterday in Hartford federal court to embezzling funds from his employer, Webster Bank Corporation, where he served as bank manager of the Orange branch office.
Torrington Savings Bank Appoints New Vice Chairman
Charles E. Roraback has been appointed vice chairman of the Torrington Savings Bank board of trustees. He has been a corporator of Torrington Savings Bank since July 1997 and joined the board in February 2007.
JPMorgan Looks Abroad as It Commits $500M More to Urban Renewal
JPMorgan Chase & Co. will provide $500 million over five years to promote economic opportunities in selected cities, including some outside the United States, the bank said Wednesday.
Banks’ Readiness for B2B Real-Time Payments
Banks hesitate to make a large technology investment to accommodate a new payment workstream without fully understanding the market demand and having a realistic expectation for adoption.
Payrailz Lands Major Credit Union Partnership
Glastonbury-based fintech Payrailz has formed a major partnership with a top 20 credit union in the country.
Darien Sees Biggest Household Credit Card Debt Increase in Country for Q2
American consumers racked up $29.8 billion in credit card debt in the second quarter of this year, according to WalletHub’s new Credit Card Debt Study.
Goldman Banker Had Raised Ethics Concerns
A former Goldman Sachs Group Inc. partner had raised concerns about some unethical practices at the bank before he left in 2015, the New York Times reported on Tuesday, citing people close to the matter.
Seven Stars Cloud/Ideanomics Hires New Co-CEO and Adds to Senior Management
West Hartford-bound Seven Stars Cloud, which will soon change its name to Ideanomics, has hired a new co-CEO.
Poll: Many Community Banks Lack CECL Task Force
Nearly half of community banks in the U.S. have not formed a task force for implementing current expected credit loss accounting standards, which is expected to take effect in just two years.
