Banking and Lending
Utah-based M3 Funds, an investment management firm focused on the United States bank and thrift sector, has taken a 5.13 percent stake in Putnam Bank, according to a recent regulatory filing.
As the price of Bitcoin sky rockets, credit unions are plunging deeper into the world of crypto-currencies, with the belief that investing in the block chain technology may pay off in the long run.
Shares of LendingClub continued to perform poorly yesterday, falling more than 22 percent and reaching $3.29 at one point, an all time low for the online lender, according to Reuters.
The biggest winners in the Senate’s proposed Dodd-Frank relief bill would be banks that have not yet crossed the $50 billion threshold, and not yet incurred the additional compliance costs that accompany that threshold.
Payrailz, a Glastonbury-based digital payments company offering advanced bill payment and money transfer solutions to banks and credit unions, has raked in $6.1 million from a group of investors including Webster Bank, the company announced earlier this week.
State-chartered banks in Connecticut through the first nine months of 2017 saw healthy increases in collective net income, while also growing total assets, according to FDIC data.
The state’s economic condition and burdensome regulation has many community bankers worried in Connecticut, while these same bankers see fintech as a potential partnership opportunity that is key to growth.
The 30-year fixed mortgage rate fell two basis points to 3.9 percent in this week’s survey.
The state of Connecticut has seen its fair share of troubles over the past year, and the banking industry has not been immune, dealing with slow economic growth that has made companies and residents flee the state for opportunities elsewhere.
A woman has been arrested after police say she embezzled thousands of dollars from a Connecticut parent teacher organization while she served as treasurer.
The outcome of the OPEC meeting in Vienna later this week is uncertain given current crude prices and a lack of consensus on an output cut extension deal, Goldman Sachs said on Monday.
Before leaving the Consumer Financial Protection Bureau Friday, Richard Cordray added one final twist in an effort to slow attempts to reel in the agency’s authority.
William H.W. Crawford, IV, CEO of United Financial Bancorp, the parent company of United Bank, is now also president of the company, according to a regulatory filing last week.
The Consumer Financial Protection Bureau is preparing to sue Santander Bank, alleging that the Spanish bank overcharged borrowers on auto loans, two sources familiar with the plans said on Friday.
Community banks had another strong quarter, but the majority of the 5,294 community banks in the U.S. saw declines in noninterest income as the pace of loan growth slowed.
Coldwell Banker Residential Brokerage in Connecticut announced that it has partnered with Guaranteed Rate Affinity LLC to include an additional mortgage service offering for its affiliated sales agents and their customers.
Months after the world learned that the data of potentially 150 million Americans had been compromised, the fallout from the Equifax data breach is still reverberating throughout the financial services industry.
The Senate Appropriations Committee Monday released the chairman’s draft on the fiscal year 2018 financial services and general government appropriations bill, including full funding for the Community Development Financial Institutions Fund, which oversees the New Markets Tax Credit Program.
Gerald D. Coia, senior vice president and chief credit officer of Savings Institute Bank & Trust Co., will retire at the end of the year. He will be succeeded by Paul R. Little, currently senior vice president and chief lending officer. Kenneth Martin, currently vice president and Rhode Island market executive, has been named chief lending officer.
Only 11 percent of CFOs at financial institutions under $10 billion in assets believe they are prepared for the transition to the new current expected credit loss accounting standard, according to a recent study.
Banking & Lending Top Block
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