Banking and Lending
Essex Savings Bank’s longtime leader, Gregory Shook, will retire this summer, and Diane Arnold will take over as president and CEO.
While 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.
The 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.
The 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.
With 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.
In a little-known civil action, the Consumer Financial Protection Bureau is investigating the real estate affiliate of Quicken Loans for allegedly illegal kickbacks.
The Torrington Savings Bank’s charitable foundation has awarded more than $100,000 in grants during their annual fall grant cycle.
Synchrony CEO Margaret Keane will step down in April after 10 years leading the Stamford-based financial company.
The Jewett City Savings Bank Foundation has awarded $28,700 in grants to 27 emergency service organizations.
The Mortgage Bankers Association estimates 2.7 million homeowners nationwide are in forbearance plans.
While 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.
The Jewett City Savings Bank Foundation has awarded a total of $8,500 to support five health services organizations.
The next round of Paycheck Protection Program loans will begin on Monday, though not all lenders will have access to the program right away.
Delinquency rates for American mortgages backed by commercial and multifamily properties increased for the second month in a row in December
With 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 recently promoted David Finnerty and Shalonta Ford to new roles at the bank.
When 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...
Major 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.
Greeted 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
Torrington Savings Bank has hired Bryan Cassidy for its executive team, bringing him on as chief information officer and senior vice president.