Banking and Lending
A Divided Fed Reduces Rates But May Not Cut Again This Year
By The Associated Press | September 19, 2019 | ReprintsA sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year.
People’s United Expands Commercial ABL Operations
By Diane McLaughlin | September 19, 2019 | ReprintsPeople’s United Bank has named Patrick Lee head of a newly formed lender finance team, an extension of the bank’s existing asset-based lending group. The move expands People’s United’s commercial specialty lending business.
New Haven Bank Robber Gets Five Years
September 18, 2019 | Reprints | Unlock Link
A convicted New Haven bank robber will serve over five years in prison for stealing more than $10,000 from two area banks.
People’s United Grows Deposit Share Following Farmington Merger
By Diane McLaughlin | September 17, 2019 | Reprints | Unlock LinkFollowing last year’s acquisition of Farmington Bank, Bridgeport-based People’s United Bank has seen its deposit share grow, vaulting it into second place statewide.
Manufacturers, Retailers Less Optimistic, Survey Says
By The Associated Press | September 16, 2019 | Reprints | Unlock LinkSmall manufacturers and retailers are losing confidence in the national economy yet remain upbeat about their own prospects.
CT Banks’ Income Up, Headcount Down Year-Over-Year
By James Sanna | September 12, 2019 | Reprints | Unlock LinkConnecticut’s FDIC-insured banks saw their year-to-date net income surge in the first two quarters of 2019 on a year-over-year basis, while the total number of full-time-equivalent employees in the industry dropped slightly.
Who Has the Worst Traffic: Hartford, New Haven or Stamford?
September 12, 2019 | Reprints | Unlock LinkA nationwide study by Texas A&M University shows which of Connecticut’s three major metro areas has the worst traffic, and why.
Fed’s Real-Time Payment System Leaves Community Banks in a Bind
By James Sanna | September 12, 2019 | Reprints | Unlock LinkWith access to a real-time payments system an important selling point for some business customers, Connecticut’ community banks find themselves at a fork in the road following the Federal Reserve’s decision to launch its own payments network.
Report: New Haven Citizens Bank Robbed
September 11, 2019 | Reprints | Unlock LinkPolice are on the lookout for a bank robber in New Haven.
Mnuchin: Gov’t. Support Still Needed to Keep Mortgage Rates Low
By The Associated Press | September 11, 2019 | Reprints | Unlock LinkTrump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income homeowners.
How Much Do Trump Tweets Swing the Market? Check the Volfefe Index
By The Associated Press | September 11, 2019 | Reprints | Unlock LinkFinancial markets have become so in thrall to President Donald Trump’s tweets that JPMorgan has created an index to help identify how much volatility they’re creating.
Two CT Banks Featured in New ABA Recruitment Campaign
September 10, 2019 | Reprints | Unlock LinkTwo Connecticut banks are the faces of the American Bankers Association’s new series of videos highlighting the diverse and rewarding career opportunities available in banking today.
Officials to Defend Plan to End Gov’t. Control of Fannie, Freddie
By The Associated Press | September 10, 2019 | Reprints | Unlock LinkTrump administration officials are going before Congress to defend their plan for ending government control of Fannie Mae and Freddie Mac.
US Job Openings Fell 0.4 Percent in July
By The Associated Press | September 10, 2019 | Reprints | Unlock LinkThe number of open U.S. jobs slipped 0.4 percent in July, while hires climbed slightly, a sign that some employers may be growing cautious amid rising economic uncertainty.
CT Business’ Confidence Takes Dive Amid Trade Wars
September 9, 2019 | Reprints | Unlock LinkConnecticut business leaders are pessimistic about the future of the state and national and state economies despite strong growth over the last year, according to a new survey from the Connecticut Business and Industry Association.
Treasury Unveils Plan to Privatize Fannie Mae, Freddie Mac
By The Associated Press | September 6, 2019 | Reprints | Unlock LinkThe Trump administration has unveiled its plan for ending government control of Fannie Mae and Freddie Mac, the two giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at a total cost to taxpayers of $187 billion.
US Added Modest 130K Jobs in August Amid Trade War
By The Associated Press | September 6, 2019 | Reprints | Unlock LinkU.S. employers added a modest 130,000 jobs in August, a sign that hiring in the United States has slowed but remains durable in the face of global economic weakness and President Donald Trump’s trade war with China.
Report: Highway Billboards Latest Front in Anti-Toll Push
September 5, 2019 | Reprints | Unlock LinkGov. Ned Lamont may be ripping up his so-far-failed approach to reform Connecticut’s transportation system, but a political lobby group is trying to make sure tolls aren’t a part of the governor’s transportation plan 2.0.
Ohio Woman Pleads Guilty to ATM Skimming in Fairfield County
By The Associated Press | September 3, 2019 | Reprints | Unlock LinkAn Ohio woman has pleaded guilty in federal court to using skimming equipment on ATMs to read customers’ card numbers, including some in Connecticut.
Federal Grand Jury Indicts Woman in Capital One Data Breach
By The Associated Press | August 30, 2019 | Reprints | Unlock LinkA former Amazon software engineer arrested last month on charges she hacked into Capital One bank and more than 30 different companies has been indicted by a federal grand jury on charges she not only broke into the company’s computer system, but also stole computing power for her own benefit.
