Banking and Lending
US retail sales dip 0.3 Percent in September
By The Associated Press | October 16, 2019 | Reprints | Unlock LinkRetail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and turbulent markets are having an impact on consumer spending.
Liberty Bank Completes Purchase of Simsbury Bank & Trust
October 15, 2019 | Reprints | Unlock LinkConnecticut’s oldest bank has finished its acquisition of the $480 million-asset Simsbury Bank & Trust Co.
State Revokes Troubled Mortgage Lender’s License
By James Sanna | October 15, 2019 | Reprints | Unlock LinkAn East Hartford-based mortgage lender has had its license to operate revoked by the state Department of Banks following an investigation into charges it was using unlicensed personnel to originate residential mortgages and the loss of its surety bond.
Study: Customer Reviews Still Influential in Picking Financial Products
October 15, 2019 | Reprints | Unlock LinkAccording to a recent consumer study commissioned by fintech Kasasa, nearly nine in 10 Americans say positive customer reviews and positive word of mouth reputation would be influential in deciding which financial products to select.
Despite Defections, Facebook Officially Launches Libra
By The Associated Press | October 15, 2019 | Reprints | Unlock LinkFacebook officially moved forward with its plans Monday to create a new digital currency called Libra, despite several high-profile defections from the project and intense criticism from U.S. regulators and politicians.
Fed Approves Rules Loosening Dodd-Frank Restrictions on Small Banks
By The Associated Press | October 11, 2019 | Reprints | Unlock LinkThe Federal Reserve is easing restrictions imposed on small banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump.
Webster Bank’s Kathy Luria Wins National Service Award
October 11, 2019 | Reprints | Unlock LinkThe American Banker’s Association Foundation has named Webster Bank’s Kathy Luria winner of the 2019 George Bailey Distinguished Service Award.
Christina Bodine Aysseh Joins Savings Bank of Danbury
October 10, 2019 | Reprints | Unlock LinkChristina Bodine Aysseh has joined Savings Bank of Danbury as vice president of cash management.
Mortgage Applications Up in Latest MBA Survey
October 9, 2019 | Reprints | Unlock LinkMortgage applications nationwide increased 5.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Oct. 4.
Powell Sees Cooler US Hiring in Possible Hint of Rate Cuts
By The Associated Press | October 9, 2019 | Reprints | Unlock LinkFederal Reserve Chairman Jerome Powell said Tuesday that U.S. job growth since early last year was not as robust as thought, a hint that the Fed may be ready to keep cutting interest rates to support the economy.
Ana Botín Joins Santander Boards
By Diane McLaughlin | October 8, 2019 | Reprints | Unlock LinkSantander Group announced that Ana Botín, executive chairman of Banco Santander, is joining the boards of directors of Santander Holdings USA, Inc. and Santander Bank, N.A.
Fed’s Dilemma: Low Unemployment but Pressure to Do More
By The Associated Press | October 8, 2019 | Reprints | Unlock LinkThough unemployment is low, so are inflation and long-term borrowing rates. Normally, all that would be cause for celebration. But with President Donald Trump’s trade wars slowing growth and overseas economies struggling, Powell faces pressure to keep cutting rates to sustain the U.S. economic expansion.
Lauren Murphy Joins Windsor Federal
By The Commercial Record | October 7, 2019 | Reprints | Unlock LinkWindsor Federal has named Lauren Murphy senior vice president – chief financial officer and treasurer.
Business Economists Foresee Slowdown in US Growth
By The Associated Press | October 7, 2019 | Reprints | Unlock LinkThe nation’s business economists think President Donald Trump’s trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
Chase Opens First Location in 10-Branch Hartford-Area Plan
By Diane McLaughlin | October 4, 2019 | Reprints | Unlock LinkChase Bank held a grand opening celebration at its first branch in the Hartford area on Thursday, part of six to 10 new branches planned for the region in the next few years. These new locations join more than 40 other Chase branches in Connecticut.
Man Pleads Guilty in Bank Fraud Scheme
By The Associated Press | October 4, 2019 | Reprints | Unlock LinkA Waterbury man who police say participated in a counterfeit check bank fraud ring has pleaded guilty.
US Adds Modest 136,000 Jobs, Unemployment Drops to 3.5 Percent
By The Associated Press | October 4, 2019 | Reprints | Unlock LinkU.S. employers added a modest 136,000 jobs in September, enough to help lower the unemployment rate to a new five-decade low of 3.5 percent.
Stamford Apartment Tower Gets $97.5M Construction Loan
By Steve Adams | Commercial Record Staff | October 3, 2019 | Reprints | Unlock LinkA $97.5 million floating rate construction loan from Bank OZK will finance development of a 26-story apartment complex in downtown Stamford.
Bridgeport Woman Receives 18-month Sentence for Bank Robberies
By The Commercial Record | October 3, 2019 | Reprints | Unlock LinkA Bridgeport woman will serve 18 months in prison for robbing two Chase Banks in Bridgeport in 2017.
CBA’s New Chair Looks to Tackle Privacy, Cannabis Laws
By Diane McLaughlin | October 3, 2019 | Reprints | Unlock LinkCynthia Merkle joined the Connecticut banking world only six and a half years ago, but she’s already had some notable accomplishments as Union Savings Bank’s first woman president and CEO. Last month, she became the first woman chair in the 120-year history of the Connecticut Bankers Association.
