Banking and Lending
Connecticut Attorney General William Tong is among 21 state attorneys general that have sent a letter to the Consumer Financial Protection Bureau, urging the agency not to adopt recently proposed policies, that they say would erode critical consumer protections.
A federal lawsuit filed yesterday is alleging that female tenants and applicants of residential rental properties in and around New London were subjected to sexual harassment, coercion, intimidation and threats, in violation of the federal Fair Housing Act.
SI Financial Group, the parent company of Willimantic-based Savings Institute Bank and Trust, disclosed yesterday that it is being sued in Baltimore County Circuit Court for breaching its fiduciary duties to its stockholders in connection with its impending acquisition by the parent company of Boston-based Berkshire Bank.
Despite a bad loan and problems with federal regulators, the parent company of Stamford-based Patriot Bank managed to have a profitable fourth quarter of 2018.
A Middletown man was sentenced yesterday in New Haven federal court to 46 months of imprisonment, followed by three years of supervised release, for embezzling more than $500,000 from his former employer, and stealing nearly $400,000 from his brother to pay back his employer.
A sign of Connecticut’s strengthening state economy, the Connecticut Airport Authority announced that Hartford’s Bradley International Airport saw passenger traffic grow by 3.6 percent in 2018.
The U.S. economy slowed in the final three months of last year to an annual growth rate of 2.6 percent, the slowest pace since the beginning of 2018, as the government shutdown and other factors took a toll on growth. Economists believe growth has slowed even more in the current quarter.
Hometown Financial Group continues to shop aggressively as it announced today that it will merge with and absorb Millbury Savings Bank into its subsidiary, Oxford-based bankHometown.
The West Hartford-bound fintech firm Ideanomics is purchasing various assets of SolidOpinion, Inc. including the company’s CommentsRadar technology and the supporting development team.
The growth in the third quarter, while not spectacular, leaves Connecticut on pace with the nation – which came in at a 3.4 percent growth rate – and in the top half of states, at No. 21 for the quarter.
American Eagle Financial Credit Union is seeking to expand its services into Massachusetts.
The owner of a West Haven trucking company pleaded guilty to filing false tax returns.
The release of Connecticut Gov. Ned Lamont’s first proposed two-year state budget has set the stage for months of negotiations on potentially hot-button topics.
Despite reported issues with former longtime President and CEO Michael Daly, who resigned last November, the board of directors at Berkshire Bank and its parent company seems to have confidence in the company’s executive team.
Roughly half the nation’s business economists say they think the U.S. economy will slip into recession by the end of next year, and three-fourths envision such a downturn beginning by the end of 2021.
The leader of a nonprofit developer of affordable housing will be the state’s next housing commissioner, according to The Connecticut Mirror.
Berkshire Bank has received approval to close four of its branches in upstate New York, according to a recent activity report from the Massachusetts Division of Banks.
Forty million Americans expect to miss a credit card payment this year.
Connecticut’s new governor, Democrat Ned Lamont, offered a budget plan Wednesday that modernizes the state’s sales tax base by imposing the 6.35 percent levy on a long list of goods and services.
A proposal to establish a state-run infrastructure bank is sparking widespread debate among lawmakers, trade groups and other stakeholders trying to determine the best course for Connecticut’s struggling economy.