Industry News
CBIA Elects New Board of Directors
The state’s largest business lobbying group has elected a new board of directors.
Global Changes Cause Problems for Local Recycling Programs
Connecticut recycling operations are struggling to cope with increasing financial pressures involving plunging prices for recycled materials, higher trucking costs, growing difficulties sorting trash and worries about President Donald Trump’s tariff wars.
Study Finds Veteran-Owned Small Businesses Experience Financing Challenges
Despite similar demand for financing, veteran-owned small business applicants were more likely than non-veteran-owned small business applicants to experience “financing shortfalls,” where they received less than the amount of credit they sought.
Prospect Man Sentenced to Prison Time for Role in Bribery Scheme
Michael Uszakiewicz, 52, of Prospect, was sentenced last week by U.S. District Judge Alvin W. Thompson in Hartford to 16 months of imprisonment, followed by one year of supervised release, for his role in a bribery scheme.
Head of Connecticut’s Child Welfare Agency to Step Down
The head of Connecticut’s child welfare agency has announced that she is stepping down in January.
Nutmeg State Financial CU Board Chairman Elected to National Group
The chairman of the board of directors at Rocky Hill-based Nutmeg State Financial Credit Union is now on the board of directors of the National Association of Credit Union Chairmen.
Two Promoted at Windsor Federal Savings Bank
Two have been promoted to assistant vice president at Windsor Federal Savings Bank.
Feds Indict Five For Taxpayer-Funded Junkets
A federal grand jury in New Haven indicted five officials from the Connecticut Municipal Electric Energy Corp. with theft of funds related to a series of lavish taxpayer-funded junkets.
Convention Center Seeks To Stay Competitive With Casinos
The Capital Region Development Authority is seeking a consultant to help the Connecticut Convention Center stay competitive amid rising competition.
Merritt 7 Recognized for Environmental Sustainability
Fairfield County’s large office park has been recognized by a landscaping group for its environmentally sustainable practices.
SURVEY: FIs Looking Into CECL, but Still Uncertain on Implementation
The majority of community banks and credit unions in Southern New England have started planning their adoption of the new Current Expected Credit Loss accounting method, but most have yet to identify exactly how they will implement this new standard.
Starwood Earnings Meet Wall Street Outlook
Starwood Property Trust Inc. (STWD) on Friday reported third-quarter net income of $84.5 million.
CT Department of Banking Fines Broker
The Connecticut Department of Banking has issued a $3,500 fine to a broker for not being registered in the state.
Longtime Fairfield Jewelry Store to Close
The longtime Fairfield jewelry story J. Albert Johnson Jewelers is going out of business. In a Facebook post, owners David and Judy Kiselstein stated they will retire and close the business.
Cigna to Unveil New Pregnancy App in 2019
Global health service company Cigna has launched a new pregancy app.
CU Trade Groups Optimistic About Midterm Results
The regulatory relief party may be over in Congress, but credit union trade groups do not seem terribly upset about the results of midterms.
Nationwide Group of Community and Regional Banks Team Up to Explore Fintech
Reading Cooperative Bank is teaming up with 12 U.S. community and regional banks to form a partnership that will explore opportunities with emerging fintech companies.
FSBOs Are Fizzling
What’s been happening to that good old-fashioned American way to sell your home – doing it yourself, with minimal or no commission costs?
An Aggressive Approach to Passive House Design
Elizabeth Post-Marner designs corporate interiors to help companies maximize their efficiency, but on the home front she’s finding ways to squeeze the most efficiencies out of energy consumption. The longtime Westchester County resident is using Passive House strategies to design a new home in Stamford for her own family.
People’s United to Close Former Farmington Bank Branches
People’s United is planning to close 15 branches, most of which were recently acquired from Farmington Bank.
