Industry News

Goldman Banker Had Raised Ethics Concerns

A former Goldman Sachs Group Inc. partner had raised concerns about some unethical practices at the bank before he left in 2015, the New York Times reported on Tuesday, citing people close to the matter.

Poll: Many Community Banks Lack CECL Task Force

Nearly half of community banks in the U.S. have not formed a task force for implementing current expected credit loss accounting standards, which is expected to take effect in just two years.

Greater Hartford Retail Vacancies Drop

Greater Hartford Retail Vacancies Drop

Retail vacancies in Greater Hartford declined for the first time in three years because of a limited development pipeline and conversion of some properties to other uses, according to an industry report.

U.S. Probing Wells Fargo’s Wholesale Banking Unit

The U.S. Justice Department is probing whether employees committed fraud in Wells Fargo & Co.’s wholesale banking unit, following revelations that employees improperly altered customer information, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Windsor Fintech Acquires Data Company

Windsor Fintech Acquires Data Company

A Windsor-based fintech has snatched up a leading financial technology provider for the global banking, deal making and capital market communities.

Glastonbury Man Sentenced to Prison for Kickback Scheme

Javed Choudhry, 60, of Glastonbury, was sentenced yesterday in U.S. District Court to eight months of imprisonment, followed by four months of home confinement and three years of supervised release, for conspiracy and tax offenses related to a kickback scheme.

West Hartford-Bound Fintech Acquires Influencer Platform

West Hartford-Bound Fintech Acquires Influencer Platform

Just a few weeks, West Hartford-bound Seven Stars Cloud struck a three-year, $24 billion deal with the largest full-service operator for electric buses. Shortly after that, the company announced that it is planning to change its name to Ideanomics. Now, the company has made an acquisition.