Manchester Resident Receives 14 Year Sentence in Fraud Scheme
A Manchester resident who led a $5 million lottery and romance fraud scheme has been sentenced to 14 years in prison.
KeyBank to Use BlueSnap Payments Platform
KeyBank has selected Massachusetts-based financial technology company BlueSnap to provide a global payments platform for the bank’s middle market and institutional clients working in the e-commerce space.
What Taxes Are in Democrats’ Big Bill?
Democrats’ compromise of health care, climate change and deficit-reduction strategies is paid for largely with new corporate taxes, including a 15 percent minimum tax on big corporations to ensure they don’t skip out on paying any taxes at all,
J.D. Power: Mortgage Servicer Transfers Affects Customer Satisfaction
Transferring mortgages from one servicer to another leads to more dissatisfied customers who lack trust in both companies, according to a study from J.D. Power.
Patriot Bank Continues Discussions With American Challenger
The parent company of Patriot Bank continues to discuss a possible deal with American Challenger Development Corp. weeks after the two Stamford-based companies called off their merger.
Rocket Mortgage to Provide Loans to Santander Customers
After discontinuing mortgage lending earlier this year, Santander Bank has formed a partnership with Rocket Mortgage to provide home loans for the bank’s customers.
Strong Jobs Numbers Likely to Encourage More Fed Rate Hikes
Defying anxiety about a possible recession and raging inflation, America’s employers added a stunning 528,000 jobs last month, restoring all the jobs lost in the coronavirus recession.
Brian Falkowski Joins Savings Bank of Danbury
The Savings Bank of Danbury has hired Brian Falkowski as vice president of commercial lending.
Ex-Fed Economist: Central Bank Not Looking Ahead Enough
Bill Nelson has experienced the workings of the Federal Reserve from both sides of the street, including a top position advising the central bank on interest rates.
Total Mortgage Opens 38th Branch
Milford-based Total Mortgage Services has opened a new location in Massachusetts, giving the mortgage company 38 branches nationally.
Inflation Weighs on Families’ Back-to-School Shopping
This back-to-school shopping season, parents – particularly in the low to middle income bracket – are focusing on the basics while also trading down to cheaper stores amid surging inflation.
Scient Federal Credit Union Completes NLMECU Merger
Groton-based Scient Federal Credit Union and New London Municipal Employees Credit Union have completed their merger.
Ion Bank Adds to Board of Directors
As part of its recently completed acquisition of New Jersey-based Lincoln 1st Bank, Ion Bank’s board of directors has appointed David Scelba as a trustee of the bank’s holding company and member of the bank’s board of directors.
Inflation, Wage Data Suggest US Prices Will Keep Climbing
Inflation surged in June and workers’ average wages accelerated in the spring – signs that Americans won’t likely feel any relief from rising prices anytime soon and that the Federal Reserve will feel compelled to further raise borrowing costs. An inflation gauge...
Salisbury Bank Reports Record Loan Growth in Second Quarter
While Lakeville-based Salisbury Bank saw second quarter earnings fall 12 percent year-over-year, the bank reported record loan growth during the quarter.
US Economy Shrinks for a Second Quarter
The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9 percent annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported Thursday in the gross domestic...
Bankwell Sees Record Earnings in Second Quarter
New Canaan-based Bankwell Financial Group Inc. had record earnings in the second quarter, though the bank noted that some nonrecurring items helped push net income higher.
US Not Yet in Recession, and Other Takeaways from the Fed
Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs.
CFPB Head: Bad Actors Should Face More than Fines
Rohit Chopra said his agency plans to deploy an array of tools that could limit the ability of a bank or financial firm to conduct business if they violate the law.
Mortgage Layoffs in CT? Some Firms Not Planning on It
While one of the state’s biggest mortgage lenders is axing nearly 5,000 positions nationwide, others see growth opportunities in the current market.
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