Two Small CT CUs OK’d to Merge
Skyline Financial Federal Credit Union and Curtis Federal Credit Union announced the successful completion of their merger, effective June 30.
Webster Bank Names New Chief Risk Officer
Stamford-based Webster Bank announced a new chief risk officer to replace retiring CRO Daniel Bley.
Gloomy Americans Cut Back on Spending as Inflation Ticks Higher
A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans also cut back on their spending last month.
Fannie, Freddie Ordered to Consider Crypto as Asset When Underwriting Mortgages
The head of the federal government agency that oversees Fannie Mae and Freddie Mac wants the mortgage giants to consider accepting a homebuyer’s cryptocurrency holdings in their criteria for buying mortgages from banks.
Americans Sour on U.S. Economy – and Tariff Anxiety Remains Top Culprit
Americans’ view of the U.S. economy worsened in June, resuming a downward slide that had dragged consumer confidence to its lowest level since the COVID-19 pandemic five years ago.
First County Bank Names Two New Corporators
Stamford-based First County Bank welcomed two new corporators to its board earlier this week.
Fairfield County Bank Donates $5K to CCSU Banking Excellence Program
Fairfield County Bank has partnered with Central Connecticut State University (CCSU) and provided a $5,000 donation for the recently announced Banking Excellence Program partnership.
Ellafi Goes All In for Women
While looking for a niche and need to fill, the former Seasons FCU zeroed in on a historically underserved population – women. Market research and survey responses made it clear that while women are often in charge of finances and financial decisions, they aren’t comfortable with the responsibility. And thus was born Ellafi FCU, with a mission to create economic resilience and empower women to achieve financial independence.
Investor Selling Activity Stays Flat in New England
While investors aren’t purchasing as many single-family homes compared to prior years, they are selling more of these properties.
HELOC Lending Increases in Hartford in Q1
HELOC lending increased 14 percent in the first quarter of the year in the greater Hartford region.
Fed Lifts Restrictions on Wells Fargo’s Growth Seven Years After Fake-Accounts Scandal
The bank operates around two dozen branches in Connecticut, and has $8.17 billion worth of in-state deposits.
PeoplesBank Acquires Naming Rights to Hartford Arena
PeoplesBank has continued to invest in marketing for its Connecticut expansion by acquiring the naming rights to what was formerly the XL Center.
A New Name in Time for a Big Anniversary
Essex Savings Bank is shortening its name to Essex Bank, a change that President and CEO Diane Arnold reflects that the bank has become more than a place for individuals in Connecticut to store their savings.
Chase Plans 14 New Offices for High-End Wealth Management
Chase is expanding its affluent banking offering by opening 14 new J.P. Morgan Private Client “financial center” offices across four states, including New York and Massachusetts.
Consumer Confidence Rebounds After Five Straight Months of Declines
Americans’ views of the economy improved in May after five straight months of declines sent consumer confidence to its lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs.
Senate Passes Bill to Prevent Future ‘Zombie’ Mortgages
An Act Concerning A Study Relating to Banking Issues imposes a 10-year statute of limitations for so-called “zombie mortgages” on one- to four-family dwellings.
Trump’s Massive Import Taxes Haven’t Done Much Economic Damage – Yet
For now, the disconnect has businesses and consumers struggling to reconcile what they were told to expect, what the numbers say and what they are seeing on the ground.
Innovation Helped CT’s Top LOs Win
The state’s loan originators had to deal with high interest rates and low inventory as they tried to get their customers into homes but were still able to succeed in 2024.
Thomaston Savings Bank Partners With Paige to Simplify Legacy Planning
Thomaston Savings Bank has partnered with Paige, a legacy planning platform, to offer streamlined estate planning services to families and businesses across Connecticut.
Fed Official Sees Signs of Slowing Economy
A top Federal Reserve official said Friday that massive uncertainty created by President Donald Trump’s tariffs has caused some businesses to cut back on hiring and spending.
