Banking and Lending
Fintech Startups Raise $3.49B Globally in March
April 9, 2018 | Reprints | Unlock LinkFintech startups raised $3.49 billion in venture capital funding through 137 deals in the month of March alone, according to the latest report from MEDICI.
Former Webster Bank CEO Reportedly Pursuing Bid for Governor
April 6, 2018 | Reprints | Unlock LinkMultiple media outlets have reported that Smith, who recently co-chaired a state-sanctioned commission that proposed vast changes to Connecticut’s tax and economic policies, will pursue a gubernatorial run.
PE Firm Offers CT $2B to Sell Public Properties
April 6, 2018 | Reprints | Unlock LinkChicago private equity firm Oak Street Real Estate Capital has offered up to $2 billion to purchase various state and Hartford-owned properties and lease them back to the government, according to Bloomberg.
SEC Charges Danbury Investment Adviser
By Bram Berkowitz | April 6, 2018 | Reprints | Unlock LinkThe Securities and Exchange Commission yesterday announced charges against a Danbury, Connecticut-based investment adviser for improperly registering with the commission and violating several commission rules that apply to registered investment advisers.
Proposed Legislation Would Help Stabilize State Transportation Funding
April 6, 2018 | Reprints | Unlock LinkA vote yesterday by the Finance, Revenue and Bonding Committee supports legislation that will help stabilize the state’s transportation funding in the long-term.
Cohen Wins Dismissal of $8B Short-Selling Lawsuit
By Reuters | April 5, 2018 | Reprints | Unlock LinkThe billionaire Steven A. Cohen won the dismissal of an $8 billion lawsuit accusing him and his former firm SAC Capital Advisors of conspiring with other hedge funds to spread false rumors about Fairfax Financial Holdings Ltd, hoping to “crush” or “kill” the insurer.
Dimon Praises Trump Regulation Efforts
By Reuters | April 5, 2018 | Reprints | Unlock LinkJPMorgan Chase & Co. CEO Jamie Dimon complimented the administration of President Donald Trump in his annual letter to shareholders on Thursday, saying tax cuts and deregulatory efforts are helping his bank make more money.
West Haven Woman Sentenced for Three Bank Robberies
April 5, 2018 | Reprints | Unlock LinkCourtney Worthington, 31, of West Haven, was sentenced today in federal court to 60 months of imprisonment, followed by three years of supervised release, for robbing three Connecticut banks.
Moody’s Upgrades Hartford’s General Obligation Bond Ratings
April 5, 2018 | Reprints | Unlock LinkMoody’s Investor Service has upgraded the city of Hartford’s credit ratings just a week after the Hartford City Council approved a plan that would see the state of Connecticut pay off $550 million of the city’s general obligation debt over the next 20 years.
Freddie Mac Weekly Mortgage Rates
April 5, 2018 | Reprints | Unlock LinkAfter dropping earlier this week on trade-related anxiety in financial markets, the benchmark 10-year Treasury stabilized on Wednesday, but at a level slightly lower than from the start of last week. Mortgage rates followed and fell for the second consecutive week.
‘Tax Transcript’ Program Doesn’t Shield Borrowers’ Data
By Kenneth R. Harney | Washington Post Columnist | April 5, 2018 | Reprints | Unlock LinkIn an era of unceasing horror stories about breaches of sensitive consumer information, here’s some disquieting news for homebuyers: Federal auditors say the popular “tax transcript” program run by the IRS and used by millions of mortgage applicants a year lacks adequate security protections against disclosures of tax-return details to people who shouldn’t be allowed to obtain them.
Massachusetts Bank Opens Southport Lending Office
By Cassidy Norton | Commercial Record Staff | April 4, 2018 | Reprints | Unlock LinkAn Arlington, Massachusetts-based bank with more than $1 billion in assets has hired three veteran Connecticut lenders to staff its new office in Southport.
Darien Rowayton Bank Officially Changes Name to Laurel Road Bank
April 4, 2018 | Reprints | Unlock LinkLaurel Road, an online lender and FDIC-insured bank, officially announced today that Darien Rowayton Bank and its national online lending division will rebrand under the integrated national Laurel Road brand.
HSBC to Pay $100M to End Libor Rigging Lawsuit
By Reuters | April 4, 2018 | Reprints | Unlock LinkHSBC Holdings Plc has agreed to pay $100 million to end private U.S. litigation accusing it of conspiring to manipulate the Libor benchmark interest rate, becoming the fourth major bank to settle.
Judge Certifies Goldman Sachs Gender Bias Class Action
By Reuters | April 4, 2018 | Reprints | Unlock LinkA federal judge ruled that women accusing Goldman Sachs Group Inc. of discriminating against them in pay, promotions and performance reviews may pursue their claims as a group in a class-action lawsuit.
Payrailz Moves to Bigger Office to Accommodate Growth
April 3, 2018 | Reprints | Unlock LinkGlastonbury-based Payrailz, a digital payments company offering secure bill payment and money transfer solutions to banks and credit unions, has moved its headquarters to a larger office to accommodate the company’s rapid growth strategy and momentum.
Mayors Harp, Ganim Scrutinize State’s Half-Billion Dollar Hartford Bailout
April 3, 2018 | Reprints | Unlock LinkNew Haven Mayor Toni N. Harp and Bridgeport Mayor Joe Ganim recently released a joint statement in response to the state’s agreement to pay off some $550 million of Hartford’s accumulated debt.
Federal Reserve, OCC, FDIC Issue Final Rule on CRE Transactions Requiring Appraisal
April 3, 2018 | Reprints | Unlock LinkThe Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency issued a final rule that increases the threshold for commercial real estate transactions requiring an appraisal from $250,000 to $500,000.
Liberty Bank Launches Cybercrime Prevention Course
April 2, 2018 | Reprints | Unlock LinkMiddletown-based Liberty Bank and Charter Oak State College are partnering on a free online video course to help people protect themselves from cybercrime.
Federal Judge Strikes Down Two Provisions in NCUA Field of Membership Rule
By Bram Berkowitz | April 2, 2018 | Reprints | Unlock LinkA federal judge has struck down two provisions in a National Credit Union Administration rule that makes it easier for credit unions to further expand their membership. The ruling will be seen as a partial victory for the banking industry, which strongly opposed the rule.
