Banking and Lending
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.
Study: Cost to Attend Most Colleges Exceeds Federal Loan Limits
By Bram Berkowitz | April 2, 2018 | Reprints | Unlock LinkThe cost to attend most colleges far exceeds the amount that students are allowed to borrow under federal loan limits, according to a recent Student Loan Hero study.
Stamford Self-Storage Facility Gets $9.1M Construction Loan
By Steve Adams | Commercial Record Staff | March 30, 2018 | Reprints | Unlock LinkColliers International’s Boston-based capital markets team has arranged $9.1 million in construction financing for a self-storage facility at 432 Fairfield Ave. in Stamford.
Nutmeg State Financial Credit Union Plans Milford Expansion
By Bram Berkowitz | March 30, 2018 | Reprints | Unlock LinkRocky Hill-based Nutmeg State Financial Credit Union has filed an application with the Connecticut Department of Banking to open a full service branch in Milford.
SBA Names 2018 Businesses of the Year
March 30, 2018 | Reprints | Unlock LinkThe president and CEO of Bright & Early Children’s Learning Centers of North Branford, has been named the U.S. Small Business Administration’s 2018 Connecticut Small Business Person of the Year, the SBA’s top award.
CT Bank Commissioner Enters Consent Order with Former Broker-Dealer Agent
March 30, 2018 | Reprints | Unlock LinkConnecticut’s Banking Commissioner Jorge L. Perez on March 23 entered a consent order with respect to Matthew Charles Woodard, a former broker-dealer agent of ProEquities Inc. Woodard was also associated with First Allied Securities Inc. in an unregistered capacity.
Torrington Savings Bank Makes $150K Contribution to Library’s Community Room
March 29, 2018 | Reprints | Unlock LinkTorrington Savings Bank has donated $150,000 donation to the Torrington Library.
Barclays to Pay $2B US Fine Over Mortgage Fraud Claims
By Reuters | March 29, 2018 | Reprints | Unlock LinkBarclays has agreed to pay $2 billion for allegedly causing billions of dollars of losses to investors by engaging in a fraudulent scheme to sell residential mortgage-backed securities between 2005 and 2007, the U.S. Justice Department said on Thursday.
Freddie Mac Weekly Mortgage Rates
March 29, 2018 | Reprints | Unlock LinkTreasury yields fell from a week ago helping to drive mortgage rates modestly lower.
First County Bank Teams Up with Indoor Sports Facility
March 28, 2018 | Reprints | Unlock LinkFirst County Bank has partnered with the Bobby Valentine Sports Academy (BVSA) as the official sponsor of BVSA’s new 40,000-square-foot indoor sports facility.
Chicago Can Pursue Part of Wells Fargo Predatory Lending Case
March 28, 2018 | Reprints | Unlock LinkA federal judge significantly narrowed but refused to dismiss a lawsuit accusing Wells Fargo & Co., the third-largest U.S. bank, of predatory mortgage lending targeting black and Hispanic borrowers in the Chicago area.
Greenwich Health Care Finance Company Makes Acquisition
March 27, 2018 | Reprints | Unlock LinkThe Greenwich-based specialty finance company CNH Finance last week announced the expansion of its national commercial health care lending capabilities with the acquisition of Portland, Oregon-based Triumph Healthcare Finance, a division of TBK Bank, SSB, which is a subsidiary of Triumph Bancorp Inc.
Meriden Business Owner Pleads Guilty to Wire Fraud
March 27, 2018 | Reprints | Unlock LinkThe owner of a Meriden transportation broker firm admitted to defrauding four manufacturing companies.
Recent Equifax Survey Examines Automotive Shopping Habits in Two Age Groups
March 26, 2018 | Reprints | Unlock LinkA recent consumer automotive survey from Equifax Inc. analyzed automotive shopping and buying behaviors across prime and subprime credit buyers, as well as Millennial and Baby Boomer age groups.
BofA Pays $42M Fine in New York ‘Masking’ Probe
By Reuters | March 26, 2018 | Reprints | Unlock LinkBank of America Corp. will pay a $42 million fine and admitted wrongdoing to settle claims by New York’s attorney general that it fraudulently routed clients’ stock trades to outside firms, including one run by swindler Bernard Madoff.
US Top Court Rejects AIG Ex-CEO Greenberg’s Bailout Challenge
By Reuters | March 26, 2018 | Reprints | Unlock LinkThe U.S. Supreme Court on Monday handed a defeat to former American International Group Inc. CEO Maurice “Hank” Greenberg, refusing to hear an appeal he led arguing that the federal government illegally bailed out the insurer during the 2008 financial crisis at the expense of shareholders.
Amazon Checking Account Poses Threat to Community Banks
By Bram Berkowitz | March 23, 2018 | Reprints | Unlock LinkLarge ecommerce players like Amazon have upended many industries from retail to entertainment to grocers, forcing businesses in these sectors to adapt or face a future filled with uncertainty.
Study: Consumers Unmotivated to Seek Higher Deposit Returns
March 23, 2018 | Reprints | Unlock LinkAlthough the Federal Reserve has raised short-term interest rates several times over the past two years, banks and credit unions have resisted raising deposit rates to match, primarily because consumers remain unmotivated by the rate environment.
Citi Sets Restrictions in Gun Sales by Retail Clients
By Reuters | March 23, 2018 | Reprints | Unlock LinkCitigroup Inc. added restrictions on firearms sales for new retail-sector clients, the Wall Street bank said on Thursday, the strongest move to date by a major U.S. lender following last month’s high school shooting in Florida.
Norwich-Based Eastern Savings Bank Proposes Name Change
By Bram Berkowitz | March 22, 2018 | Reprints | Unlock LinkNorwich-based Eastern Savings Bank has filed an application with the Connecticut Department of Banking to change its name to Eastern Connecticut Savings Bank, in an effort to more closely identify with the communities the bank serves.
