Banking and Lending
From Music To Mortgages
By Jim Morrison | August 31, 2017 | Reprints | Unlock LinkKevin Moran was a professional bluesman before making the leap into the mortgage business in the mid-1980s. After stints as a loan originator and manager at regional and national bankers, he returned home to Webster Bank in the Waterbury office.
Homeowner’s Lawsuit Says Wells Fargo Charged Improper Mortgage Fees
By Reuters | August 30, 2017 | Reprints | Unlock LinkA homeowner has filed a lawsuit accusing Wells Fargo & Co. of improperly charging thousands of customers nationwide to lock in interest rates when their mortgage applications were delayed.
CT Homebuilder Procures 3 Lots In Mystic
August 30, 2017 | Reprints | Unlock LinkWorth Avenue Capital LLC recently closed a $110,000 commercial loan to a homebuilder in Southeastern Connecticut.
Consumer Spending In 2016 Increased At Slower Pace, Despite Higher Incomes
By Bram Berkowitz | August 30, 2017 | Reprints | Unlock LinkConsumer spending in 2016 increased at a slower pace year-over-year, despite a faster increasing pre-tax income per consumer unit, the U.S. Department of Labor Statistics reported Tuesday.
Community Banks Did Well In Q2, But Vulnerable To Interest-Rate Risk
By Bram Berkowitz | August 29, 2017 | Reprints | Unlock LinkThe banking industry boosted earnings in the second quarter of 2017 with net income for the quarter surpassing $48 billion, a 10.7 percent increase from one year ago, according to data from the Federal Deposit Insurance Corporation.
Former Investment Advisor Sentenced For Stealing More Than $600K From Clients
August 28, 2017 | Reprints | Unlock LinkA Haddam man was recently sentenced to five years in prison for defrauding clients of his investment business.
First County Bank Lists Stamford Branch
By Bram Berkowitz | August 28, 2017 | Reprints | Unlock LinkStamford-based First County Bank has recently listed one of its branch locations for sale.
CFPB Increases HMDA HELOC Reporting Threshold
By Bram Berkowitz | August 25, 2017 | Reprints | Unlock LinkCommunity banks and credit unions will enjoy some regulatory relief after the Consumer Financial Protection Bureau yesterday amended the Home Mortgage Disclosure Act to up the reporting threshold regarding home equity lines of credit.
KeyBank Partners With University Of New Haven
August 25, 2017 | Reprints | Unlock LinkKey Private Bank and KeyBank Commercial Banking will partner with the University of New Haven’s Center for Family Business, the bank announced yesterday.
Savings Institute Bank & Trust Aids Individuals With Disabilities
August 25, 2017 | Reprints | Unlock LinkEach quarter Savings Institute Bank & Trust employees come together to select causes to receive funds from their 100 percent employee-funded Caring and Giving Program.
US Accuses Former Societe Generale Bank Managers Of Libor Scheme
By Reuters | August 25, 2017 | Reprints | Unlock LinkU.S. authorities have charged two managers at French bank Societe Generale with taking part in a scheme to manipulate the global U.S. dollar Libor benchmark interest rate.
Globalization’s Castaways Haunt Central Bankers
By Reuters | August 24, 2017 | Reprints | Unlock LinkAfter a turbulent year of anti-globalization backlash, central bankers still argue open borders and free trade are the key to more jobs, growth and prosperity.
Freddie Mac Weekly Mortgage Rates
August 24, 2017 | Reprints | Unlock LinkThe 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation.
TD Charitable Foundation Awards $5K Grant To Leadership Greater Hartford
August 23, 2017 | Reprints | Unlock LinkTD Charitable Foundation, the charitable giving arm of TD Bank, has awarded Leadership Greater Hartford (LGH) a $5,000 grant for its 2017 Common Ground youth leadership program.
JPMorgan Pledges Up To $2M To Fight Racism, Support Human Rights
By Reuters | August 23, 2017 | Reprints | Unlock LinkJPMorgan Chase & Co. said on Monday it will contribute up to $2 million to fight racism and support human rights in light of a white nationalist rally in Charlottesville, Virginia, that led to violence and the death of a protester.
Savings Institute Bank & Trust Promotes Kleckner
August 22, 2017 | Reprints | Unlock LinkMorgan Kleckner was recently promoted to mortgage consultant at Savings Institute Bank & Trust.
Savings Bank Of Danbury Presents Check To Aid Military
August 22, 2017 | Reprints | Unlock LinkSavings Bank of Danbury recently presented a check to Help Our Military Heroes (HOMH), an organization dedicated to improving the lives of wounded military heroes through mobility and independence.
Justice Department To End Operation Choke Point
By Bram Berkowitz | August 21, 2017 | Reprints | Unlock LinkThe U.S. Justice Department has said it will end an initiative created by the Obama administration that discouraged banks from doing business with certain industries such as short-term lenders and firearm dealers.
Wells Fargo Troubles Shift From Phony Bank Accounts To Real Ones
By Reuters | August 21, 2017 | Reprints | Unlock LinkAfter paying customers millions of dollars for opening phony accounts they did not want, Wells Fargo & Co. has said it is now grappling with the possibility it harmed customers by closing real accounts they needed, leaving them without access to funds.
US Pension Funds Sue Goldman, JPMorgan, Others Over Stock Lending Market
August 18, 2017 | Reprints | Unlock LinkThree U.S. pension funds sued six of the world’s largest banks on Thursday, including Goldman Sachs Group Inc. and JP Morgan Chase & Co., accusing them of conspiring to stifle competition in the more than $1 trillion stock lending market.
