Banking and Lending
A processing glitch in the network that processes electronic transfers between nearly all U.S. bank accounts led to delays in settling deposits, some of which remain stalled, according to the private company that operates the system.
The average rate on the benchmark 30-year home loan fell slightly this week, ending a seven-week climb – modest relief for prospective homebuyers even as home loan applications have slumped to their lowest level since 1995.
The Federal Reserve kept its key short-term interest rate unchanged Wednesday for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead.
American bank customers feel like their financial situation is getting more and more precarious according to a new survey by consultancy J.D. Power.
Fairfield County Bank said it recently donated $7,500 to Building Neighborhoods Together, formerly the Bridgeport Neighborhood Trust.
The Federal Reserve is poised to leave its key interest rate unchanged Wednesday at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure.
A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a confounding resilience.
Two national studies show that US bank consumers are shifting their preferences more to digital banking platforms, both mobile and online, instead of opting to go to branches – particularly to branches inside big retailers.
New Canaan-based Bankwell Bank said its third-quarter net income improved from the same quarter a year ago mainly on the reduction of its provision of credit losses, freeing up money to contribute to profitability.
Thomaston Savings Bank announced the opening of its newest branch at 233 Main St. in New Britain. This is the bank’s 16th location.
The final version of federal bank regulators’ latest attempt to bring the nation’s anti-redlining rules into the 21st century has been revealed
Berkshire Bank is expecting to close down more branches in 2024 as a part of its three-year restructuring plan geared on leaning towards improvement of its digital banking platforms.
Some banks are using video-enabled ATMs to free branch staff to provide higher-touch advice and service to customers.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market.
Webster Bank’s net income declined in the third quarter as it incurred merger-related charges from its consolidation a New York bank last year.
M&T Bank continued to see high interest rates weigh down its financials in the third quarter thanks to its higher cost of deposits borrowers made cautious by high lending rates.
Ion Bank is opening its new 22nd branch in Southington. And it comes with a new benefit for customers: an electric vehicle charging station.
Home loan borrowing costs rose for the fifth straight week, keeping the average long-term U.S. mortgage rate at its highest level in more than two decades and taking another bite out of prospective homebuyers’ purchasing power.
Such cautious views are generally seen as evidence that the Fed isn’t necessarily inclined to raise rates in the near future.
The FTC proposal is being coupled with the Consumer Financial Protection Bureau announcing that it will block large banks from charging junk fees to provide basic customer services.