On June 17, the U.S. Treasury Department released a comprehensive plan to reform the financial services regulatory system in the United States. The plan, Financial Regulatory Reform: A New Foundation, identifies causes of the current crises in the financial markets and proposes changes to the current system of financial services regulation in the United States in an effort to prevent similar events in the future.


People can be divided into three classes, it has been said: the haves, the have-nots and the have-not-paid-for-what-they-haves. The prevalence of the third category may be the biggest single source of vulnerability for the nation\’s recovery.


A lawsuit has been filed against Connecticut Community Bank, owner of Westport National Bank, on behalf of retirement account holders who say they lost $60 million the bank invested with convicted swindler Bernard Madoff.

The board of directors of Salisbury Bancorp Inc., the holding company for Salisbury Bank and Trust Co., has declared a $.28 per common share quarterly cash dividend.

More than $122 million worth of Connecticut’s state revolving fund bonds have received the highest ‘AAA’ rating and a stable outlook from Fitch Ratings, reflecting in part their highly rated loan pool and strong default tolerance, the company said.

The board of directors of Essex Savings Bank recently elected Kenneth Gibble of Old Saybrook to chairman.

Wells Fargo & Co. on Monday said it plans to expand the securities business it largely inherited when it bought Wachovia Corp., signaling its commitment to an area that has been recovering from last year’s credit market seizure.

Money managers must offer new portfolios and keep cutting costs to survive in an era where frightened investors prefer safer fixed-income funds to stock and hedge funds, a report released on Monday showed.

Sachem Bank, a commercial bank designed to serve the estimated 75,000 people living along a 15-mile stretch of shoreline that includes Madison and Branford, came a little closer to reality this week when organizers received a Temporary Certificate of Authority from the Connecticut Department of Banking (DOB).


Connecticut has joined several other states across the nation where Bank of America is shutting down some of its branches.

Brian Singer, a former asset manager for UBS, today launched Singer Partners LLC, his own investment management firm based in Darien.

The founders of Sachem Bank, a proposed new bank serving Connecticut’s shoreline, have been granted their Temporary Certificate of Authority from the state.

Norwalk’s GE Capital, Corporate Finance, has provided a $100 million asset-based credit facility to California’s Monrovia Nursery, to be used for working capital needs, according to a statement.

Police have filed new charges against one of two Massachusetts men charged in a Bristol bank robbery earlier this month.

Leadership Greater Waterbury, a professional career development program designed to prepare future civic and community leaders underwritten by Naugatuck Savings Bank Foundation, is set to hold a graduation ceremony for 15 recent graduates tonight in Waterbury.

By adopting old-fashioned, manufacturing-style quality control checks, Avon check processing and financial institution technology services firm COCC has reduced its statement errors by 46 percent, and has earned itself a process excellence award from the Connecticut Quality Council.

Despite continuing economic hardships nationwide, the country’s credit unions are celebrating their history and planning for the future, hoping to capitalize on high levels of trust among consumers.