Banking and Lending
Gloomy Americans Cut Back on Spending as Inflation Ticks Higher
By Christopher Rugaber | The Associated Press | June 30, 2025 | Reprints | Unlock LinkA key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans also cut back on their spending last month.
Fannie, Freddie Ordered to Consider Crypto as Asset When Underwriting Mortgages
By Alex Veiga | The Associated Press | June 27, 2025 | Reprints | Unlock LinkThe head of the federal government agency that oversees Fannie Mae and Freddie Mac wants the mortgage giants to consider accepting a homebuyer’s cryptocurrency holdings in their criteria for buying mortgages from banks.
Americans Sour on U.S. Economy – and Tariff Anxiety Remains Top Culprit
By Matt Ott | The Associated Press | June 26, 2025 | Reprints | Unlock LinkAmericans’ view of the U.S. economy worsened in June, resuming a downward slide that had dragged consumer confidence to its lowest level since the COVID-19 pandemic five years ago.
First County Bank Names Two New Corporators
June 20, 2025 | Reprints | Unlock LinkStamford-based First County Bank welcomed two new corporators to its board earlier this week.
Fairfield County Bank Donates $5K to CCSU Banking Excellence Program
June 13, 2025 | Reprints | Unlock LinkFairfield County Bank has partnered with Central Connecticut State University (CCSU) and provided a $5,000 donation for the recently announced Banking Excellence Program partnership.
Ellafi Goes All In for Women
By Sam Lattof | June 12, 2025 | Reprints | Unlock LinkWhile looking for a niche and need to fill, the former Seasons FCU zeroed in on a historically underserved population – women. Market research and survey responses made it clear that while women are often in charge of finances and financial decisions, they aren’t comfortable with the responsibility. And thus was born Ellafi FCU, with a mission to create economic resilience and empower women to achieve financial independence.
Investor Selling Activity Stays Flat in New England
By Sam Lattof | June 10, 2025 | Reprints | Unlock LinkWhile investors aren’t purchasing as many single-family homes compared to prior years, they are selling more of these properties.
HELOC Lending Increases in Hartford in Q1
By Sam Lattof | June 9, 2025 | Reprints | Unlock LinkHELOC lending increased 14 percent in the first quarter of the year in the greater Hartford region.
Fed Lifts Restrictions on Wells Fargo’s Growth Seven Years After Fake-Accounts Scandal
By Ken Sweet | The Associated Press | June 4, 2025 | Reprints | Unlock LinkThe bank operates around two dozen branches in Connecticut, and has $8.17 billion worth of in-state deposits.
PeoplesBank Acquires Naming Rights to Hartford Arena
By Sam Lattof | June 3, 2025 | Reprints | Unlock LinkPeoplesBank has continued to invest in marketing for its Connecticut expansion by acquiring the naming rights to what was formerly the XL Center.
A New Name in Time for a Big Anniversary
By Sam Lattof | May 29, 2025 | Reprints | Unlock LinkEssex Savings Bank is shortening its name to Essex Bank, a change that President and CEO Diane Arnold reflects that the bank has become more than a place for individuals in Connecticut to store their savings.
Chase Plans 14 New Offices for High-End Wealth Management
By Sam Lattof | May 28, 2025 | Reprints | Unlock LinkChase is expanding its affluent banking offering by opening 14 new J.P. Morgan Private Client “financial center” offices across four states, including New York and Massachusetts.
Consumer Confidence Rebounds After Five Straight Months of Declines
By Matt Ott | The Associated Press | May 27, 2025 | Reprints | Unlock LinkAmericans’ views of the economy improved in May after five straight months of declines sent consumer confidence to its lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs.
Senate Passes Bill to Prevent Future ‘Zombie’ Mortgages
By Alex Appel | Connecticut Inside Investigator | May 21, 2025 | Reprints | Unlock LinkAn Act Concerning A Study Relating to Banking Issues imposes a 10-year statute of limitations for so-called “zombie mortgages” on one- to four-family dwellings.
Trump’s Massive Import Taxes Haven’t Done Much Economic Damage – Yet
By Paul Wiseman, Christopher Rugaber and Anne D'Innocenzio | The Associated Press | May 20, 2025 | Reprints | Unlock LinkFor now, the disconnect has businesses and consumers struggling to reconcile what they were told to expect, what the numbers say and what they are seeing on the ground.
Innovation Helped CT’s Top LOs Win
By Sam Lattof | May 19, 2025 | Reprints | Unlock LinkThe state’s loan originators had to deal with high interest rates and low inventory as they tried to get their customers into homes but were still able to succeed in 2024.
Thomaston Savings Bank Partners With Paige to Simplify Legacy Planning
By Sam Lattof | May 16, 2025 | Reprints | Unlock LinkThomaston Savings Bank has partnered with Paige, a legacy planning platform, to offer streamlined estate planning services to families and businesses across Connecticut.
Fed Official Sees Signs of Slowing Economy
By Christopher Rugaber | The Associated Press | May 12, 2025 | Reprints | Unlock LinkA top Federal Reserve official said Friday that massive uncertainty created by President Donald Trump’s tariffs has caused some businesses to cut back on hiring and spending.
New England Remain Equity-Rich in First Quarter
By James Sanna | May 9, 2025 | Reprints | Unlock LinkHomes in New England are among the most equity-rich in the nation, according to a new report from Attom.
Federal Reserve Faces Tough Balancing Act on Rates
By Christopher Rugaber | The Associated Press | May 7, 2025 | Reprints | Unlock LinkThe Federal Reserve could keep its key rate unchanged for several more months as it evaluates the impact of President Donald Trump’s widespread tariffs on hiring and inflation, some economists say, even as the White House pushes for a rate cut.
