Banking and Lending
CEO Out at Struggling Stamford-Based Bank After $50M Capital Raise
By James Sanna | March 26, 2025 | Reprints | Unlock LinkPatriot Bank, the Stamford-based lender that was labeled as “troubled” by financial regulators late last year, is now losing its CEO.
Fed Sees Tariffs Raising Inflation, But Keeps Key Rate Unchanged
By Christopher Rugaber | The Associated Press | March 20, 2025 | Reprints | Unlock LinkCentral bankers also took steps that could drive down mortgage rates as the spring housing market opens.
CT Banks Winning Bigger Slice of CRE Pie
By Sam Lattof | March 20, 2025 | Reprints | Unlock LinkIn a year that saw banks take up a larger chunk of the commercial real estate lending pool, local and regional banks were among the top CRE lenders in Connecticut.
‘Stagflation’ Risk Puts Fed in Tricky Spot as It Meets This Week
By Christopher Rugaber | The Associated Press | March 18, 2025 | Reprints | Unlock LinkWhen Federal Reserve officials last met, hiring was solid. The economy had just grown at a solid pace in last year’s final quarter. And inflation had fallen sharply. What a difference seven weeks makes.
Stamford-Based Mortgage Company Relocating to NYC
By James Sanna | March 11, 2025 | Reprints | Unlock LinkTomo Mortgage, located in Stamford’s Harbor Point neighborhood, is moving just a few years after Gov. Ned Lamont touted the company’s arrival in Stamford as a sign of better times for its office sector.
Trump’s 25 Percent Tariffs on Mexico, Canada Take Effect
By Zeke Miller, Josh Boak and Rob Gillies | The Associated Press | March 4, 2025 | Reprints | Unlock LinkPresident Donald Trump’s long-threatened tariffs against Canada and Mexico went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States’ North American allies.
CFPB Drops Enforcement Against Capital One, Rocket Homes and More
By Wyatte Grantham-Philips | The Associated Press | February 28, 2025 | Reprints | Unlock LinkThe Consumer Finance Protection Bureau has dropped several enforcement actions against lenders, just weeks under new leadership and turmoil at the agency caused by orders from Trump administration.
Guilford Savings Bank Rebrands as ‘Ascend Bank’ After 150 Years
By Sam Lattof | February 27, 2025 | Reprints | Unlock LinkThe move comes as GSB seeks approval for a merger, with an eye towards ultimately becoming a statewide bank.
Report: Dime Bank CEO to Retire
February 24, 2025 | Reprints | Unlock LinkThe long-running CEO of Norwich-based Dime Bank plans to step down this fall.
Trump Seeks Greater Control of Fed with New Order
By Josh Boak | The Associated Press | February 20, 2025 | Reprints | Unlock LinkPresident Donald Trump is moving to give the White House direct control of independent federal corporate regulators.
Fed Official: Need ‘Dust to Clear’ Before Deciding Next Moves
By Christopher Rugaber | The Associated Press | February 18, 2025 | Reprints | Unlock LinkAustan Goolsbee, president of the Fed’s Chicago branch, said if tariffs don’t worsen inflation, rate cuts could resume.
Fed Chair Says Bank Accounts ‘Safe’ Despite Trump’s Teardown of CFPB
By Christopher Rugaber | The Associated Press | February 12, 2025 | Reprints | Unlock LinkJerome Powell, testifying before the Senate Banking Committee, said “bank accounts overall across the economy are safe” and backed by government deposit insurance.
Trump Orders US to Ditch Penny After Decades of Complaints
By Alan Suderman | The Associated Press | February 11, 2025 | Reprints | Unlock Link“Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time,” the president wrote in a social media post, which was light on details about plans for a post-penny future.
New CFPB Head Moves to Shut Down Agency Without Congressional OK
By Christopher Rugaber | The Associated Press | February 10, 2025 | Reprints | Unlock LinkA Sunday night email ordered the bureau to “cease all supervision and examination activity,” effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal.
What Does Halt to CFPB Work Mean for CT Banks?
By Sam Lattof | February 4, 2025 | Reprints | Unlock LinkPresident Donald Trump’s attempt Monday to shut down activity at the Consumer Financial Protection Bureau is raising questions about what it means for local financial institutions.
Fed Hold Rates Steady, Says Job Market Is ‘Solid’
By Christopher Rugaber | The Associated Press | January 30, 2025 | Reprints | Unlock LinkThe Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.
Fed Expected to Stand Pat on Rates Despite Trump Demands
By Christopher Rugaber | The Associated Press | January 27, 2025 | Reprints | Unlock LinkThe Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates.
Trump’s Inheriting a Solid Economy, Making it Harder to Lower Borrowing Costs or Inflation
By Christopher Rugaber | The Associated Press | January 23, 2025 | Reprints | Unlock LinkPresident Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep.
Patriot Bank Designated as ‘Troubled’ by Regulators
By James Sanna | January 21, 2025 | Reprints | Unlock LinkStamford-based Patriot Bank has to file a strategic plan with federal bank regulators and submit to extra oversight after being designated as “troubled” by the Office of the Comptroller of the Currency.
Trump Holding Off on Tariffs, Aiming to Cut Energy Prices First
By Josh Boak, Matthew Daly and Paul Wiseman | The Associated Press | January 20, 2025 | Reprints | Unlock LinkDonald Trump is holding off on tariffs during his first day and placing a big bet that his executive actions can cut energy prices and tame inflation. But it’s unclear whether his orders will be enough to move the U.S. economy as he promised.
