As Health Care Costs, High-Deductible Plans Rise, So Does Demand For HSAs
With health care expenses forever on an upward trajectory and an Obamacare provision looming on the horizon that would tax employers offering benefits-rich health plans
As The Dollar Gains Worldwide, Implications At Home
It’s good to be on top. Or is it?
Big Banks Pass Stress Tests, But The Fed Still Has Some Concerns
All 28 bank holding companies subjected to the Federal Reserve’s latest round of stress testing passed muster, more or less, but the Fed objected to the capital plans of two bank holding companies on qualitative grounds and issued a “conditional non-objection” to Bank of America’s capital plan.
Raising Cyber Awareness
When Ken Montgomery first went to work for the Federal Reserve Bank of New York, he figured it would be a good two-year gig. His previous employer had wanted to send him to Detroit, so the New Jersey native really just wanted to stay closer to home at first. But three Federal Reserve banks and 30 years later, Montgomery has carved out a pretty strong niche, putting his tech background to work for every business the Fed touches. Recently, he sat down with The Commercial Record to talk about the Boston Fed’s new cybersecurity pilot program for community banks.
Federal Reserve: Big Banks Pass Dodd-Frank Stress Tests
The very largest U.S. financial institutions would weather a severe economic downturn, according to the results of the most recent stress tests mandated under the Dodd-Frank Act.
Citizens Taps Former Citigroup Banker As CFO
Citizens Financial Group this week appointed Eric Aboaf to the post of executive vice president and chief financial officer (CFO).
FDIC: Big Banks\’ Bills Bite Into Industry Profits, Community Banks Post Double-Digit Gains
Industry-wide quarterly earnings took a hit last year due to a few big banks’ litigation expenses, but on the whole, the fourth quarter was a rosier picture for the rest of the industry, as the number of unprofitable and problem banks fell and community banks posted double-digit gains.
Police Investigating ‘All Angles\’ In Bomb Threat, Credit Union Robbery Plot
New Britain police found Matthew Yussman on Monday at Achieve Federal Credit Union with an apparent bomb strapped to his body.
Still An Uphill Climb
With the economy finally stabilizing, consumer sentiments on the mend and employment figures ticking upward, Connecticut\’s bankers this year are in a prime position to capitalize on improving demand on both the residential and commercial sides of the house.
Community Banks Troubled By Regs, Asset Declines
Community banks’ share of U.S. banking assets and lending markets has fallen to around 20 percent today from more than 40 percent in 1994, according to a recent study out of Harvard University’s Mossavar-Rahmani Center for Business & Government.
SNL Financial: U.S. Banks Grow As Expenses Eat Profits
Industry profits last year dipped following a record high in 2013, as noninterest expenses ate into income and net interest margins contracted, according to a new analysis from SNL Financial.
ABA To Senate: Uniform Data Breach Standards Needed
Bankers may not normally welcome new laws, but where cybersecurity and data breaches are concerned, they might like a little guidance from the Feds – and it certainly wouldn’t hurt if retailers would share a little bit more of the financial burdens of data breaches.
Berkshire Bank Books Profits In Q4, Looks To Loans In ’15
Berkshire Hills Bancorp increased its core earnings by 20 percent during the fourth quarter of 2014, boosted in particular by growth in its commercial loan portfolio.
Room To Grow
Peter Chieco always thought he would follow his father into the restaurant business, but his father had other ideas and encouraged him to pursue a more flexible career. Chieco recalls that the day he passed his Series 7 exam was also the day he met his wife, and he now says his father’s advice was some of the best he’s ever received.
WalletHub: Credit Unions Offer More Than Banks
Credit unions “continue to provide the best deals,” offering 10 times more interest on checking accounts than regional banks and 573 percent higher rates on savings accounts compared to national banks, according to the Q4 Banking Landscape Report from WalletHub.
ABA Committee: Economic Fundamentals On The Upswing In 2015
The economic outlook is on the upswing this year, with bank economists predicting 3 percent growth in the overall economy, boosted at least in part by healing banking and real estate sectors and falling energy prices.
Survey: 64 Percent Of Young Adults Keep Bank Cards ‘At Top Of Wallet\’
Credits card demographics are changing, with more than half of U.S. young adults ages 25 to 34 now more likely to use bank-branded and co-branded credit cards, according to a new report from Mercator Advisory Group.
Citizens Survey: M&A Activity Should Ramp Up In 2015
Expect 2015 to be a busy year for M&A activity, as corporate buyers feel bolstered by an improving economy and baby boomers think about selling their business ahead of retirement.
Beige Book: Economic Activity Looks Up At End Of 2014
Economic activity ticked upward in New England through the end of 2014, according to the Federal Reserve’s latest Beige Book report.
