Holyoke Credit Union Names New CEO
Holyoke Credit Union has named its new leader: James T. Wolohan.
Personnel File – No. 364
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s The Personnel File.
Healey Launches Small Fund to Help Cities Plan for Office Conversions
Communities “outside of Boston” will share a $1 million fund to help plan for the conversion of office spaces to housing, Gov. Maura Healey announced Friday.
Fed Likely to Preach Patience on Rate Cuts
Across the United States, many people are eagerly anticipating the Federal Reserve’s first cut to its benchmark interest rate this year: Prospective home buyers hope for lower mortgage rates. Wall Street traders envision higher stock prices. Housing developers looking to get shovels in the ground.
Community Good Works
North Shore Bank announced its employees recently presented the Reading Food Pantry with a $1,200 contribution raised via one of its regular Jeans Day events. See who else gave back.
Personnel File – No. 363
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s The Personnel File.
Winners in a Bad Year
Massachusetts banks, credit unions and mortgage companies all took major hits in residential lending, but there were a few brights spots that helped some lenders come out on top.
A Culture of Putting Communities First
Robert Cashman’s life has been intertwined with Metro Credit Union from the start: his grandfather founded it and his father led it. Now, he’s leading the Chelsea lender to new heights.
Powell Waves White Flag on Basel III
A sweeping bank regulatory proposal will be significantly revised by year’s end, Federal Reserve Chair Jerome Powell said Thursday, a potential victory for the large banks that have aggressively opposed the likely changes.
TD Gives $1M to Expand Affordable Developer’s Assistance Program
The Community Builders, a national nonprofit developer of affordable and supportive housing, now has $1 million courtesy of TD Bank to scale up its Home Room housing instability pilot program.
Rockland Trust Finances Downtown Office Conversion
A Boston developer will use $5.1 million in financing from Rockland Trust to convert a Financial District office building into 15 apartments.
Powell: Rate Cuts Still Likely, but More Evidence Needed that Inflation’s Tamed
Chair Jerome Powell reinforced his belief Wednesday that the Federal Reserve will cut its key interest rate this year but that it first wants to see more evidence that inflation is falling sustainably back to the Fed’s 2 percent target.
CFPB Seeks $8 Credit Card Late Fee Cap
The Biden administration announced a rule Tuesday to cap all credit card late fees, the latest effort in the White House push to end what it has called “junk fees” and a move that regulators say will save Americans up to $10 billion a year.
Berkshire to Sell Off 10 New York State Branches
Boston-based Berkshire Bank will sell off 10 of its Upstate and Eastern New York State branches to three separate buyers, along with associated deposits and loans.
Personnel File – No. 362
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s The Personnel File.
Driving the Best Bargain Now Isn’t the Best Long-Term Strategy
Conventional wisdom says that you should never leave money on the table when negotiating. But research in the field of game theory suggests this could be exactly the wrong approach.
A New ‘Public Bank’ Can Be a Partner for Massachusetts’ Banks and Small Business
There is a potential new partner just over the horizon for Massachusetts’ community banks, community development financial institutions, small businesses, farms and underserved communities: a Massachusetts Public Bank.
Mass. Banks, CUs Venture into AI-Powered Territory
A year after ChatGPT burst onto the national stage, Massachusetts’ banks and credit unions have begun adopting artificial intelligence-powered software tools in quests to enhance customer experience, offer new products or improve operational efficiency.
OCC Data: Chase, Bank of America Opening, Closing Branches in Mass.
JPMorgan Chase and Bank of America have filed applications to open and close branches in Massachusetts while Citizens Bank completed the closing of some Stop & Shop branches, according to the latest data from the Office of the Comptroller of the Currency.
Fewer Banks Tightening Lending Standards, Raising Hopes
Fewer banks tightened lending standards as 2023 came to a close, a hopeful sign for businesses that broader loan access is on the horizon.
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