Banking and Lending
Reading Cooperative Bank Merger Given Green Light
The merger of Reading Cooperative Bank and Wakefield Co-operative Bank has been approved by regulators and will officially close on May 1, the two banks announced Tuesday.
Avidia Bank Plans to Convert to Stock Ownership
A MetroWest bank that came to prominence for its digital-forward thinking is taking a step to raise millions in cash – and potentially make it easier to acquire other banks.
Can Good Service Help in Uncertain Economic Times?
The economy might be searching for stability as it rides President Donald Trump’s tariff rollercoaster, but bank consumers are growing increasingly satisfied with their financial institution.
Rockland Trust Ups Loan-Loss Provision Amid Office Turbulence
An increase in its set-aside for troubled loans as speculation grows about a possible recession saw Rockland Trust’s net income tick downwards in the first quarter.
Community Good Works
A Workers Credit Union executive organized financial education classes to help students with disabilities and other significant challenges prepare to live independently. See who else gave back.
Nearly 90 Percent of CFPB Cut as Trump Tries to Eliminate Agency
President Donald Trump is drastically shrinking the workforce and mission of the Consumer Financial Protection Bureau, eviscerating an agency created after the Great Recession with the goal of protecting Americans from fraud, abuse and deceptive practices.
Accountants Renew Tax Reform Calls as Clients Leave Mass.
Massachusetts accountants representing wealthy residents renewed their calls Wednesday for a bevy of tax reforms, including overhauling the “sting tax” on companies, to prevent the ongoing outmigration of Bay Staters and businesses.
Trump Says Fed Chair’s ‘Termination Cannot Come Fast Enough’
President Donald Trump slammed Federal Reserve Chair Jerome Powell on Thursday after Powell signaled that the Fed will keep its key interest rate unchanged while it seeks “greater clarity” on the impact of Trump’s policies.
Beacon Hill Could Allow Credit Unions to Absorb Mutual Banks
A bill that would allow for Massachusetts credit unions to take over mutual banks passed its first hurdle yesterday: Getting a committee hearing.
Quincy Private Construction Lender Expands Partnership with Florida Bank
First Boston Capital Partners says it has expanded its revolving line of credit with BankUnited, based in the Miami area, as it aims to grow its private lending business.
Economic Secretary Hao Leaving Healey’s Cabinet
Economic Development Secretary Yvonne Hao is stepping down from her port at the end of the month, with Undersecretary of Economic Foundations Ashley Stolba in line to take over the secretary’s duties on an interim basis, the Healey administration said Tuesday.
Personnel File – No. 402
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Rockland Trust Launches New Insurance Offering
Rockland Trust’s Investment Management Group is expanding its insurance offerings by launching personal risk property and casualty insurance advisory services.
M&T Ups Ratio of Money Set Aside for Troubled Loans
The bank still reduced the amount of money it’s set aside for loans going bad last quarter while also seeing both loans and deposits take a dip.
A Top Mass. Economist Tries to Navigate Tariffs’ Local Impact
Between market dips, concerned state officials and international trade implications, the tariff policies implemented and now partly paused by President Donald Trump last week have created widespread worry across Massachusetts and the nation.
Making Digital Work for Workers CU
Sandesh Parulekar will bring his experience as a top technology executive at DCU to a credit union one-sixth the size as it aims for a digital transformation.
JPMorgan Nearly Doubles Provision for Loan Losses
JPMorgan’s net income rose 9 percent in the first quarter and the New York bank beat Wall Street’s profit and revenue targets, but its chief executive warned of global economic uncertainties ahead due to tariff chaos.
Bill Overturning Bank Overdraft Fee Limits Heads to Trump’s Desk
The House voted Wednesday to overturn a rule that would have limited bank overdraft fees to $5, following the Senate in moving to dismantle the regulation that the Biden administration had estimated would save consumers billions of dollars.
Charlesbridge MHC Names Daniel Brennan CFO
Daniel Brennan has been named chief financial officer of Charlesbridge MHC, the mutual holding company of Dedham Savings and South Shore Bank.
Bangor Savings, Rockland, Eastern Top Satisfaction Survey
As the national economy inched its way towards a soft landing last year, consumers’ satisfaction with their banks grew.
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