Banking and Lending
Forget the Fruit Basket – Give Gifts of Culture, Curiosity and Community
What does an overflowing fruit basket, especially one ordered from a big national chain, really say about a company and its values? Especially when your community is overflowing with opportunities to expand your and your contacts’ horizons.
Housing Everyone Adds to the Greater Good
Efforts to keep people in their homes not only benefit the individuals at risk of homelessness, they also contribute to the overall well-being of our communities.
The Village Bank Opens New Waltham Branch
The Village Bank, headquartered in Newton, has opened its ninth branch in Waltham after years of serving the residents and businesses there from branches outside of town.
Community Good Works
Construction giant Suffolk gave $1.5 million in materials and staff time to build out an expanded mental health and brain injury clinic for veterans, active-duty service members and their families. See who else gave back.
Megabank CEOs Warn New Regulations Could Harm the Economy
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
New Mass. Fintech Report Highlights Need for Diversity and Inclusion
A new report found that funding and employment in the financial technology sector in Massachusetts improved from 2020 to 2022. However, there is still room for improvement in diversity and inclusion, collaboration between industry stakeholders and partnership with regulators.
KeyBank’s New Boston President: Small Business, Private Banking on Horizon
Despite not having a retail branch in Boston, KeyBank’s new local market president is aiming to grow its roster of commercial banking clients and establish small business banking and private banking groups in the area in the next few years.
BofA Looks to Add Three Mass. Branches After Closing Seven
Bank of America is investing $100 million in its branch network in Massachusetts from 2023 to 2025, for new branch establishments and renovations.
Mass. Workforce Shortages Here to Stay, Economist Says
The workforce shortage that has left employers across sectors scrambling to keep operations running in recent years isn’t likely to let up “any time, in the rest of anybody’s lifetime,” one of the nation’s leading economists said Thursday.
Fed’s Powell Tries to Tamp Down on Rate-Cut Hype
Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said in a speech Friday.
New CRA Rules Could Make Banks More Careful with Growth
After the release of the new Community Reinvestment Act rules last month, community groups say banks must be careful in expanding too fast, and instead should focus on improving lending and investments in low- to moderate-income communities in areas they already serve.
White House Acts to Boost Housing
The Biden administration is taking steps to help create more affordable houses and apartments, which could help fill the inventory gap that plagues the housing sector.
Tim Warren’s Golden Jubilee
As Tim Warren Jr. marks 50 years at The Warren Group, colleagues, staff and family reflect on his transformative presence and self.
Citizens Bank, BofA Close Some MA Branches in November
Bank of America is closing three of its branches in Greater Boston while Citizens Bank continues to replace branches in grocery stores with video teller-enabled interactive teller machines.
FDIC-Insured Banks Saw Decline in Combined Net Income in Q3
The nation’s FDIC-insured banks saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
Pentucket Bank Hits $1B in Assets
Haverhill-based community bank Pentucket Bank has reached $1 billion in assets, as it grew in its Massachusetts and New Hampshire markets with the help of its recent holding company merger with Newburyport Bank.
Top Fed Official Hints at Spring Rate Cut
A key Federal Reserve official raised the possibility Tuesday that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily.
CFPB Orders Bank of America to Pay $12M for False Reporting of Mortgage Data
The Consumer Financial Protection Bureau has ordered Bank of America to pay a $12 million penalty for falsely reporting mortgage applicants’ data from 2016 to 2020.
Banks Still Haven’t Closed Racial Gaps in Business Lending, Researcher Finds
New research sponsored by The Boston Foundation finds that, even after the pandemic put racial disparities in business lending into stark relief, Massachusetts entrepreneurs of color are still struggling to access capital.
Personnel File – No. 352
Bowditch & Dewy LLP Boston law firm Bowditch & Dewy has hired Matthew Ray for its business and finance and commercial real estate practice groups as a partner. Bristol County Savings Bank Bristol County Savings Bank said it has hired Kelly Masefield to be a...
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