A new program at Chelsea-based Metro Credit Union will pay branch and service center staff – both new hires and existing employees who apply for the program – a minimum annual salary of $50,000, higher than some of the recent wage adjustments made by large national banks.
For months, Chair Jerome Powell has held out hope that the Federal Reserve will be able to raise interest rates high enough to throttle rampant inflation without tipping the economy into recession.
The Consumer Financial Protection Bureau has fined Bank of America $10 million for processing what the agency said were illegal, out-of-state garnishment orders against its customers’ bank accounts.
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Two years after the start of the pandemic drove more customers to adopt digital banking when branch lobbies closed, a recent study found that Boston has one of the highest increases in branch closings among U.S. metropolitan areas.
Major gifts from banks and credit unions helped homeless youth, families who recently lost their homes in fires and more recently.
From huge gifts to help entrepreneurs build their businesses to scholarships for their communities’ kids, local banks and real estate companies gave back in a lot of ways recently.
Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.
Berkshire Bank has named former TIAA and Bank of America executive Nina Charnley to its board of directors.
From a $20 million gift to the donation of 25 employees’ time, CRE firms, banks and credit unions gave back in big ways recently.
Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won’t likely recoup.
The deposit surge that began in the early days of the pandemic continued this year, according to the FDIC’s annual report on bank deposits, with Massachusetts seeing a 34 percent since 2019.
Bank of America Vice Chair Anne Finucane, who joined the company after its acquisition of Fleet Bank, will retire at the end of the year, Bank of America said in a statement yesterday.
Bank of America’s customers now mostly use digital channels rather than teller lines to make deposits as the bank continues to see digital engagement grow.
Trinity Financial now has the money it needs to begin building the second phase of its 224-unit Enterprise Center multifamily development in downtown Brockton after closing a deal with MassHousing.
Some homebuyers, even those who absolutely adore their places, have “buyer’s remorse” – second thoughts about their purchase.
The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from inflation to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer.
Pittsfield-based Greylock Federal Credit Union has joined other businesses and financial institutions in evaluating the wages for employees in their lowest-paying jobs.
While most Boston small business owners who participated in a recent Bank of America survey tapped into various funding sources during the pandemic, just 7 percent used a traditional bank loan.
Bank of America plans to set the minimum wage for all positions at the company to $25 an hour by 2025.
