Pennrose Gets $33M Construction Loan for Allston Development
An Allston mixed-use project received $32.9 million in construction financing for the 88-unit housing component.
CFPB Drops Enforcement Against Capital One, Rocket Homes and More
The Consumer Finance Protection Bureau has dropped several enforcement actions against lenders, just weeks under new leadership and turmoil at the agency caused by orders from Trump administration.
Coffee, Sculptures and Advice: Banks Try to Make Branches Less Intimidating
After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch.
Mismatch Seen Between Advice Businesses Want from Banks and What They Get
While three-quarters of U.S. small businesses want to receive financial advice from their bank, most do not receive the kind of comprehensive advice that would help a small business grow, according to a recent study from J.D. Power.
New York AG Says Trump’s Company Misled Banks on Buildings’ Values
The New York attorney general’s office late Tuesday told a court its investigators have uncovered evidence that former President Donald Trump’s company used “fraudulent or misleading” asset valuations to get loans and tax benefits.
KKR Buys Seaport High-Rise for $332M
A year-old Seaport District apartment tower touted for its high-tech resident amenities has been acquired by New York-based Kohlberg Kravis Roberts Inc. for $332 million.
Internet Banks Give Local Lenders National Stage
When Holyoke-based PeoplesBank launched a digital-only bank earlier this year, it wanted to find customers – not in its local market, but in Alaska and Wisconsin.
Study: PPP, Size Affected Small Business Satisfaction with Banks
Small businesses reported more satisfaction with banks during the pandemic compared to previous years, according to a recent J.D. Power survey, but the size of the business and success with the Paycheck Protection Program affected satisfaction.
Capital One Fined $80M in Data Breach
The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.
Fidelity to Spin Off Important Financial Data Network Akoya
The parent company of Fidelity Investments had announced the spin-off of Akoya as an independent company that will be jointly owned by Fidelity, The Clearing House Payments Co. and 11 of its member banks.
Data Breaches Increasingly Common, Raising Risk for Consumers
Data breaches through hacking attacks are distressingly common these days, and personal details about victims can lead to identity theft, such as credit cards and loans in a victim’s name. But it’s hard to pin the blame on any specific hack, as the most sophisticated criminals combine data from multiple attacks to better impersonate their targets.
Capital One Target of Massive Data Breach
A security breach at Capital One Financial, one of the nation’s largest issuers of credit cards, compromised the personal information of about 106 million people, and in some cases the hacker obtained Social Security and bank account numbers.
Investor Pays $23.5M For ‘Bite-Sized’ Piece Of Seaport
Boston Global Investors, the development firm that led the master planning for the 6.3-million-square-foot Seaport Square development in Boston, has sold 55 Seaport Blvd.
Capital One Exits Mortgage Loans Business, Cuts 1,100 Jobs
Capital One Financial will stop issuing mortgage and home equity loans and cut some 1,100 jobs amid rising interest rates that have pushed away borrowers and slowed loan growth at many U.S. regional banks.
