Chase Opens Cambridge Branch, 400th in Multi-State Expansion
Chase Bank’s massive, five-year branch expansion campaign reached a crescendo yesterday in Harvard Square when it opened its 400th branch since the project was announced in 2018.
Chase Bank Bug Causes Double Transactions, Fees
Customers of Chase’s online banking services were seeing double transactions, fees and/or payments in their accounts, with the situation not immediately being resolved as of late morning on Friday.
JPMorgan Promised First Republic Workers ‘Clarity’ on Jobs By May 31
For any Massachusetts banks hoping to lure away former First Republic workers and their client relationships, it appears that next Wednesday could be the magic day.
First Republic Bank Seized, Sold to JPMorgan
San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history.
Chase Grows Market Share with International Firms in Mass.
As JPMorgan Chase continues its expansion in New England, the global bank has also expanded its reach with multinational companies operating in the region.
Lenders Use CDs to Play Deposit Defense
Faced with pressure to pay higher rates, banks and credit unions are turning to special offers – with rates sometimes 3 percent or higher – to lock in deposits.
Business Lending Is Still Good Business
Inflation is at a historic high, the Federal Reserve has raised its benchmark interest rate 2.5 percent in six months and talk of recession is in the air. Yet businesses’ appetite for debt didn’t dim in Q2.
M&T, Citizens, Santander Pass Fed Stress Test
The nation’s largest banks, including many key to the New England economy, have strong capital levels and would be able to continue lending to households and businesses during a severe recession, according to the Federal Reserve’s annual stress test.
Financing Will Preserve 116 Affordable Apartments in Chelsea
A $25.35 million tax-exempt bond from MassDevelopment will be used by a nonprofit to acquire and modernize 116 affordable apartments in Chelsea.
Personnel File – No. 266
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
When Is a Branch Not a Branch?
While the shift to digital banking has led lenders to close branches across New England, Berkshire Bank and Chase Bank are investing in their brick-and-mortar locations as tools to address financial issues and inequities highlighted by the pandemic.
Lenders Confront Cautious Business Borrowers
COVID-19 vaccines have started landing in the arms of Massachusetts’ first responders and nursing home residents. But for now, businesses remain cautious about expansion plans for 2021, changing the characters of some banks’ commercial loan portfolios and increasing their share of real estate loans.
House Demands PPP Loan Info from Treasury, Banks
A House subcommittee investigating billions of dollars in coronavirus aid is demanding that the Trump administration and some of the nation’s largest banks turn over detailed information about companies that applied for and received federal loans intended for small businesses.
Will Chase’s Mortgage Pullback Spread to Other Lenders?
As mortgage servicers confront liquidity issues caused by the coronavirus pandemic, the industry is waiting to see whether recent moves by lenders and investors would exacerbate the crisis and restrict borrowers’ access to credit.
Virus Starts to Take Toll on Bank Earnings
With banks starting to release first quarter earnings this week, early results show the potential extent of the coronavirus’ impact on both local community banks and international titans of finance.
Chase Home Loans Now Require 20 Percent Down
One of the country’s biggest banks and a major player in the Massachusetts mortgage market is dramatically increasing requirements for borrowers looking to buy or refinance a home in the face of the coronavirus pandemic.
To Diversify Financial Services Industry, Start at the Top
As a senior leader managing my own department, I know firsthand the importance of taking on a mentee and lifting our employees up. To change the landscape of leaders we need to step up and guide employees to achieve their best potential.
Chase Gets Contract for ATMs in MBTA Stations
This summer, expect to see new ATMs at many MBTA stations, topped with the logo of a bank that’s making a major push to expand its business in New England.
Two More Chase Branches Approved for Mattapan, Burlington
JP Morgan Chase has received approval to open two more branches as part of its expansion in the Greater Boston area.
People’s United, Rockland Grow Deposit Market Share Following Mergers
Following recent acquisitions, both Rockland Trust Co. and People’s United Bank have seen their share of Massachusetts deposits grow, while Chase’s branch expansion strategy appears to be paying off.
