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.
Chase Bank has opened a new community center in Mattapan as part of the its nationwide initiative to address systemic racism in what JPMorgan Chase CEO Jamie Dimon described as a permanent and sustained effort by the bank.
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.
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.
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.
Members of the banking and real estate industries were on the move in recent weeks. See who’s been hired and promoted in this week’s Personnel File.
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.
Roxann Cooke is the New England regional director of JPMorgan Chase, which recently made a big splash in the state by pledging to open 50 retail branches in the Greater Boston area. Approximately 30 percent of branches will be in low- to moderate-income communities.
The newest product from Chase is likely to catch the eye of small business owners.
Eastern Bank’s insurance group today announced that it had acquired the assets of a full-service insurance agency in Newburyport.