Massachusetts Bankers Testify for Financial Literacy Requirement
Over 200 Massachusetts banks have come together with hopes of making personal finance education a state high school graduation requirement.
Innovation Summit Showcased the Frontier of Banking Tech in Mass.
It’s clear the possibility of ensuring everyone is never far from high-quality digital banking services is within reach.
Real Estate Groups, Chambers of Commerce Urge Senate to Skip Transfer Taxes
The top banking and real estate groups in Massachusetts have teamed up with a pair of business groups to plead with state senators to pass on proposed new real estate transfer taxes.
Mass. Bankers Supports Lawsuit Over ‘Counterproductive’ CRA Rules
The Massachusetts Bankers Association is voicing support for a lawsuit filed by national bank trade groups earlier this week over stringent and what the national groups call “counterproductive” changes made to Community Reinvestment Act rules.
Office Sector Weakness Stirs Questions About Loans
Even as 1 in 6 square feet of downtown Boston office space sits available for lease, local banks have said that any trouble in their urban office loan portfolios will be easy to contain. But questions are being raised about how much longer that will be the case.
Study Flags Big Value Declines at Mortgaged U.S. Office Properties
A new academic paper claims nearly 1 in 2 office real estate loans in America have negative equity, raising questions about some banks’ financial health. But the state banking trade group is pushing back against the latter idea.
Pause Bill Would Let Banks Delay Suspicious Transactions
Secretary of State William Galvin urged lawmakers Tuesday to act quickly to address what he said is an uptick in scams targeting senior citizens and other vulnerable people.
As Margins Shrink, Mass. Banks Wait for Clarity on Section 1071 Rule
A proposed bank regulation intended to highlight any existing racial discrimination in small business lending is being met with resistance by local and national banks who say their finances are under pressure.
New Leadership Elected at Mass. Bankers
Bluestone Bank’s president and CEO will be the next the board chair for the trade group representing the state’s banks. Several other top names in the local banking industry also assumed leadership roles on the group’s board.
Bank Failures Bring Turmoil, Opportunity
With the failure of First Republic Bank coming weeks after March’s unexpected bank failures, the banking industry will likely continue to see short- and long-term effects from the turmoil, local executives say.
Community Good Works
City Realty Group Managing Partners Fred Starikov and Stephen Whalen visited the AME Zion Church in Boston, part of Boston-based CRG’s yearly tradition of donating turkeys and pies to help those in need.
CRA Reform Could Bring Bigger Assessment Areas
The latest attempt to renovate the Community Reinvestment Act could pose serious challenges for larger banks that have used online lending to find business over a wide area.
Tug-of-War Brews Over CRA Reforms
Banking trade groups say the latest CRA reform will put smaller lenders at a disadvantage. And advocacy groups think it doesn’t go far enough to help correct redlining’s racial legacy.
O’Connell to Retire from Avidia Bank Next Year
Mark O’Connell, the long-time leader of Hudson-based Avidia Bank, plans to retire next year after 35 years at the bank.
Mass. Bankers Takes Steps to Guide Industry DEI Efforts
With a history of leadership dominated by white men and lending practices that ended up contributing to inequity, many banks need help to elevate their DEI game, industry leaders say.
Avidia Bank’s O’Connell Named Mass. Banker’s Next Chair
The Massachusetts Bankers Association has elected a new chair and six members to its board of directors.
Advocates Push Public Bank on Beacon Hill
Two years into a pandemic that’s highlighted challenges business owners of color face in accessing credit, a group of lawmakers and activists say a new public bank is the answer.
Banks’ DEI Efforts Start to Take Off
A year and a half after protests against racial injustice rocked America, banks’ efforts to respond with concrete action are starting to flower with collaborations between numerous lenders launching in recent months.
Apprenticeship Program Looks to Increase Diversity in Banking
A yearlong apprenticeship program designed to increase diversity in banking has launched in Massachusetts with several local banks participating.
Mass. Bankers Slams Biden OCC Nominee
Citing a proposal they described as “anathema to community banks,” the Massachusetts Bankers Association and 40 other state banking trade groups have signed a joint letter opposing law professor Saule Omarova’s nomination to lead the Office of the Comptroller of the Currency.
