Affordability and Housing Remain Top of Mind for Mass. Biz Outlook
At the Associated Industries of Massachusetts’ annual outlook event surveying the future of the Massachusetts economy, housing affordability and production were top of mind.
OCC Data: Chase, Bank of America Opening, Closing Branches in Mass.
JPMorgan Chase and Bank of America have filed applications to open and close branches in Massachusetts while Citizens Bank completed the closing of some Stop & Shop branches, according to the latest data from the Office of the Comptroller of the Currency.
PNC Bank to Open Two New Branches in Boston Area
PNC Bank recently announced a $1 billion nationwide investment to open more than 100 branches and renovate over 1,200 existing branches through 2028, and Boston is getting two new branches from that plan.
Surveys Say Small Businesses Alert, Yet Optimistic on Growth
With the interest rate hikes expected to persist, U.S. small businesses are still optimistic while still being alert to the impacts that the current economic pressures, according to two bank surveys.
The Economist Who Sees a Recession Coming Despite Economy’s Resilience
Gus Faucher, chief economist at PNC Financial Services Group, has thoughts on whether the economy will remain resilient, and whether the Fed can achieve a notoriously difficult “soft landing.”
Survey: Business Owners Remain Optimistic
About half of small and mid-size business owners and executives recently surveyed by PNC remain optimistic about the near-term future of their businesses despite inflation, supply chain disruptions and political and geopolitical uncertainties.
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.
PNC Launches Group to Support Minority-Owned Businesses
PNC Bank has launched a minority business development group that the bank said will provide products and resources to support the financial wellness of emerging minority businesses.
PNC Bank to Raise Minimum Wage
PNC Bank will raise its minimum pay rate by 20 percent in November to $18, joining other banks and credit unions that have raised minimum wages this year.
PNC Launches Tool to Reduce Overdraft Fees
PNC Financial Services Group Inc. has created a new digital tool to help customers avoid overdraft fees, with a pilot program showing that the tool helped reduce these fees by more than 60 percent.
Firms Make Strong Start on DEI
The local real estate and banking industries are big ships that turn slowly. But when they begin to move, as the many actions featured in this week’s issue of Banker & Tradesman show, the results are impressive.
Eastern, PNC Join 13 Mass. Lenders to Launch Early Childhood Coalition
Over a dozen Massachusetts banks are part of a group of 70 Massachusetts CEOs and business leaders that have launched a coalition to focus on early child care and education: the Massachusetts Business Coalition for Early Childhood Education.
PNC Bank Opens Dedham Branch
PNC Bank continues its expansion in the Greater Boston area with the opening today of a new branch in Dedham.
PNC Moves Forward with Boston Expansion
PNC Bank plans to open its first Boston-area branches this fall, following through on its expansion even as the coronavirus pandemic has upended how banks operate.
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.
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.
PNC to Open First Retail Branch on Boylston Street
PNC Bank has selected a former restaurant on the Back Bay’s Boylston Street as the site of its first Boston retail branch.
PNC Bank Hires Regional President, Plans Boston Expansion
Pittsburgh-based PNC Bank is expanding its presence in the Boston market.
Dello Russo Takes Over As CEO At Bridgewater Savings
Bridgewater Savings Bank recently announced a series of promotions made official at its 145th annual meeting, including that of its new president and CEO Peter Dello Russo.
Cambridge Developer Kicks Off Braintree TOD Project
Cambridge developer Joshua Katzen has begun construction of Landing 53, a 172-unit transit-oriented development near the MBTA’s Weymouth Landing-East Braintree commuter rail station.
