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Monday
Oct292018

Financial Institutions . . . In the News

  • Michael Griffin, Executive Director of JP Morgan Chase & Co., leads a new commercial banking industry in Portland.  (Mainebiz 10.26.2018)
  • Maine Harvest Credit Project becomes Maine’s 56th credit union and first exclusively for farmers and food producers.  (Mainebiz 10.16.2018)
  • Maine home foreclosures continue to decline.  (BDN 10.11.2018)
  • Curtis Simard, President and CEO of Bar Harbor Bankshares, announces plans are being made for a Portland Commercial Loan Office.  (Mainebiz 10.5.2018)
  • Andrew Silsby, President and CEO of Kennebec Savings Bank, discusses banking in today’s market and preparing for the future.  (Central Maine 10.14.2018)
  • Wells Fargo customer avoided being scammed by calling the number on the back of his card to verify the fraud.  (News Center Maine 9.28.2018)
  • Mortgage applications increase as the rates also increase to a new high since April 2011.  (Press Herald 9.27.2018)
  • Wells Fargo & Co. Chief Executive Tim Sloan announces a 10% reduction in workforce in the next three years.  (Press Herald 9.20.2018)
  • A data breach in 2017 in the UK resulted in a fine of £500,000, or about $662,000 to Equifax (UK branch).  (The Hill 9.20.2018)
  • With the restrictions of the Dodd-Frank Wall Street Reforms being eased, banks and credit unions are picking up arguing over old disagreements.  (The Hill  9.12.2018)
  • Cloned ATM cards could be used in ATM cybercrime threat.  (News Center Maine 8.16.2018)
Wednesday
Aug152018

Financial Institutions . . . In the News

  • FBI issues warning of potential cybercrime that could be worth millions stemming from fraudulent ATM cards. (News Center Maine 8.14.2018)
  • Bank mergers and acquisitions are lower in the Northeast than in other regions.  (American Banker 7.30.2018)
  • President and CEO Bob Montgomery-Rice announces the opening of the first building at the Bangor Savings Bank’s waterfront headquarters.  (BDN 8.1.2018)
  • Jeanne Hulit is promoted to President and CEO of Maine Community Bancorp which is comprised of Biddeford Savings Bank and Mechanics Savings Bank. (Central Maine 7.30.2018)
  • Raymond T. (Chip) Kelley of KeyBank to fill the position of Maine Market President formerly held by Sterling Kozlowski. (Central Maine 7.30.2018)
  • Andrew Silsby, President and CEO of Kennebec Savings Bank, writes letter of appreciation to Congress. (Forbes 7.24.2018)
Tuesday
Jul242018

Financial Institutions...In the News

  • Commercial loans increased for Bar Harbor Bankshares in the second quarter.  (MaineBiz 7.23.2018)
  • President Trump is unhappy with the Federal Reserve increasing interest rates.  (BDN 7.20.2018)
  • Paul Andersen, CEO of Androscoggin Bank, announces Neil Keily as President.  Paul Andersen plans to be the Chairman of Board and Neil Keily take on the responsibilities of CEO and President at the end of 2019. (Sun Journal 7.19.2018)
  • 30-Year mortgage rates are the highest in seven years.  (Central Maine 7.12.2018)
  • Low unemployment contributing to good economy according to Federal Reserve Chairman Jerome Powell.  (PPH 7.12.2018)
  • Eight states including Maine, signed a consent order to require Equifax Inc. to strengthen security measures after 2017 data breach.  (Central Maine 6.27.2018)
  • Patricia Weigel, President and CEO of Norway Savings Bank and Tony McKim, President and CEO of First National Bank were elected President and Vice Chair respectively of the Maine Bankers Association. (Mainebiz 6.20.2018)
  • A June 2018 Report states that risks by large banks involve complex financial trades that helped fuel the 2008 financial crisis.  (Maine Public 6.19.2018)
  • Sterling Kozlowski of Key Bank will be remembered as a leader in the New England region.  (Central Maine 6.11.2018)
  • Maine Credit Union League supports legal cannabis from the threat of federal prosecution.  (Mainebiz 6.11.2018)
  • Legislature sends bill to President Trump to loosen banking regulations set in 2008 in response to the financial crisis.  (PPH 5.22.2018)
  • Romero Rainey, President and CEO of the Independent Community Bankers of America (ICBA), seeks to loosen federal banking regulations.  (The Hill 5.22.2018)
  • Maine banks report new foreclosures steadily decreasing throughout Maine.  (PPH 5.6.2018)
  • Bangor Savings Bank begins new construction of its headquarters on Bangor’s waterfront.  (Mainebiz 4.24.2018)
  • SunTrust breach linked to an employee and outside criminal.  (News Center Maine 4.20.2018)
Friday
Apr202018

Financial Institutions . . . In the News

  • Wells Fargo Bank $1 billion fine is among the largest set by regulators.  (Central Maine 4.19.2018)
  • Federal Reserve Chairman Jerome Powell maintains that slow and steady increases in rates is the right course of action to strengthen the economy.  (PPH 4.7.2018)
  • Lake Sunapee Bank in New Hampshire will now be known as Bar Harbor Bank & Trust.  (Valley News 4.8.2018)
  • Maine’s banking industry is seeing changes in leadership as women take on more executive roles.  (Mainebiz 4.4.2018)
  • A warning from Maine’s Bureau of Financial Institutions is issued due to scammers deceiving bank customers and credit union members.  (Central Maine 4.2.2018)
  • Elderly Mainers are an easy target for financial abuse which often goes unreported.  (BDN 3.29.2018)
  • Maine credit unions continue to attract new members.  (Central Maine 3.28.2018)
  • President and CEO Bob Montgomery-Rice of Bangor Savings Bank announces a new branch office in Portsmouth, NH.  (Mainebiz 3.23.2018)
  • Community Credit Union President and CEO Jennifer Hogan reports the credit union will stay at 144 Pine Street in Lewiston.  (Sun Journal 3.7.2018)
  • Maine banks benefited from a strong economy and stock market resulting in 2017 being a good year.  (The Ellsworth American 3.4.2018)
Monday
Mar052018

Financial Institutions . . . In the News

  • Maine banks encountered a positive 2017 and 2018 looks promising.  (The Ellsworth American  3.5.2018)
  • Federal Reserve Chairman Jerome Powell plans gradual increase in interest rates.  (PPH 3.1.2018)
  • Equifax breach affected 147.9 million consumers which is more than initially reported.  (BDN 3.1.2018)
  • Lincoln J. Merrill becomes chairman of MaineHousing’s board of commissioners.  (MaineBiz 2.27.2018)
  • New tax laws means Fannie Mae will need to request taxpayer funds from the US Treasury.  (PPH 2.14.2018)
  • Small businesses are seeking capital funding from big banks and lending institutions.  (The Washington Post 2.12.2018)
  • The National Cannabis Industry Association pursues new banking regulations to include legalized marijuana.  (PPH 2.8.2018)
  • Waldo County employees may have been impacted by a phishing attack which compromised employee’s confidential information.  (Central Maine 2.7.2018)
  • Bill to protect elderly from property foreclosure action is backed by Governor LePage.  (Central Maine 2.6.2018)
  • York County Federal Credit Union and Atlantic Federal Credit Union plan to merge and, once the merger is approved, it will operate under the name of Atlantic Federal Credit Union.  (Central Maine 2.5.2018)
  • Wells Fargo is restricted from increasing its assets beyond 2017 level without Federal Reserve’s permission.  (Central Maine 2.4.2018)
  • Past Federal Reserve Chairwoman Janet Yellen joins the Brookings Institution as a distinguished fellow in residence at the Hutchins Center on Fiscal and Monetary Policy.  (Central Maine 2.2.2018)
  • George Gervais nominated for Director of Maine State Housing Authority.  (MaineBiz 2.2.2018)
  • Camden National Bank opens a second office in New Hampshire.  (BDN  2.4.2018)