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Tuesday
Apr282015

Financial Institutions . . . In the News

  • A suit was filed against Quicken Loans by the Department of Justice for mortgage misconduct.  (Maine News Online 4.27.2015)
  • Deutsche Bank agreed to $2.5 billion settlement and other sanctions for fraud and anti-trust charges. (Maine Mirror 4.24.2015)
  • US banks plan to issues more microchip debit and credit cards to help prevent fraud.  (Mainebiz 4.20.2015)
  • Maine’s foreclosure inventory continues to decline.  (Benzinga 4.19.2015)
  • The MERS (Mortgage Electronic Registration System) is strongly being debated in Augusta.  (The Free Press 4.16.2015)
  • Some banking systems in Europe paying customers to take out loans.  (MPBN 4.14.2015)
Monday
Mar302015

Financial Institutions . . . In the News

  • Small Business Administration names Bangor Savings Bank the Top Lender in 2014, working with 87 businesses totaling more than $9.3 million in loans.  (The Spectator.com 3.26.2015)
  • TD Bank plans to increase United States’ location through acquisition of 25 to 30 branches each year.  (Reuters.com  3.26.2015)
  • IRS scammers becoming more aggressive in tactics to cheat people out of money.  (BDN 3.25.2015)
  • Mortgage bonds shows that 2015 refinancing was not as strong as previously anticipated.  (BDN 3.2.2015)
  • Bangor Savings Bank plans continued growth in Southern Maine.  (Mainebiz 2.23.2015)
  • Maine Housing’s new Advantage Program assists first-time homebuyers with a low interest rate and money for closing costs.  (RealEstateRama 2.24.2015)
Monday
Mar022015

10 Things You May Not Have Known About Promotion Marketing

The following advisory was authored by Verrill Dana Partner Robert Laplaca, Chair of the Firm's Promotion Law practice.

  1. Practically every type of promotional activity is regulated in some way:
    1. Sweepstakes and contests;
    2. User generated content on websites and social media;
    3. Coupons, gift cards and money-back guarantees;
    4. Charitable solicitations;
    5. Celebrity endorsements or other testimonials;
    6. Marketing to children; and
    7. Even trying to give something away for “free”
       
  2. You need official rules for every sweepstakes and contest you conduct.  They form a binding contract with the entrants that will help protect you in the event of a dispute.

    EXAMPLE: When Kraft mistakenly produced too many winning game pieces for its “Ready to Roll” sweepstakes, they were protected by having a clause in the rules stating they were not liable for printing or production errors.

Click to read more ...

Thursday
Feb262015

Verrill Dana's "Wine and Wisdom" Event

 

Learn about Retirement and Alimony Reform in Massachusetts!

 

  

 

 

Thursday
Feb262015

Financial Institutions . . . In the News

  • Gorham Savings Bank President Chris Emmons appointed to FDIC Advisory Committee on Community Banking.  (Dodd Frank Update 2.20.2015)
  • Conversation with Peter Judkins, President and CEO of Franklin Savings Bank, recently appointed to the Federal Reserve Bank of Boston.  (PPH 2.11.2015)
  • Co-Branded credit cards leave little profit margin for banks.  (BDN 2.13-2015)
  • Hackers using malware sent to employees to gain access to bank’s computers.  (New York Times 2.14.2015)
  • Slow electronic payments causes some consumers high overdraft fees.  (MPBN 2.18.2015)
  • Americans debt increased in final three months of 2014.  (News Maine 2.18.2015)
  • Careful consideration is necessary before applying for a reverse mortgage.   (Keep Me Current 2.18.2015)