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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)
Thursday
Feb052015

Financial Institutions . . . In the News

  • Beginning January 2015, Bob Quentin became President of Saco & Biddeford Savings Institution.  CEO Kevin Savage will retire in May 2017.  (Mainebiz 1.22.2015)
  • Mobile banking redefines traditional banking needs.  (New York Post 1.25.2015)
  • New Hampshire state Banking Department and the FDIC are reviewing Bedford, NH’s Primary Bank’s applications to form a new bank.   (NHBR 1.23.2015)
  • Scammers posing as IRS trick Mainers to send money.  (Sun Journal 1.27.2015)
  • A holding company formed by Mechanics Savings and Biddeford Savings seeking approval from regulatory agencies.  (PPH 2.4.2015)
  • Attorney General Janet Mills announces that Maine will receive $21.5 million from Standard & Poor in settlement for unfair and deceptive trade practices.  (BDN 1.4.2015)