- Four branches of Bangor Savings Bank will close and consolidate with other branches. (WMTW 12.5.2015)
- In December, Kennebunk Savings Bank welcomed Alyson Graybill and William Dehais to the bank. (Fosters 12.6.2015)
- Senior$afe, a program to fight financial abuse of seniors, resulted in the reporting of 30 suspected cases since its inception by the State in 2014. (Mainebiz 12.28.2015)
- Washington and Cumberland County are the only two counties that saw an income increase since 2000. (BDN 1.25.2016)
- People’s United Bank, the seventh largest bank in Maine, announced its new Maine headquarters will be located on Fore Street in Portland. (Manebiz 1.25.2016)
- Unemployment for December 2015 in Maine was the lowest in 15 years at 4.0 percent. (Portland Press Herald 1-26-2016)
- Tony McKim, President of The First, N.A., announced the bank is changing its name to the First National Bank. (The Ellsworth American 2.1.2016)
Verrill Dana's Labor & Employment attorneys will host a full-day seminar on January 27 to update you on recent legal developments and provide you with the resources you need to succeed in 2016.
The registration fee for this seminar is $175 per person (includes valet parking, breakfast & lunch). The deadline for registration is Tuesday, January 20. No refunds will be given for cancellations after that date.
Continuing education credits for this program are pending approval.
Please join us for happy hour from 4:00 - 5:00 PM at Top of the East immediately following the program!
A limited number of reduced rate rooms are available.
Please contact Ann Blanchard at email@example.com for details.
Verrill Dana would like to invite you to the opening of our newest blog, You Might Be a Winner, which will be moderated by our resident promotions law guru, Rob Laplaca. We plan to use this blog to keep you updated on the latest developments in sweepstakes, contests, commercial co-ventures and similar topics.
You can always check out the blog at www.youmightbeawinner.com (catchy name, right!) OR
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In a November 2015 interview with MaineBiz news magazine, Maine Bankers Association President Chris Pinkham listed the top five issues that he believed were priorities for Maine’s banking industry. His list includes, in order:
- Addressing cybersecurity and fraud issues with the EMV chip. Pinkham cautioned that chip technology is encrypted, but transactions on the Internet remain at risk. He also noted that customers still needed to check their statements; merchants needed to install the right equipment; and card manufacturers needed to “beef up” production to get the cards out there.
- The growth of residential mortgage closing documents as a result of the integration of Truth in Lending and Real Estate Settlement Procedures Act disclosures. Pinkham noted that the closing package had grown from 105 pages to 120 pages as a result.
- Regulatory relief was needed for small banks that are less complex. Pinkham also suggested ways to reduce the frequency with which privacy notices are sent to customers.
- Encouraging more partnerships between banks and the community, including efforts to reduce elder financial fraud. Pinkham pointed to a new “Senior Safe” program that had trained 125 tellers to better identify instances of fraud, and an 800-number to report.
- Addressing student loan debt. The weight of student loan debt is hurting families, and he encouraged policies that allowed for the consolidation of student debt or other incentives for Maine graduates to stay and work in Maine.
The full article from MaineBiz, published November 30, 2015, can be found here.
- Kennebunk Savings Bank promotes Dennis Byrd to Senior Executive Vice President, COO, Lynn Howe to Executive Vice President, Chief Sales and Delivery Officer, and Jill Peter to Executive Vice President, Chief Risk Officer. (Fosters 10.25.2015)
- FICO scores in the future may be determined by social media and telecom and utility bills. (MPBN 11.5.2015)
- Reviews by federal regulators show 9.5% of high-risk loans totals $3.9 trillion. (Central Maine 11.5.2015A)
- Consumer advocates oppose Federal House bill that changes mortgage regulations. (The Hill 11.17.2015)
- Identity theft is the most common and least reported crime in Maine. (BDN 12.1.2015)
- Preparing now could save you money before Federal Reserve raises interest rates. (BDN 12.1.2015)