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Financial Institutions...In the News

  • Interview with Samuel Ladd III, retired vice chairman of Maine operations for People’s United Bank.  (Portland Press Herald 4.17.14)
  • John C. Marsh Jr., senior vice president of Bath Savings Institution, appointed to MaineHousing board by Gov. Paul LePage.  (Maine Biz 4.17.14)
  • Farm Credit of Maine merged with Farm Credit East, a six-state agricultural, timber and logging, and commercial fishing industry financial institution.  (Maine Biz 4.21.14)
  • Home sales increased 12.6% in Maine with the largest increase in the Greater Portland area. (Portland Press Herald 4.27.14)
  • Small business FAME bonds to be voted on in November.  (Portland Press Herald 5.2.14)
  • Mortgage lenders ease loan requirements for borrowers.  (Portland Press Herald 5.2.14)
  • Financial institutions’ prosecutions are being pursued by U.S. Justice Department.  (Bangor Daily News 5.5.14)

Financial Institutions....In the News

  • Christopher Whalen (NY investment banker) shares his views on the attitude of the mortgage business.  (HousingWire 3.28.14)
  • Thomas Cox responds to Christopher Whalen’s commentary.  (HousingWire 3.28.14)
  • Low interest rates are still needed to help the job market says Fed Chair Janet Yellen.  (Press Herald 4.1.14)
  • TD Bank is focusing on human and convenient banking calling the program the "Human Truths of Banking."  (Gnomes 3.31.14)
  • Structure changes in the works for Kennebec Savings Bank.  (Kennebec Journal 4.14.14)
  • New laws in Maine will improve the foreclosure process by expediting procedures for abandoned properties and strengthening the role of mediators.  (Maine Biz 4.14.14)

FDIC to Banks: Be Vigilant about Cyber-Security

Earlier this month, the FDIC issued guidance to financial institutions to help them address risks associated technology outsourcing and cyber security. On April 7th, the FDIC issued FIL-13-2014 entitled “Technology Outsourcing: Informational Tools for Community Bankers.” Three days later, on April 10th, the FDIC issued a press release entitled “FDIC Urges Financial Institutions to Utilize Available Cyber Resources.”

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Bank Regulators Warn About Cyber-Attacks

On April 2, 2014, the FDIC issued a Financial Institution Letter notifying banks of recent “large dollar” ATM fraud and related cyber-attacks aimed at tapping into web-based control panels for ATMs. The FDIC highlighted a recent $40 million theft involving the use of 12 debit card accounts. The FIL included guidance for financial institutions related to reducing financial and other risks associated with cyber-attacks.

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Financial Institutions . . . In the News

  • Consumer confidence still high as national home sales dropped in February.  (Bangor Daily News 3.25.2014)
  • Proposed bill would exempt insurance firms from same capital and liquidity requirements imposed on banks.  (Bloomberg Businessweek 3.11.2014)
  • Maine’s Bureau of Consumer Credit Protection releases new mortgage guide, “The Downeaster Common Sense Guide to Finding, Buying and Keeping Your Maine Home.”  (Maine Real Estate Rama 3.5.2014)