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Monday
Jan302017

Financial Institutions . . . In the News

  • Maine Governor driving bill to block foreclosure action against Maine’s elderly. (PPH 1.29.2017)
  • Norway Savings Bank announces promotions of Dan Walsh, Janice deLima, Ian Pullen, Elysia Avery, and Donny Hinkley.  (Sun Journal 1.23.2017)
  • New jobs created by the finalization of the merger of Bar Harbor Bank & Trust and Lake Sunapee Bank Group.  (Mount Desert Islander 1.19.2017)
  • Elderly affected by tax foreclosure sales than other groups.  (Bloomberg BNA 1.19.2017)
  • Federal Reserve Bank of Boston, Jeffrey Fuhrer, anticipates that there will be three 0.25 percentage point interest rate hikes in 2017   (Mainebiz 1.17.2017)
  • Foreclosure inventory in Maine is among the highest in the nation at 1.7%.  (Mainebiz 1.12.2017)
  • People’s United Bank, N.A. and AARP Fraud Watch Network join forces to help protect against identity theft and scams.  (Yahoo Finance 1.12.2017)
Tuesday
Jan242017

New Basel III Rules for Loans to High Volatility Commercial Real Estate Projects

The 2016 Winter Business Edition of Best Lawyers includes an article entitled "Basel III and New Challenges for Lending to Commercial Development." The article, which is available here, was co-authored by Verrill Dana lawyers Mark Googins and Doug Britton. The article provides a brief overview of one component of the new Basel III rules, which the article describes as “a voluntary global regulatory framework” implemented in the US by the OCC, Federal Reserve Board, and the FDIC.

Click to read more ...

Monday
Jan232017

2017 Maine Legislature to Take Up Bills Impacting Banking, Business, and State Budget

On Friday, January 6, Maine Governor Paul LePage released his biennial general fund budget for 2018-19. Three days later, on Monday, January 9, the Maine Legislature made available its list of proposed bill titles for the first regular session of the 128th Maine Legislature. And, in the world of banking, there are a range of proposed bills likely to affect the financial services industry that we expect to come forward.

Click to read more ...

Thursday
Jan122017

Financial Institutions...In The News

  • Retired President and CEO Mark Johnston of Kennebec Savings Bank was awarded the Peter G. Thompson Lifetime Achievement award by the Kennebec Valley Chamber of Commerce.  (Central Maine 1.4.2017)
  • TransUnion and Equifax fined approximately $23 million for false advertising regarding credit score reports.  (Central Maine 1.3.2017)
  • Fifth Third Bank is not allowed to make acquisitions because of low grade in July 2016 Community Reinvestment Act review.  (Cincinnati 12.29.2016)
  • University of Maine is offering assistance to students and employees who provided passwords to cybercriminals by means of trickery.  (My San Antonio 12.23.2016)
  • Maine Municipal Bond Bank’s 2017 Ser. A Bonds rated as Aa2 by Moody’s.  (4-traders  12.20.2016)
  • Bank teller reports suspicion of elder financial abuse by attorney who had a  Power of Attorney.  (BDN 12.20.2016)
  • Mortgage Servicing Solutions will now service MaineHousing mortgages providing benefits to MaineHousing and its mortgage holders.  (BDN 12.12.2016)
  • Bangor Police Department is working with Bangor Savings Bank in Belfast after skimmer was discovered on ATM.  (BDN 12.10.2016)
Friday
Dec092016

Financial Institutions....In the News

  • Early in 2017, the U.S. Supreme Court (Expressions Hair Design v. Schneiderman) will hear arguments related to the credit card fees businesses are required to pay.  (BDN 11.29.2016)
  • In the Portland area, national banks are on the decline while community banks have increased their presence.  (Mainebiz 11.30.2016)
  • Camden National Bank’s services now include 24-hour customer service to help with fraud protection.  (Mainebiz 11.30.2016)
  • The Department of Labor’s fiduciary rule which takes effect on April 10, 2017 is being embraced by Maine banks.  (Mainebiz 11.28.2016)
  • A recent study of fraud and identity theft by WalletHub shows that Maine has less fraud and identity theft than most other states.  (Mainebiz 12.5.2016)
  • Since 2010, bankruptcy filings in Maine have been steadily decreasing but experts warn more bankruptcies may bubble up in the future.  (Central Maine 12.3.2016)