On May 8th, 2014, the FDIC released a Resource Guide to help banks meet their community credit and development goals, as required under the Community Reinvestment Act. The Resource Guide focuses on opportunities to work with community development financial institutions (CDFIs).
- 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)
- 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)
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.”
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.