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FDIC Wants to Help Consumers "Save at the Bank," Avoid Fraud

The Spring 2014 issue of the FDIC Consumer Newsletter is now out.  This quarter, the focus is on helping consumers “Save at the Bank.”  The articles include tips for consumers to:

  • Lower their banking fees, including checking fees, lowering mortgage costs, and refinancing consumer loans;
  • Reduce the risk of fraud and theft, and
  • Tips on person-to-person (P2P) payments.

A full color copy of the newsletter is available here

The FDIC’s May 27, 2013 announcement can be found here.


Financial Institutions...In the News

  • Tony McKim will replace retiring President and CEO of First Bancorp, Daniel Daigneault, in 2015.  Maine Biz (5.21.14)
  • Credit Suisse to pay $2.5 billion fine for helping Americans evade taxes.  Bangor Daily News (5.20.14)
  • Chief Regulator plans to keep Fannie Mae and Freddie Mac financially secure as Congress works on remodeling the nation’s housing financing system.  Portland Press Herald (5.14.14)
  • Financial institutions say more changes are needed to speed up the foreclosure backlog in Maine, even as new laws are passed.  Portland Press Herald (5.12.14)
  • New laws in Colorado’s banking regulations allow more flexibility in marijuana purchasesPortland Press Herald (5.7.14)

FDIC Releases Resource Guide to CDFIs 

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).

Click to read more ...


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)