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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)

Financial institutions . . . In the News

  • Maine’s Northeast Bancorp gains prior Obama Cabinet member.  (Bangor Daily News 1.24.2014)
  • Maine banks and credit unions collaborate on training and education to stop elder financial abuse.  (Bangor Daily News 2.10.2014)
  • Federal banking changes allow Maine medical marijuana sellers access to banks.  (Maine Public Broadcasting Network 2.14.2014)
  • Fixed rate mortgages rise in U.S.  (Portland Press Herald 2.21.2014) 
  • Fannie Mae repays taxpayer bailout with $7.2 billion dividend.  (Kennebec Journal 2.21.2014)
  • U.S. Government receives about $9 million more from Fannie Mae than it drew from the government.  (Bangor Daily News 2.23.2014)
  • Maine home sales in January 2014 increased 8.6% over sales in January 2013.  (Portland Press Herald 2.21.2014)
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