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Entries in Saco & Biddeford Savings Institution (3)

Wednesday
Aug092017

Financial Institutions . . . In the News

  • Elizabeth Hayes, President and CEO of Infinity Federal Credit Union, was recently named one of the Women to Watch in 2017.  (Mainebiz 8.7.17)
  • LEAF Commercial Capital, Inc. is acquired by People’s United Bank.  (PR Newswire 8.2.17)
  • Saco & Biddeford Savings Institution has several new hires and promotions.  (BDN 7.28.17)
  • Bangor Savings Bank’s Portsmouth, NH loan production office opens with plans to increase business services once regulatory approvals are fully acquired.  (Mainebiz 7.25.17)
  • $40 million bitcoin scam uncovered by Bucks County, Pennsylvania police.  (BDN 7.24.17)
  • “Motion Picture Use Only” fake $100 bills show up in three Maine towns.  Deputies warn the public to watch out for “bogus Benjamins” as the bills are easily available online.  (BDN 7.24.17)
  • Hackers obtain over 5.5 million Social Security numbers in ten states by infiltrating a Kansas Department of Commerce data system in March 2017.  (Maine Mirror  7.23.17)
  • Kennebec Savings Bank celebrates its opening of a Freeport branch.  (Mainebiz 7.21.17)
  • Former Bank of America site in Biddeford to become branch office of Bangor Savings Bank in 2018.  (Mainebiz 7.20.17)
  • United States is behind in “wave” payment systems compared to other countries.  (Central Maine 7.17.17)
  • Maine has low inventory and a high demand of houses in southern Maine making this a seller’s market.  (PPH 7.16.17)
  • Homeward Residential Inc. order to pay attorney’s fees was affirmed by Maine Supreme Judicial Court in foreclosure proceeding.  (Legal News Line 7.10.17)
Tuesday
Jul112017

Financial Institutions . . . In the News

  • Thirteen employees at Saco & Biddeford Savings Institution earned certificates and high honor awards this year through the Center for Financial Training and Education Alliance (CFTEA). (BDN 7.10.17)
  • Mainers affected by State government shut-down will have fees cut by TD Bank and credit unions.  (WGME 7.1.17)
  • CEO Bob Montgomery-Rice announces record profits for Bangor Savings Bank fiscal year that ended in March.  (BDN 6.27.17)
  • PNC bank will permanently close the marijuana legalization group organization’s 22-year old accounts because of risks from the Trump administration.  (BDN 6.21.17)
  • Banks and technology companies stocks have a lower return in the second quarter of 2017.  (PPH 5.31.17)
  • Mortgage brokerage company clarifies the services of its role in mortgage lending and that the loan officers at brokerages are highly regulated.  (PPH 5.28.17)
  • Mortgage rates drop to lowest level resulting in a rise in refinancing.  (PPH 5.25.17)
  • April saw Maine home sales 14% lower in April 2017 compared to April 2016.  (Central Maine 5.24.17)
  • The Dodd-Frank regulation and the recession is changing the mortgage lending industry.  (PPH 5.22.17)
  • Merchants Bank, the last of Vermont’s statewide based banks, completes merger with Community Bank opens May 15th as Community Bank.  (Vermont Biz 5.12.17)
Thursday
May112017

Financial Institutions...In the News

  • Foreclosures in Maine decline even with high number of foreclosures reported in 2016. (PPH 5.8.17)
  • The Financial CHOICE Act of 2017 which was recently introduced to the House Financial Services Committee repeals the Durbin Amendment and would save Maine Credit Unions and their members millions of dollars.  (BDN 5.5.17)
  • Maine, along with other states, have issued a cease-and-desist order against Ocwen Financial Corporation to prevent the corporation from acquiring servicing loans and new loans.  (Reverse Mortgage Daily 4.17.17)
  • Frank Abagnale lectures on formerly being a fraudster to now an educator in protecting consumers against scams. (Sun Journal 4.20.17)
  • Melinda Bini, former employee of Wells Fargo Bank, files a lawsuit claiming retaliation for loss of employment for not participating in banking scheme.  (Central Maine 4.17.17)
  • Tim Nightingale, Executive Vice President and Senior Loan Officer at Camden National Bank, becomes new Finance Authority of Maine (FAME) board member.  (BDN 4.13.17)
  • John Stumpf and Carrie Tolstedt of Wells Fargo Bank must return an additional $28 million and $19 million in compensation, respectively, for their roles in “abusive sales practices.”  (PPH 4.10.17)
  • Maine General Health warns of scam offering to reduce debt in exchange for credit card information.  (Central Maine 4.7.17)
  • Maine credit unions grow by 20,000 new members in 2016 to 685,926 members and loans surpassing more than $456 million.  (BDN 4.4.17)
  • Androscoggin Bank launches a Fast Response Business Loans Platform that allows businesses a quick response for loans related to credit lines and financial growth.  (Mainebiz 3.29.17)
  • Bob Quentin, President, CFO, and treasurer of Saco & Biddeford Savings Institution announces a new a branch at 136 Commercial Street in Portland.  (Mainebiz 3.27.17)