Mark Thompson, who earlier this year led an effort to launch a new bank that ultimately fizzled, has been named president and director of Cambridge Trust Co.
Leominster-based Fidelity Bank will add a new branch in Winchendon and greatly expand its customer base in Gardner after announcing plans Tuesday to merge with Gardner-based Colonial Co-operative Bank.
The Consumer Financial Protection Bureau has been busy as of late.
Unemployment in Massachusetts dropped to 4.2 percent in the month of August, once again bringing the number of people that do not have a job, but have actively looked in the last four weeks, below the national average of 4.4 percent.
Seven mutual banks and holding companies converted to stock companies between 2010 and 2014, often an indicator that they may be fishing for a buyer. Four of those seven will complete the state-mandated three-year waiting period following the completion of an initial public offering, and be eligible for acquisition this year.
When she first accepted the job as a part-time community relations representative at LUSO Federal Credit Union, Kimberly Anderson admitted she didn’t know much about the world of credit unions.
Everett-based Eagle Bank was forced to close its branch at the Stop & Shop at 471 Salem St. in Medford due to the shuttering of the supermarket last month.
Attorney General Maura Healey said yesterday she intends to sue Equifax over its failure to protect sensitive and personal information of up to nearly three million Massachusetts residents, following a major data breach at the credit reporting firm.
Having already added more than 70,000 new customers in 2017, Marlborough-based Digital Federal Credit Union is now looking to bulk up its workforce.
U.S. consumers are on pace to hold more than $1 trillion in credit card debt by the end of 2017, according to a recent WalletHub study.
At the end of the second quarter, there were nine less banks in Massachusetts from one year ago and roughly $6 million fewer assets controlled by the remaining 128 banks in the state, according to recently released FDIC data.
Reading Co-operative Bank has notified state regulators and customers that it plans to close its Woburn branch, located at 300 Trade Center, on Dec. 1.
The explosion of fintech has credit cards declining and personal loans trending.
Rockland Trust announced yesterday that it is rebating all ATM fees between Aug. 25 to Dec. 31 for bank customers who use ATMs in Texas, joining larger banks such as J. P. Morgan and Bank of America in an effort to help those devastated by Hurricane Harvey.
Ten credit unions in Massachusetts were among the 251 low-income credit unions across the country the NCUA awarded $1.8 million in grants for the purpose of expanding digital services to under-served communities, provide leadership training and improve cybersecurity.
Some members of the Federal Open Market Committee in July expressed concern that “smaller banks could be assuming significant risks in efforts to expand their CRE (commercial real estate) lending.”
After nearly 30 years of experience in state and municipal finance, which included five years as a tax examiner for the Massachusetts Department of Revenue and nearly 25 years as the treasurer and collector of taxes in West Bridgewater, John Duggan was ready to retire. But before he could figure out his next step, a Bristol County Savings Bank employee came in and said he should talk to the bank about an interesting opportunity. It turned out to be a perfect match and Duggan was appointed vice president and government finance officer at the Taunton-based bank in July. Now Duggan is on the other side of the equation – no longer the veteran town official, but the banker who works with them. Towns and cities use banks for all sorts of operations, from holding the taxes they collect to managing stabilization funds to trying to grow revenue; and “they both need each other,” said Duggan.
Two major credit union advocacy groups are in disagreement over the National Credit Union Association’s proposed plan to close the Temporary Corporate Credit Union Stabilization Fund sometime this year.
Hundreds of Massachusetts Uber drivers are being reimbursed after being overcharged by Uber’s subsidiary car-leasing company for “duplicative and erroneous tolls and related fees.”