Massachusetts’ Biggest Black-Owned Bank to Relocate HQ
OneUnited Bank plans to relocate its headquarters out of Boston’s Financial District and into the traditional heart of Boston’s Black community.
Rockland, Eastern Earn Top Marks for Customer Satisfaction
A new analysis by J.D. Power has found that Rockland Trust and Eastern Bank are the two top large, Massachusetts-based banks operating in New England in terms of customer service.
Poll: 2 in 5 Black Mass. Biz Leaders Rejected for Loans
A new poll finds that Black small business leaders in Massachusetts disproportionately report being rejected when applying for financing.
Cape Cod 5, MVCU Building Branches in Plymouth
Two financial institutions are in the process of setting up shop in Plymouth.
Does ‘Virtue Signaling’ Pay Off for Entrepreneurs?
Our research suggests consumers view a little bit of virtue language as reasonable and trustworthy. Higher levels of virtue signaling, however, can come across as dishonest.
Citizens Reports Private Bank Deposits Up $1.2B in Q1
Citizens Financial Group’s move to seize market share among the Northeast’s rich is gathering pace, executives said during the bank’s first-quarter earnings call Wednesday.
Powell: Elevated Inflation Will Likely Delay Rate Cuts
“If higher inflation does persist,” he said, “we can maintain the current level of [interest rates] for as long as needed.”
M&T Keeps Cutting Exposure to CRE Lending
In its first earnings call after a major credit ratings agency downgraded its out look for the lender, M&T Bank announced progress in reducing its book of commercial real estate loans.
Top Fed Official Opens Door to Keeping Rates High for Longer
Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central bank’s key rate may have to remain at its peak for a while to bring down persistently elevated inflation.
Competitive Workplaces Don’t Work for Gender Equality
Firms where employees battle against each other for rank, bonuses and promotions are common in law and finance. But while, on its face, they are gender-neutral, they actually worsen gender inequality.
Will Boston Multifamily Hit Its Own ‘Wall of Maturities’?
The nation’s multifamily owners are facing a financial crunch as they try to refinance construction and other loans. But Boston is likely to see a lot less distress than Sunbelt cities, experts say.
Big Banks Issue Mixed Profit Reports as JPMorgan Flags ‘Uncertain’ 2024
JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
Mass. Employer Confidence Takes a Hit
Confidence among Massachusetts employers stumbled in March for the first time in four months, but remained in optimistic territory, according to the latest survey from the Associated Industries of Massachusetts.
March Inflation Reading Means ‘Bad News’ for Mortgage Rates
Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year
When Will Fed Cut Rates? As Economy Flexes Muscles, Maybe Never
The Fed typically cuts only when the economy appears to be weakening and needs help. But with economic data looking strong – the commercial real estate sector aside – will its policymakers see a need to even cut at all?
Jamie Dimon Warns of Potential Interest Rate Spike
With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.
Middle-Market Firms’ Financial Priest
When a bank borrower is in trouble, Tom Desmond gets a call. As the founder and managing partner at New England Consulting Partners, he helps middle-market companies rescue themselves and keep creditors whole.
Walden Mutual Growing Well, One Year On
New England’s first new mutual bank in 50 years is seeing strong growth after a little over 12 months in business.
Another Month of Robust Job Growth Points to Continued Economic Strength
America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Powell Still Sees Room for Rate Cuts in 2024
Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up recently.
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