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Issue of March 12, 2007 |     |
Risky BusinessIt’s no secret that the number of foreclosure filings has skyrocketed in Massachusetts over the course of the last year. While there are many factors, an increase in subprime lending – mortgages that appeal to consumers with poor credit but charge high interest rates and fees – has many residents, including Gov. Deval Patrick, pointing fingers at the mortgage industry. Playing the Blame Game By William G. Gothorpe By now, most of us are quite familiar with the TJX Corp. security breach, first reported in December 2006. The extended timeline over which the details of the problem became known – as well as the length of time during which the breach continued, the extensive nature of the number of customers affected and the somewhat predictable response that the problem has engendered from a variety of interested parties – have been well documented. Competition Flourishes in Boston’s Commercial Lending Market By Jarvis Kellogg In the 10-year period ending in 2004, the Boston commercial banking market experienced a massive and sudden contraction and consolidation that was unprecedented in its history. Beginning in 1994, after the failure of The Bank of New England, major Boston market rivals Fleet Bank and Bank of Boston began separate buying binges, acquiring between them a series of established Boston banks, including the likes of Shawmut Bank and BayBanks. Closing a Security Gap for Homeowners and Businesses By Robert Boucher Does the technician installing your home’s burglar alarm system or your company’s access-control system have a criminal record? Is the person monitoring your security system a convicted felon? Does your security contractor even have the proper license to do business in Massachusetts? Check and Balance Banker & Tradesman's political cartoon. |
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