Contrary to advancements the U.S. has made in technology, the country lags behind many of its peers when it comes to payments – online and debit transactions can still take hours, if not days, before the funds are actually transferred or deposited into an account. But this could soon change.
The FDIC has approved New Valley Bank & Trust’s application for deposit insurance.
Marlborough-based Digital Federal Credit Union will face a class action lawsuit that alleges the $8.5 billion asset institution unjustly charged overdraft fees, a federal judge ruled last week.
Scott Budde previously worked in the investment management arm of TIAA and would go on to create the first division of the bank focused on social and impact investing strategies. Now he’s part of a group of stakeholders launching the first ever credit union in the country to lend exclusively to farmers and food entrepreneurs.
Rockland Trust will complete its merger of Milford National Bank and Trust and its parent within the next few days.
Citizens Bank is opening its first branch in one of Boston’s most bustling neighborhoods.
The regulatory relief party may be over in Congress, but credit union trade groups do not seem terribly upset about the results of midterms.
Clayton Deutsch, CEO and president of Boston Private Financial Holdings, will retire after more than eight years with the company.
City of Boston Credit Union will be busy this holiday season.
In an interesting move for a bank that seeks to have a national presence, Radius Bank has filed to change charters.
The battle over deposits has grown intense as interest rates continue to rise, especially in metro markets like Boston where the demand for loans is still robust.
One Romanian national was sentenced and two Romanian nationals plead guilty earlier this week in federal court in Boston in connection with an ATM skimming scheme operating throughout Massachusetts and other states including Connecticut, New York and South Carolina.
Nearly eight months after first applying, the merger between Merrimack Valley Credit Union and Bridgewater Credit Union has finally passed. The deal will still require regulatory approvals and is not expected to be complete until early 2019.
Konrad Martin is the CEO of the IT and cybersecurity firm Tech Advisors, which has offices in Medfield and Boston. The company provides businesses of all sizes with a range of services including network security, converting information to the cloud and disaster recovery.
Boston was home to several regional banks in the 1990s, including Shawmut Bank, Bank of Boston and Fleet. Eventually, Fleet would acquire Shawmut and Bank of Boston, only to then be acquired by Bank of America in 2004.
As the city of Worcester plans to build a new stadium for the baseball team formerly known as the Pawtucket Red Sox, several community banks are grabbing their bats and stepping up to the plate.
Competitive pricing continued to slow loan growth at the parent company of Hartford-based United Bank in the third quarter of 2018.
While much of the recent focus has been on Rockland Trust’s planned acquisition of Blue Hills Bank and its expansion in the Boston area, the company has also been busy building out its franchise in Worcester and Central Massachusetts.
With fierce competition, deposit building in and around Boston has been a challenge for many banks.