When Janice Houghton began her career in the banking industry more than four decades ago, she found herself facing many challenges, mainly because she was in an industry dominated by men. But in early November, Houghton left the industry on top, retiring from her post as president and CEO of StonehamBank.
The recent unexplained departure of state banking Commissioner Terence McGinnis from the Massachusetts Division of Banks opens the door to a new leader and a potential policy shakeup.
Up until recently, Cambridge Trust only had a small presence in New Hampshire through its wealth management business. Now, the bank is expanding in a big way, not only adding a significant retail presence, but a whole new platform to offer its premier banking services to.
The Massachusetts Division of Banks has named its top lawyer as acting commissioner of the agency after former Commissioner Terence McGinnis left the agency Friday, a division spokesperson said yesterday.
The parent company of People’s United Bank completed its acquisition of the parent company of Farmington Bank in an all-stock transaction valued at $544 million nearly two months ago. Last week, People’s United announced it will buy the parent company of Belmont Savings Bank in an all-stock transaction valued at $327 million. Given that both banks hold about $3 billion in assets, what made the Farmington deal so much more lucrative than the Belmont deal?
Marlborough-based Digital Federal Credit Union continues to fight a class action lawsuit alleging the $8.5 billion asset institution unjustly charged overdraft fees.
Terence A. McGinnis, the commissioner of banks at the Massachusetts Division of Banks, will step down from his post after only two years on the job.
A Medford woman pleaded guilty yesterday in federal court in Boston to fraudulently receiving Social Security disability benefits, Medicare, MassHealth and food stamps.
Michael Daly, president and CEO of Berkshire Bank and its parent company, is stepping down from his position and leaving the company immediately, the bank said in a statement last night.
Less than two months after completing its purchase of Farmington Bank in Connecticut, the parent company of People’s United Bank is shopping again.
Having started his career at an advertising agency, Tyson Nargassans never thought he would end up marketing for financial institutions.
The $1.2-billion asset Radius Bank recently applied to the Massachusetts Division of Banks to convert from a federal savings association to a state-chartered trust company.
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.