Then a 12-year veteran of commercial banking, Mark Cochran joined the credit union world in 1993.
John Kingston made a major career change 17 years ago in order to spend more time with his family. He meant it.
Lynn Wallace has a great phone personality. It’s easy to see how easily she dives into teamwork, both within a work environment and on the volunteer front – and to get all hands on deck to be eager to join her.
The nation’s largest banks have moved into the person-to-person payment sphere with the rollout of Zelle, a bank-owned mobile application that allows customers to make P2P payments without leaving the protection of the data center of their financial institution.
Elizabeth Gruber knows how to balance the strengths of the private market with the need for more housing production in Massachusetts. Her description of the New Market Tax Credit as an instrument to bring the discipline of private capital into a process promotive of public welfare, sums up her philosophical approach to doing well by doing good.
The voice on the phone tells an elder they’ve won a million dollars in a lottery/sweepstakes, and in order to disburse the funds, an upfront payment is needed for tax purposes.
Policyholders for the Savings Bank Life Insurance Co. of Massachusetts voted overwhelmingly in favor of the company’s plan to return to a mutually-owned company from the shareholder-owned status it has held since 1992.
The economic rebound from the 2008 recession is a rising tide that doesn’t necessarily lift all boats. Several sectors are showing mixed-blessing results, including credit card lending, retail, manufacturing, real estate and some financial sectors.
The Dodd-Frank Act has been characterized as the financial industry’s version of the PATRIOT Act – drafted in a time of trauma. Now the nation’s financial sector is out of the ICU and into recovery and the next step will be to discharge it back home. But what, exactly, constitutes “home?”
Auto loan balances have reached a record high, fueled by steady sales growth in the post-recession economy. And as auto prices rise, auto loan terms are getting longer. Are consumers becoming overleveraged in their car purchases? Not necessarily, say auto lenders and industry experts. Subprime auto lending, which ramped up significantly after the recession, hit the brakes last year as big banks, fearing a runup in delinquencies, pulled back and went in search of consumers with higher credit scores for both new and used vehicles.
Merger and acquisition activity in the insurance sphere on the global stage cooled off in 2016 compared to the previous year, but the picture is different in the insurance distribution arena, where activity remained strong last year going into this year.
Despite the introduction of EMV chip cards over the last several years, credit card fraud is on the rise as criminals find new ways to outsmart technology – but not all of the fraud flags raised are attributable to criminals.
The Federal Reserve Bank of Boston has provided the New England region’s banks a safe space to discuss cyber threats. The FRBB’s second annual Cybersecurity Conference, held this year on May 1, is the most recent event in its program to address and combat cyber threats.
Two of the nation’s largest banks have experienced customer-service crises in the last two years that can provide object lessons for the industry.
The nation’s biggest banks’ first quarter 2017 results have contained positive results in the net interest income sphere – a continuation of a trend that started in 2016. Bank of America reported a 20.6 percent increase in net interest income over that of fourth-quarter 2016.