Proposed rule changes at both the state’s banking regulator and the federal credit union regulator could mean that credit unions may be able to own and develop real estate as an investment. At the federal level, the National Credit Union Administration has proposed a rule that would tweak
Unleash the power of the crowd? Not so fast. Though new rules promulgated by the Securities and Exchange Commission to empower equity crowdfunding are generating a lot of excitement, followers and participants say the actual reaction has been more a measured approach and less an opening of the floodgates.
When asked about the path he took into banking, Eastern Bank’s Rich Holbrook jokes, “Everything I’ve done has been totally planned. Just none of those plans worked out.” In his early years, Holbrook thought he might become a doctor. But during a post-college stint in Yale University’s athletic department, a friend lured him into a meeting with Connecticut Bank & Trust executives with the promise of free shrimp – and he was sold. It was the ability to make a difference that appealed to him, and over his 36-year banking career, he’s done just that. Now approaching retirement, Holbrook sat down with Banker & Tradesman to talk about advocating for social justice, thinking about tech and looking forward to the bank’s new leadership.
The insurance arms of Eastern Bank and Salem Five announced within the same week that they were acquiring independent insurance firms, prompting a curiosity about whether the insurance industry might be facing consolidation pressures
Between Google’s recent announcement that it would no longer accept advertising from payday lenders and the Consumer Financial Protection Bureau’s effort to crack down on that product set, payday lenders are in an uncomfortable spotlight. But you may not have heard about efforts to make
James Rizzo got into the banking industry, as did many of his peers, through the credit training program at Fleet Financial. Eventually, he wound up leading a team of commercial lenders at Slades Ferry Bank and joined Rockland Trust via a merger in 2008. The Providence native is also a passionate
Not all heroes wear capes, but some of them do don costumes and put on live musical performances to teach school children about saving and spending money. At least, Blue Hills Bank’s Julie Beckham does.
An employee with UniBank since 2012, it didn’t take too long for Mike Sabourin to establish his reputation as a Community Bank Hero, though undoubtedly he’ll blush when he reads these words.
From the outset, Fred Bertino’s destiny would have seemed to be in the medical world. After all, his whole family works in that field. But during college, he changed course. During a yearlong break from his studies, he worked for an advertising agency in New York City and it was then that he was hooked. “I loved the way that marketers are problem-solvers with the tools of communication,” Bertino said. Now the head of his own advertising agency, Bertino uses those tools of communication to help banks (and others) solve their problems.
ocal lenders’ recent moves in and out of the indirect auto lending business provide a window into that market’s fluctuations on a broader scale. The $1.9 billion Belmont Savings Bank, for instance, reported an $11.79 million decrease in indirect auto loans due to its suspension of new
