Boston Fed President Begins Tenure
Susan M. Collins began her tenure on Friday as the Federal Reserve Bank of Boston’s new president and CEO.
Envision Bank Shareholders Approve Merger With Hometown
Hometown Financial Group’s acquisition of Quincy-based Envision Bank moved a step forward last week after shareholders of Envision Bank’s parent company approved the deal.
Add Rent to Rising Costs Bedeviling Small Businesses
Landlords were lenient about rent payments during the first two years of the pandemic. Now, many are asking for back rent, and some are raising the current rent as well.
Baker Tax Relief Bill Clears Committee Mostly Intact
The Massachusetts legislature’s Revenue Committee advanced a $600 million tax relief package on Friday, but the panel’s House chairman said the measure remains a work in progress.
Mass. Employers Teeter On Edge of Pessimism
Recession and inflation concerns conspired in June to leave Massachusetts employers on the verge of switching to a pessimistic posture.
Personnel File – No. 293
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
MBTA Communities Zoning Can Green Boston’s Suburbs
A new analysis of Greater Boston’s apartment market shows just how environmentally damaging development policies in the region’s suburbs are – something no natural gas ban can solve.
BankProv Expands BaaS Reach
The $1.79 billion-asset Amesbury-based lender is finding opportunity with a type of financial service a growing number of banks are looking to offer to the fintech industry.
This Month in History: Common Garage Scandal
A project to build a big parking garage under the Boston Common resulted in the downfall of a major public official and the project’s construction engineer.
Suit Against Mass. MLS Would Damage Many for Little Benefit
Massachusetts’ main multiple listings service is the target of a class action lawsuit claiming the longstanding buyer-broker commission rule is driving up home prices.
Geneva Financial Expands in Massachusetts
Arizona-based mortgage lender Geneva Financial has opened a new office in Rockland, with Patrick Queally as the branch manager.
Key Inflation Gauge Tracked by The Fed Remains a High 6.3 Percent
A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3 percent in May from a year earlier, unchanged from its level in April.
Powell: ‘No Guarantee’ Fed Can Tame Inflation, Spare Jobs
Federal Reserve Chair Jerome Powell said there’s “no guarantee″ that the central bank can tame runaway inflation without hurting the job market.
Community Good Works
Brockton-based HarborOne Bank announced the winners of the inaugural HarborOne Cause Pitch Contest held at Big Night Live in Boston. HarborOne Bank and The Greg Hill Foundation both made $25,000 donations for a total of $50,000 in awards.
MCBC: Black Borrowers Denied Mortgages at Higher Rates
Black borrowers with down payments of 20 percent or more were denied home mortgages in Massachusetts at higher rates than other borrowers in 2020, according to a new report from the Massachusetts Community & Banking Council.
US Consumer Confidence Slumps to Lowest Level in 16 Months
U.S. consumer confidence slipped to its lowest level in 16 months as persistent inflation and rising interest rates have Americans as pessimistic as they’ve been about the future in almost a decade.
Northmark Bank Had Considered Merging Last Year
Months before agreeing to merge with Cambridge Trust Co., Northmark Bank had considered merging into a different bank, and the two institutions had agreed to work exclusively on a potential deal.
O’Connell to Retire from Avidia Bank Next Year
Mark O’Connell, the long-time leader of Hudson-based Avidia Bank, plans to retire next year after 35 years at the bank.
J.D. Power: Satisfaction With Bank Advice Declines
Customers of varying ages and financial health status want banks to help them improve their financial situation, but satisfaction with advice and guidance provided by national and regional banks has dropped significantly over the past year, according to a new study from J.D. Power.
Did Corporate Greed Fuel Inflation? It’s Not Biggest Culprit
Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits.
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