Banking & Lending
Survey: Majority of Most Age Groups Prefer Mobile, Online Banking
Two national studies show that US bank consumers are shifting their preferences more to digital banking platforms, both mobile and online, instead of opting to go to branches – particularly to branches inside big retailers.
Federal Bank Regulators Release CRA Updates
The final version of federal bank regulators’ latest attempt to bring the nation’s anti-redlining rules into the 21st century has been revealed after the Federal Reserve Board of Governors voted last month to issue a final rule revamping its Community Reinvestment Act regulations.
Northeast CU Picks Developer, Site for New HQ
Northeast Credit Union is teaming up with The Kane Co., Tidemark and PROCON to get its new headquarters off the ground.
Eastern-Cambridge Merger Will Lead to NH Branch Closures
Eastern Bank said the merger with Cambridge Trust will lead to some branch closures, with many of both banks’ branches less than a mile from each other.
FTC Proposes Ban on ‘Junk Fees,’ Coupled with CFPB Action
The Federal Trade Commission on Oct. 11 proposed a rule to ban any hidden and bogus “junk” fees, which can mask the total cost of concert tickets, hotel rooms and utility bills.
High Rates Drive Down Lenders’ Home Equity Business
Demand for home-equity loans and lines of credit appear to be ebbing across New Hampshire a year after lenders saw big booms in business.
ABA: Bank Economists Expect Credit Quality, Availability to Weaken
Bank economists see both credit quality and credit availability weakening over the fourth quarter of this year and the first quarter of 2023 as consumers and businesses find it hard to keep up with the current market conditions.
Rising Long-Term Interest Rates Pose Latest Threat to Economic ‘Soft Landing’
Surging interest rates are intensifying the challenges for the U.S. economy and threatening to derail the Federal Reserve’s drive to tame inflation without causing a deep recession.
S&P Sees Lower Bank Margins Ahead as High Deposit Costs Persist
U.S. banks increased deposit costs in the second quarter to protect core funding and have seen slowed deposit outflows, but that “defensive posture” and its lower net interest margins are likely to continue in the coming years
Primary Bank CEO Departs
Primary Bank’s board has named one of its own as the Bedford-based lender’s CEO following founding head William Stone’s departure.