Connecticut bank sued for alleged discriminatory mortgage lending

CFPB Monitor

Last week, the Connecticut Fair Housing Center, Inc. filed a complaint against Liberty Bank in Connecticut federal district court alleging that the Bank engaged in discriminatory mortgage lending in violation of the federal Fair Housing Act. The complaint describes the Bank as “the eighth-largest conventional home purchase lender and eleventh-largest refinancer in Connecticut.”. Fair Lending State CFS Monitor State Enforcement CFPB connecticut fair lending redlining

Connecticut Learns From NY’s Payroll Card Strifes

PYMNTS

28) said Connecticut is preparing for a new statute to legalize payroll cards. According to reports, Connecticut rules aim to address those drawbacks; the state bans employers from imposing additional costs on employees for using the cards, while any payroll card an employer decides to use must be linked with a “substantial number” of ATMs that don’t charge fees.

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Significant changes to Connecticut consumer finance licensing laws to take effect October 1, 2018

CFPB Monitor

Significant changes to Connecticut’s licensing laws for consumer financial services providers will take effect on October 1, 2018. A licensee will be required to submit the demographic records collected between October 1, 2018 and June 30, 2019 to the Connecticut Banking Department by July 1, 2019. State CFS Monitor State Licensing connecticut licensing

Connecticut bank halts small-dollar loan program due to high demand

American Banker

The $5.9 billion-asset Liberty Bank in Middletown had set aside $5 million to make small-dollar loans to customers affected by the coronavirus pandemic. Consumer lending Community banking Coronavirus Small-dollar lending

Connecticut Banking Dept. takes no-action position on new demographic data reporting requirement for sales finance companies

CFPB Monitor

In August 2018, we reported about significant changes to Connecticut’s licensing laws for consumer financial services providers that were to take effect on October 1, 2018. A licensee is required to submit the demographic records collected between October 1, 2018 and June 30, 2019 to the Connecticut Banking Department by July 1, 2019. Auto Finance Fair Credit State CFS Monitor State Licensing connecticut

CT Gov: First Wave Of $600 Jobless Payments Were Sent

PYMNTS

Connecticut Gov. Connecticut’s $600 payments exceeded $89 million, according to the governor. Coronavirus benefits Connecticut COVID-19 funds jobless News payments unemployment What's Hot

Activist investor to join Bankwell's board

American Banker

The Connecticut company will appoint Lawrence Seidman to become a director at its next annual meeting. Community banking M&A Activist Investors Connecticut

Provident in Massachusetts buys warehouse lending business

American Banker

Community banking M&A Warehouse lenders Mortgages Massachusetts Florida ConnecticutThe company acquired ResX Warehouse Lending from People's United Financial.

Why this regional bank is dumping N.Y. multifamily loans

American Banker

People's United in Connecticut is letting the loans run off its books as it invests in higher-yielding commercial loans. Community banking Commercial lending Earnings Multifamily Connecticut Massachusetts New York

CT federal district court rules state’s demands to PHEAA for federal student loan documents preempted by federal law

CFPB Monitor

The Connecticut federal district court has ruled in Pennsylvania Higher Education Assistance Agency v. of ED Preemption Regulatory and Enforcement Student Loans connecticut pheaa preempt student loan

Market Commentary: Week of April 6, 2020

SWBC's LenderHub

From the old adage, “seeing is believing,” COVID-19 has begun to ravage New York and the New York City Metro Area (New Jersey and southern Connecticut) and key markets such as Agency MBS and Municipals began to feel shaky again. What happened?

Could States Tax MERS Out of Existence?

New York's State of Mind

On Halloween, the Supreme Court decided that it would not hear an appeal challenging the constitutionality of a Connecticut law which takes direct aim at the MERSCORP model. If you provide mortgages, there is a good chance that you benefit from the efficiencies brought about by the MERS system Connecticut has a typical mortgage recording […].

Unemployment Filings Top 3.1M Across US

PYMNTS

The highest insured unemployment rates in the week ending April 18 were in Vermont (25.2), West Virginia (21.9), Michigan (21.7), Rhode Island (20.4), Nevada (19.9), Connecticut (18.7), Puerto Rico (17.9), Georgia (17.3), New York (17.2)

Multi-state initiative announced to provide relief to private student loan borrowers

CFPB Monitor

Massachusetts , New Jersey , Connecticut , and Illinois have announced that they are participating in a multi-state initiative to provide relief to borrowers whose student loans are not covered by the CARES Act through agreements with certain student loan servicers.

Tonal Seeks More Funding To Produce $3K Home Workout Stations

PYMNTS

Discussions are taking place with Connecticut-based L Catterton, which was a key player in Tonal’s $45 million venture capital funding round in 2019.

Democrats Want Probe Of Possible Uber-Grubhub Merger

PYMNTS

Fellow Democratic Senators Patrick Leahy of Vermont, Richard Blumenthal of Connecticut and Cory Booker of New Jersey also signed onto Klobuchar’s letter. Amy Klobuchar (D-Min.)

For Taxpayers Looking For Stimulus Checks, IRS Site Leaves Them In Limbo

PYMNTS

One 73-year-old Connecticut resident is wondering if she’s eligible for payment based on her 2018 or 2019 tax returns after being laid off from a nonprofit.

Cannabis Companies Would Be Eligible For COVID-19 Relief Under Bill

PYMNTS

This is an election year and several states, including New Jersey, Arizona, South Dakota, New York, Connecticut and Rhode Island, have bills about cannabis legalization on the ballot or might have those bills.

Restaurants Expand Into Grocery To Mitigate Coronavirus Impact

PYMNTS

Also, Subway is providing groceries at 250 locations in Oregon, Connecticut, California, Washington and Tennessee.

How This Niche Lender Found a Way to Branch Out

American Banker

A small Connecticut bank takes the plunge into mobile-friendly mortgages in a bid to turn an attractive pool of student-loan borrowers into lifetime customers.

US Patents Hit All-Time High In 2019

PYMNTS

The company was launched in 1955 under the name Information for Industry (IFI) and is headquartered in New Haven, Connecticut, with a satellite office in Barcelona, Spain. More patents were filed in the U.S.

Does NCUA’s Restructuring Plan Make CentsSense?

New York's State of Mind

Region 1 overseas the following states: federally insured credit unions in Connecticut, Maine, Massachusetts, Michigan, New Hampshire, New York, Rhode Island, Vermont, and Wisconsin. NCUA announced Friday that it plans to shut down Region 1 as part of a restructuring of its operations. Region 3, based in Atlanta, is also marked for death.

Citigroup Ponders Suburban Satellite Offices 

PYMNTS

The Philadelphia-based private real estate investment management firm owns buildings in northern New Jersey as well as in Stamford, Connecticut.

AGs Probe Google Data Breach

PYMNTS

The New York Attorney General and the Connecticut Attorney General are investigating the Google data breach that may have exposed the private data of at least 500,000 users.

Google 194

Libra Association New General Counsel Is Former US Treasury Exec

PYMNTS

Attorney’s Office in Connecticut and has worked in a private law firm. A former clerk for U.S. Supreme Court Justice Anthony M. Kennedy and late Supreme Court Justice Lewis F. Powell Jr.

CVS To Open 50+ COVID-19 Drive-Thru Testing Sites

PYMNTS

As it works to address the pandemic with testing, CVS Health plans to open over 50 COVID-19 testing sites at designated CVS Pharmacy drive-thru locations throughout Connecticut, Florida, Arizona, Pennsylvania and Massachusetts.

Victims Of Tech Support Scam Get Refunds

PYMNTS

The agency and the Commonwealth of Pennsylvania as well as the State of Connecticut claim the scam’s perpetrators, which ran under Click4Support and other names, harnessed advertising on search engines, such as Google , and website popups.

JPMorgan CEO: US Workers May Head Back To Jobs In June

PYMNTS

Several states, including New Jersey, Connecticut, Pennsylvania, Delaware and California, have begun pondering reopening plans , according to their governors.

PSCU Says CU Spending Up With Stimulus Funds Arriving

PYMNTS

In hot zone areas where the coronavirus hit the hardest — California, Connecticut, Washington D.C.,

Bucking Convention, These Banks Are Adding Staff in Their Branches

American Banker

CenterState in Florida and Union Savings in Connecticut are adding specialists to their retail locations at a time when many other banks are cutting back or have been relying heavily on universal bankers.

Uber Eats Says Customers Donated $3M To Help Unemployed Workers

PYMNTS

The top five most generous states were Washington, Vermont, Montana, Connecticut and South Carolina, the report noted.

Growing a mortgage portfolio: Encourage borrowers to bank local

Abrigo

• Hartford, Connecticut – United Bank ($1.19 Finding one’s dream home can be a tedious, lengthy process. Financing it can feel even more cumbersome for many homebuyers.

Greece is important and so is Alabama

The Bankwatch

A similar comment related to Connecticut (similar GDP to Greece) effectively bailing out any of the smaller southern US states every year. This quote from Rana Foroohar on CNN this weekend makes one stop and think. Why Greece Matters for Everyone. It’s not that the economy of Greece itself matters so much– China creates a new Greece every six weeks –it’s that a Greek exit from the Eurozone calls into question the entire European experiment.

Mosaic Brings Frozen Foods Directly To Consumers

PYMNTS

and parts of Connecticut, Delaware and New Jersey. Mosaic has launched its first line of frozen food products in select east coast cities.

PSCU Study Shows Overall Spending Down Amid Coronavirus Pandemic

PYMNTS

Spending was down more dramatically in states that were considered “hot zones” – New York, New Jersey, California, Illinois, Louisiana, Michigan, Connecticut and Washington, D.C.

Study 156