SMB Profile: Looking Forward To Christmas In Connecticut

PYMNTS

Like all the towns on the Connecticut shoreline, Guilford is centered around a village green. Retail brick and mortar Connecticut COVID-19 News SMBsOn its north side stands a picture-postcard, white-steepled church.

Why M&T-People's United met resistance in Connecticut

American Banker

M&T Bank Connecticut M&A Workforce management

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Connecticut poised To become fifth state to enact privacy law

CFPB Monitor

Connecticut is the next in a growing list of states to pass comprehensive data privacy legislation. Last Friday, the Connecticut legislature passed, by large margins, Senate Bill 6 — which we are referring to as the Connecticut Data Privacy Act (CTDPA).

Connecticut AG Launches Antitrust Probe Into Amazon’s eBook Business

PYMNTS

Connecticut Attorney General William Tong is launching an antitrust probe into how Amazon runs its eBook business, the Wall Street Journal (WSJ) reported on Thursday (Jan. This is Connecticut’s second look into Amazon’s eBook unit.

eBook 159

Sikorsky Financial Credit Union to merge with small Connecticut peer

American Banker

Credit unions M&A

Connecticut Department of Banking issues consumer and industry advisory on money transmission

CFPB Monitor

On July 20, 2022, the Connecticut Department of Banking (the “Department”) issued a Consumer and Industry Advisory on Money Transmission (the “Advisory”). Finally, the Department discusses Connecticut’s license application and penalties for unlicensed transmission.

Connecticut Banking Dept. issues cease and desist order to stop fintech loan finder from operating without small loan license

CFPB Monitor

The Order also directs SoLo to stop enforcing loans made to Connecticut residents and make restitution of any amounts it obtained in connection with such loans together with interest. Fintech Regulatory and Enforcement State Licensing connecticut small loan company

Connecticut credit unions bet on a unique niche: Lottery winners

American Banker

Financial literacy Credit unions

M&T Bank again faces a backlash in Connecticut

American Banker

Workforce management Data management Politics and policy

Connecticut community bank deploys AI-powered spending insights

American Banker

Fintech Community banking Technology

Why this Connecticut community bank is merging with a fintech

American Banker

Fintech Community banking M&A

Connecticut Community Bank Offers Highest 18-Month CD Rate in CT

BankDeals

Connecticut Community Bank, N.A. is currently offering an 18-month CD with the highest rate in Connecticut. Minimum opening deposit is $500. Also available as an IRA CD

Four Banks Partner to help Connecticut’s Underbanked

Banking Exchange

Individuals without access to basic banking services can now open accounts through a state-wide initiative being rolled out across Connecticut Community Banking People Covid19 Customers Fair Lending Feature3 Feature.

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.

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 slaps fintech Solo Funds with cease-and-desist order

American Banker

Fintech Technology Marketplace lending

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 Car Insurance: Get Coverage at the Lowest Rates

MyBankTracker

Connecticut is one of the most expensive states to have car insurance in. Average Car Insurance Rates in Connecticut. It’s important to understand you’re unlikely to pay the average rate for car insurance in Connecticut. Auto Insurance Laws in Connecticut.

New York To Sunbelt State Tourists: Stay Home

PYMNTS

With coronavirus infection rates soaring in the Sunbelt, the governors of New York, Connecticut and New Jersey are teaming up to slap a 14-day quarantine on travelers from states where the deadly virus is spiking. Phil Murphy and Connecticut Gov.

Connecticut Department of Banking Issues Order Establishing Remote Office Locations on a Permanent Basis

CFPB Monitor

The order applies to individuals working on behalf of persons licensed in Connecticut as: Consumer collection agencies; Debt adjusters; Debt negotiators; Mortgage brokers, mortgage correspondent lenders or mortgage lenders; Mortgage servicers; Sales finance companies; Small loan companies; and.

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

Connecticut federal court allows CFPB claims to proceed against mortgage company and principals for alleged licensing and other violations

CFPB Monitor

A Connecticut federal district court has refused to dismiss claims filed by the CFPB against a mortgage company and three of its principals for alleged Truth in Lending Act (TILA), Mortgage Act and Practice (MAP) Rule, and Consumer Financial Protection Act (CFPA) violations.

Patriot National in Connecticut freed from order with OCC

American Banker

Regulation and compliance

CEO of American Eagle Financial CU to retire

American Banker

C-suite Connecticut Credit unions Succession planning

First Connecticut Commits $5M to Small-Business Lending in Mass.

American Banker

First Connecticut Bancorp in Farmington has committed to making $5 million in small-business loans over the next year. small-business commercial-lending breaking_news community-banking

Essex Savings in Connecticut lines up next CEO

American Banker

Diane Arnold, who will succeed the retiring Gregory Shook in July, has been with the bank since 2002. She is currently the chief lending officer. Community banking Growth strategies Succession planning Women in Banking

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

Patriot National hires outsider as next leader

American Banker

The Connecticut company recruited Robert Russell from Millington Bank to become its president and CEO. Connecticut Succession planning Community banks Recruiting

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

Patriot in Connecticut buys portfolio of prepaid debit card deposits

American Banker

The company said the acquisition should lower its funding costs and shore up its net interest margin. Deposits Prepaid cards M&A Community banks

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

Webster discloses plan to cut tenth of annual expenses

American Banker

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit. Connecticut Earnings Revenue and expenses Branch network

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