Franklin Savings Bank has announced the promotion of Beckie Bowering to assistant vice president, cash management officer in Farmington. Bowering has been an integral part of the FSB team for 23 years. Her dedication and commitment to the bank and its customers have earned her this esteemed role, according to a news release from the […]
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Posted inBusiness, Local & State
Maine to receive $30,000 from mortgage processing snafu
ACI Payments mistakenly withdrew billons of dollars from mortgage holders during a software test.
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Posted inBusiness, Times Record
Climate demonstrators call for L.L. Bean to discourage fossil fuel investment
Demonstrators have been stationed outside the Freeport flagship retail store for weeks, calling for the company to discourage Citibank from investing in new fossil fuel infrastructure or to divest entirely.
Posted inBusiness, News, Uncategorized
Cannabis businesses boom in Maine, but access to banking’s a bust
The state’s industry is maturing and could bring in revenue of nearly $200 million this year. But even now, many companies are forced to operate on a cash-only basis.
Posted inLocal & State, News
Bank offers first Islamic mortgages based in Maine
The program is viewed as a watershed initiative for Maine’s immigrant community.
Posted inBusiness, Nation & World, News
Bank rules under review in wake of SVB failure, Fed official tells senators
The Federal Reserve is considering whether stronger bank rules are needed to prevent a similar bank failure in the future.
Posted inBusiness, Nation & World, News
Federal Reserve raises key rate by a quarter-point despite bank turmoil
The Fed says the U.S. banking system is ‘sound and resilient,’ but warns that the financial upheaval stemming from the collapse of 2 major banks is ‘likely to result in tighter credit conditions’ and ‘weigh on economic activity, hiring and inflation.’
Posted inBusiness, Nation & World, News
Stocks rise on Wall Street after big bank deal, moves by regulators
In the U.S., most of the attention has been on smaller and mid-sized banks on fears that falling trust could push their depositors to pull their money all at once.
Posted inBusiness, Nation & World, News
Banking giant UBS to buy Credit Suisse for $3.2 billion to rein in turmoil
The combination of the two biggest and best-known Swiss banks amounts to a thunderclap for Switzerland’s reputation as a global financial center.
Posted inBusiness, Nation & World, News
Treasury Secretary Yellen tells Congress U.S. banking system ‘remains sound’
In less than a week, Silicon Valley Bank, based in Santa Clara, California, failed after depositors rushed to withdraw money amid anxiety over the bank’s health.