While excess deposits are far from a banker’s primary concern, they can become problematic when there’s nowhere to deploy them, a situation many banks find themselves in as credit has tightened and business lending customers tighten their own belts due to an uncertain economic future.
In the latest blow to the beleaguered film industry, the second-largest movie theater chain in the U.S. is temporarily shuttering its locations Thursday due to a lack of blockbusters on the calendar and major domestic markets like New York remaining closed.
Another attempt to overhaul the Community Reinvestment Act moved forward last week as the Federal Reserve released its proposal to modernize the legislation that encourages financial institutions to meet community credit needs.
There’s good news for mortgage applicants who don’t fit into the precise mold demanded by Fannie Mae and Freddie Mac: After pulling back at the start of the pandemic in March, other lenders are returning to the market.read more
A Massachusetts operator of senior living facilities has inked a deal with the developers of a large, mixed-use project in Londonderry to build a retirement community there.read more
Without having chosen a new definition for qualified mortgages, the Consumer Financial Protection Bureau has decided to extend the Government-Sponsored Enterprise (GSE) Patch, a move that could protect borrowers with high debt-to-income ratios.read more
Ledyard National Bank opened its newest location in Concord on Oct. 13.read more
Working out of our homes has been part of the American culture since the country was founded. But the pandemic has forced more of us than usual to do so.read more