banks

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Hartford's City Council has approved a municipal identification card program. The IDs will give undocumented immigrants and others better access to city services.

Citicorp, JPMorgan Chase, Barclays, The Royal Bank of Scotland and UBS AG have agreed to plead guilty to felony charges and pay billions in criminal fines, the Department of Justice says. The offenses range from manipulating the market price of U.S. dollars and euros to rigging interest rates.

A huge trove of leaked documents is shedding new light on the secretive Swiss banking industry.

The documents were downloaded by a former computer security expert at the giant bank HSBC, and they were released over the weekend by the International Consortium of Investigative Journalists.

Updated at 9:30 a.m. ET

Sen. Elizabeth Warren failed to stop a change in bank regulations last weekend, but she raised her profile yet again.

The Massachusetts Democrat tells NPR that her fight over a provision in a spending bill was a "warning shot." She intends to continue her fight against what she describes as the power of Wall Street, even though that fight brought her to oppose leaders of her own party.

The FBI says it's working with the Secret Service to investigate reports that Russian hackers breached security at JPMorgan Chase and other financial institutions, stealing customers' account information in possible retaliation for U.S. government sanctions on Moscow.

"We are working with the United States Secret Service to determine the scope of recently reported cyberattacks against several American financial institutions," FBI spokesman Joshua Campbell said in a statement late Wednesday.

The financial crisis pushed millions of Americans from their homes. And housing advocates complain that the government did more to prop up big banks on Wall Street than it did to help average people on Main Street.

But many of those people on Main Street could still qualify for a government program to help them save money by refinancing their mortgages.

Bank of America Corp. has agreed to pay nearly $17 billion in a settlement with federal regulators over allegations that it misled investors into buying risky, mortgage-backed securities in the run-up to the 2008 financial meltdown.

The Department of Justice, which announced the $16.65 billion deal today, describes it as "the largest civil settlement with a single entity in history."

Royal Bank of Scotland

The Royal Bank of Scotland could lay off hundreds of its U.S. employees, according to new reports. The company has its North American headquarters in Stamford.

As the U.S. Postal Service continues to lose money each year, a new report suggests a way to add to its bottom line: offer banklike services, such as a check cashing card that would allow holders to make purchases and pay bills online or even take out small loans. The idea is to provide services that are now unavailable in many communities.

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Our financial analysts look at protecting and growing your money.

On this fresh edition of The Faith Middleton Show, the markets have been dropping despite some good economic news. Are investors truly spooked or taking profits? What's going on? Are we in for one of those rocky years in the market, and if so, our guests take your calls and talk about protecting and growing your money.

Start Bank

The end of an era in New Haven finally seemed like reality last week as Toni Harp won election to the mayor's office. The man she's replacing, John DeStefano, is following 20 years at the head of city government with another prominent role in New Haven. He'll become an executive at New Haven's Start Bank.

TWP / Creative Commons

Community banks are a vital part of the credit landscape, according to a new report. Despite their popularity with customers, their numbers are shrinking. Federal regulators joined with state authorities to take an in depth look at community banking around the country in what's being viewed as the most comprehensive study of its kind. 

Connecticut Center for Economic Analysis

Economists at the University of Connecticut are calling on the state to use bonds that have been approved by the legislature but never issued. The Connecticut Center for Economic Analysis forecast reports that if the state relies only on traditional drivers like the housing market to grow the economy, it could begin to lose jobs again in 2014.

<a href="http://www.nbcconnecticut.com/news/local/Bridgeport-Bank-Shuttered-223691121.html" target=new>NBC Connecticut</a>

Customers who had money in The Community's Bank in Bridgeport should receive their insured deposits back this week after the bank failed and was put into receivership. It's the first bank failure in Connecticut in more than a decade.

Sujata Srinivasan

In an ongoing effort to create growth for mom and pop businesses in the state, the U.S. Small Business Administration is making capital available to Connecticut Economic Development Fund, a non-profit offering micro-loans. WNPR’s Sujata Srinivasan has more.

James Dufour owns Connecticut Carpentry in Meriden. He makes cabinets for hospitals and employs seven people. Up until the start of the financial crisis, the nearly 30-year-old business had little trouble accessing bank loans. 

The Department of Justice announced Tuesday that it was suing Bank of America for allegedly lying to investors about the riskiness of about $850 million worth of mortgage-backed securities back in 2008.

According to a press release by the Justice Department, the action is part of efforts of the Obama administration's Financial Fraud Enforcement Task Force's RMBS Working Group.

With a July 1 deadline looming, it seems unlikely that Congress will be able to stop interest rates on new federal student loans from doubling.  But there may be time to address the situation before classes begin next fall.

About 7 ½ million students nationwide pay for a portion of their college tuition through subsidized Stafford Student loans. Right now, interest rates will go from 3.4% to 6.8% on July 1st.

"There is a window of opportunity for Congress to still act."

Helping The "Unbanked"

Jul 26, 2012

According to the FDIC, about 73,000 Connecticut households do not have bank accounts. These families often pay substantial fees to cash checks and pay bills, and may have a tough time establishing credit. There's a new state program aimed at helping the so-called "unbanked".

After bounced checks and financial difficulties, retired postal employee Juan Rosario was told by his bank that he’d never have another bank account or get a debit card.

A Banking Roundtable

Nov 3, 2011
Chion Wolf

President Obama just unveiled a new plan to help homeowners avoid foreclosure...but what other help is out there?

The state of Connecticut is working to help homeowners as well...sponsoring a mortgage assistance event  on Tuesday November 15.  

First Niagara Bank has announced a $1.3 million donation to Manchester Community College and the town of Manchester. The funds will be used to support the college’s expansion into downtown.

A merger between New Alliance and First Niagara Banks led to the layoff of more than 90 workers in downtown Manchester earlier this year. At the same time, Manchester Community College needed to expand. First Niagara’s $1.3 million donation includes the value of a downtown building for the college, and a cash donation to the foundation that will operate the facility. 

Harriet Jones

Swiss bank UBS will retain a significant presence in Stamford after the state of Connecticut extended the company a $20 million loan. But, as WNPR’s Harriet Jones reports job cuts seem likely at the bank’s Connecticut operations.

A prominent UConn law professor has been tapped to advise the new Consumer Financial Protection Bureau, founded under the Dodd-Frank financial reform act. Patricia McCoy will be working on mortgages. McCoy is the director of UConn law school’s Insurance Law Center and an expert on consumer finance issues. She’s been a prominent commentator on the foreclosure crisis, and an advocate of protecting the rights of homeowners who were the victims of predatory lending.