Banking Law Update

A blog from the attorneys of Verrill

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Financial Institutions...In the News

  • Foreclosures in Maine decline even with high number of foreclosures reported in 2016. (PPH 5.8.17)
  • The Financial CHOICE Act of 2017 which was recently introduced to the House Financial Services Committee repeals the Durbin Amendmentand would save Maine Credit Unions and their members millions of dollars. (BDN 5.5.17)
  • Maine, along with other states, have issued a cease-and-desist order against Ocwen Financial Corporation to prevent the corporation from acquiring servicing loans and new loans. (Reverse Mortgage Daily 4.17.17)
  • Frank Abagnale lectures on formerly being a fraudster to now an educator in protecting consumers against scams. (Sun Journal 4.20.17)
  • Melinda Bini, former employee of Wells Fargo Bank, files a lawsuit claiming retaliation for loss of employment for not participating in banking scheme. (Central Maine 4.17.17)
  • Tim Nightingale, Executive Vice President and Senior Loan Officer at Camden National Bank, becomes new Finance Authority of Maine (FAME) board member. (BDN 4.13.17)
  • John Stumpf and Carrie Tolstedt of Wells Fargo Bank must return an additional $28 million and $19 million in compensation, respectively, for their roles in “abusive sales practices.” (PPH 4.10.17)
  • Maine General Health warns of scam offering to reduce debt in exchange for credit card information. (Central Maine 4.7.17)
  • Maine credit unions grow by 20,000 new members in 2016 to 685,926 members and loans surpassing more than $456 million. (BDN 4.4.17)
  • Androscoggin Bank launches a Fast Response Business Loans Platform that allows businesses a quick response for loans related to credit lines and financial growth. (Mainebiz 3.29.17)
  • Bob Quentin, President, CFO, and treasurer of Saco & Biddeford Savings Institution announces a new a branch at 136 Commercial Street in Portland. (Mainebiz 3.27.17)
Topics: Current Events in Banking