Banking Law Update

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Financial Institutions . . . In the News

Town & Country Federal Credit Union to host virtual money conference (Mainebiz 6.23.2020)

Connected Credit Union and Winslow Community Federal Credit Union’s merger is effective June 27 and will be known as Connected Credit Union. (Mainebiz 6.23.2020)

Maine housing market prices increased whiles sales fell in May. (Central Maine 6.22.2020)

The COVID-19 pandemic increased consumer’s debt. (PPH 6.21.20)

The merger of Kennebec Savings Bank and Kennebec Federal Savings is anticipated to be finalized by the end of 2020. (Central Maine 6.18.2020)

The Federal Reserve does not plan on any rate increases for the next several months. (PPH 6.10.2020)

Federal Chairman Jerome Powell foresees long recovery caused by the COVID-19 shutdowns. (PPH 6.10.2020)

Forbes names Bangor Savings Bank 9th on the ‘World’s Best Banks’ list. (News Center Maine 6.10.2020)

Modifications to the federal loan program helps Maine businesses. (BDN 6.5.2020)

Rent Relief Program applies to April, May and June. (WGAM 6.4.2020)

Maine Health & Higher Education Facilities Authority gets Fitch rating. (Fitch Ratings 6.3.2020)

Numerous evictions are likely once protections are lifted. (Maine Beacon 6.3.2020)

Todd Mason, President and CEO of the Maine Credit Union League answers questions related to COVID-19 and the state’s credit unions. (Mainebiz 5.18.2020)

Guidance for the Paycheck Protection Program Loan Forgiveness is available through the U.S. Small Business Association. (News Center Maine 5.11.2020)

Machias Savings Bank offers $200,000 in grants to nonprofit groups engaged in COVID-19 relief assistance. (WHDH 5.5.2020)

Constant releases a new mortgage relief technology program to assist faster and more accurate application processing. (PR Newswire 5.5.2020)

Topics: Current Events in Banking