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PublishedJanuary 16, 2024
Banks prepare to fight proposed curbs on overdraft fees
While banks have drastically cut back on overdraft fees in the past decade, the nation's biggest banks still take in roughly $8 billion in overdraft fees every year.
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PublishedNovember 29, 2023
Conservative Supreme Court seems open to an attack on the Securities and Exchange Commission
The case is just one of several this term in which conservative and business interests are urging the court to constrict federal regulators.
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PublishedOctober 17, 2023
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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PublishedOctober 4, 2023
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.
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PublishedAugust 6, 2023
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.
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PublishedAugust 3, 2023
Bank offers first Islamic mortgages based in Maine
The program is viewed as a watershed initiative for Maine's immigrant community.
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PublishedMarch 22, 2023
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.'
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PublishedMarch 16, 2023
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.
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PublishedMarch 14, 2023
Is my money safe? What you need to know about bank failures
Nearly all banks are FDIC insured. Credit unions are insured by the National Credit Union Administration.
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PublishedMarch 13, 2023
Bank stocks tumble while others rise on hopes for easier interest rates
The most pressure is on the regional banks a couple steps below in size of the massive, 'too-big-to-fail' banks that helped take down the economy in 2007 and 2008.
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