Banking

Published
August 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.
Published
August 3, 2023

Bank offers first Islamic mortgages based in Maine

The program is viewed as a watershed initiative for Maine's immigrant community.
Published
March 28, 2023

Bank rules under review in wake of SVB failure, Fed official tells senators

The Federal Reserve is considering whether stronger bank rules are needed to prevent a similar bank failure in the future.
Published
March 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.'
Published
March 21, 2023

The Conversation: Worst bank turmoil since 2008 means Federal Reserve is damned if it does and damned if it doesn’t in decision over interest rates

Published
March 20, 2023

Stocks rise on Wall Street after big bank deal, moves by regulators

In the U.S., most of the attention has been on smaller and mid-sized banks on fears that falling trust could push their depositors to pull their money all at once.
Published
March 20, 2023

The Conversation: The collapse of major US banks leads to bills calling for more regulation
Published
March 19, 2023

Banking giant UBS to buy Credit Suisse for $3.2 billion to rein in turmoil

The combination of the two biggest and best-known Swiss banks amounts to a thunderclap for Switzerland’s reputation as a global financial center.
Published
March 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.
Published
March 15, 2023

Stocks tumble on Wall Street on renewed fears about banks

The heaviest losses are focused on smaller and midsize banks, which are seen as more at risk of having customers try to pull their money out en masse.