FITCHBURG, Mass. -- Fitchburg Municipal Employees FCU said it is offering 10% APY on a ten-month CD. Terms of the CD require a minimum deposit of $500 and a maximum of $2,500. Members must also have direct deposit of their paycheck, Social Security or retirement fund.
CEO Chris Gorman applauded what he sees as a transformation of bank regulation since President Trump took office. He described a shift from layers of exams and documentation to a streamlined focus on liquidity, capital and earnings.
Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.
Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.
The Buffalo-based bank said Thursday that the paring of its CRE loan book, which has nearly halved in volume over the last three years, may be near its inflection point.
The BNPL lender is launching a three-day shopping event that pushes 0% financing offers to draw more consumers into the app and increase sales volumes for merchants ahead of the holiday season.
While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.
