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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 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.
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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 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.
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PublishedMarch 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.
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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 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.
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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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