The competition for deposits among banks has heated up over the past couple of months as the Federal Reserve has raised interest rates three times this year. While the competition for deposits has encouraged banks to competitively price their products at levels unseen for at least a decade, the increased focus on growing deposits could ...
Banking deposit war heats up as economy returns to normal
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How M&T dominates local SBA loan market
M&T Bank once again played a significant role in Baltimore’s Small Business Administration loan market, capturing making nearly half of the market’s loans.
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Federal government shutdown taking a toll on Maryland businesses
The partial shutdown of the federal government could have a noticeable effect on Maryland businesses, effects that may ripple into the state’s economy at large. As the shutdown continued into its 21st day Friday, the total effect it has had on Maryland’s economy is unclear, but a continuing closing of much of the federal government ...
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M&T Bank violated ADA’s accommodation duty, judge rules
M&T Bank violated the Americans with Disabilities Act by failing to provide the reasonable accommodation of reassignment for a Baltimore branch manager after she took short-term disability leave during her complicated pregnancy, a federal judge has ruled. But U.S. District Judge Ellen L. Hollander added that the U.S. Equal Employment Opportunity Commission provided “no basis ...
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M&T Bank settles disability discrimination lawsuit for $100K
M&T Bank will pay $100,000 to settle a lawsuit with the U.S. Equal Employment Opportunity Commission over allegations that a branch manager was terminated because of a pregnancy-related disability. The EEOC filed a federal lawsuit in 2016 alleging that the bank violated the Americans with Disabilities Act, or ADA, by firing Candace McCollin after she ...
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M&T Bank says its PPP lending in Baltimore, western Maryland reached $1.6B
M&T Bank announced Monday that an updated tally of its lending activity under the federal Paycheck Protection Program showed the bank had disbursed more than $1.6 billion to 11,314 businesses in central and western Maryland.
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‘There’s just a relentless drive to fewer banks’
The numbers tell the story of how banking in Maryland has changed. At the turn of the century 20 years ago, there were 142 banks headquartered in the state. Today? Maryland is down to 38 banks headquartered here, according to Federal Deposit Insurance Corporation data. In 2000, several of the state’s top banks — those with the highest share of ...
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M&T embraces multicultural strategy to grow customer base
It’s no secret the state’s Latino population is growing, and census figures confirm it: While the mostly white population declined from 55 percent of the population in 2010 to 47 percent in 2020, the Hispanic population rose from 8.2 percent to 11.8 percent. In some areas, the increase was even more dramatic. The Latino population ...
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M&T to designate 17 Baltimore-area branches as ‘multicultural banking centers’
An M&T Bank program that aims to make banking more accessible in communities with high nonwhite and non-English-speaking populations is expanding to 17 of the bank’s branches across the Greater Baltimore region. Called “multicultural banking centers,” these 17 locations are based in areas with high Hispanic or Black populations. The centers based in neighborhoods ...
The post M&T to designate 17 Baltimore-area branches as ‘multicultural banking centers’ first appeared on Maryland Daily Record.
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In banking, pandemic-era tech changes are here to stay
When the pandemic took root nearly two years ago, banking – at least the way most people had known it — was thrown into disarray. Gone were the days of walking into a local branch to deposit a check with a friendly teller or to sit down with a financial adviser. Banking became a new ...
The post In banking, pandemic-era tech changes are here to stay first appeared on Maryland Daily Record.
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