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By Jason Song and Jason Song,SUN STAFF | October 10, 2004
Pauline A. Marsh, a former nurse who worked at the Federal Reserve Bank in Baltimore for nearly 25 years, died in her sleep of heart failure Monday at Union Memorial Hospital. She was 73 and lived in Yale Heights. Born Pauline A. Roberts in the city's Pimlico section, she graduated from Western High School in 1950. She received her nursing certificate from the Church Home and Hospital nursing school two years later. She became a night supervisor at the hospital after graduation. She then became an occupational-health nurse with the Baltimore branch of the Federal Reserve Bank in the early 1970s, where she attended to small, on-the-job injuries and also served as an informal in-house psychologist, said her daughter, Emily Marsh of Mayfield.
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NEWS
By Lorraine Mirabella, The Baltimore Sun | January 3, 2014
The economy is likely to continue dragging in a slow recovery this year, the president of the Federal Reserve Bank of Richmond told a Maryland bankers group Friday. The economy will grow an estimated 2 percent to 2.25 percent, about the same as since the end of the recession, said Jeffrey M. Lacker, whose Federal Reserve district includes Baltimore. Last year ended on a positive note, with improvements in measures such as consumer spending and gross domestic product, the value of the nation's goods and services, he said.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 3, 2012
Regal Bancorp Inc. of Owings Mills has reached an agreement with the Federal Reserve Bank of Richmond, the regulator announced Tuesday. The holding company for Regal Bank & Trust agreed not to declare or pay any dividends or incur more debt without the approval of regulators. The company also agreed to submit annual cash-flow projections and quarterly progress reports. Since last fall, Regal Bank & Trust has been operating under an order by the Federal Deposit Insurance Corp. to shore up its finances.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | August 16, 2013
Victor "Vic" Turyn, a retired Federal Bureau of Investigation and Federal Reserve Bank of Richmond official who had been an outstanding quarterback at College Park in the late 1940s, died Aug. 11 of heart failure at his Ellicott City home. He was 91. Victor Turyn was born in McRoberts, Tenn., to immigrant parents. His father, Jan Poltorovski was from Poland, and his mother, Anna Zablocki Poltorovski, was from Russia. "None of the family members know why immigration officials changed Jan's name to John Turyn, but they believe this was the way many immigrants in the 1900s received their Americanized names," said a daughter, Kathleen "Kathy" Stempkovski of Elkridge.
NEWS
April 26, 2006
Janet Yellen, president of the Federal Reserve Bank of San Francisco. "We are now operating in the vicinity of full employment. The market for skilled workers does appear to have tightened noticeably, with some upward wage pressure emerging in some sectors."
BUSINESS
May 6, 1993
Maryland manufacturing activity apparently dropped during late March and early April, according to a survey by the Federal Reserve Bank of Richmond, Va.Based on the responses of 19 Maryland manufacturers, the Fed said new and backlogged orders dropped in the state during the period, along with the number of factory workers. However, the level of product shipments -- which may have been ordered in the past -- increased, as did the number of hours worked per JTC week.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 24, 2010
Two directors have been named to the board of the Federal Reserve Bank of Richmond's Baltimore office. Samuel L. Ross, chief executive of Bon Secours Baltimore Health System, was appointed for a three-year term starting Jan. 1. One of the seven current directors, meanwhile, was appointed to a new term. William B. Grant is the chief executive of First United Bank & Trust in Western Maryland. jamie.smith.hopkins@baltsun.com http://twitter.com/realestatewonk
NEWS
December 13, 1997
Alfred Augustus Stewart Jr., a retired vice president of the Baltimore branch of the Federal Reserve Bank of Richmond, died in his sleep Dec. 3 at Charlestown Retirement Community Care Center. He was 90 and lived in Catonsville.He began his banking career in 1929 as assistant cashier of the National Bank of Cambridge and joined the Federal Reserve Bank in Baltimore in 1942.He retired in 1973.The Cambridge native graduated from Goldey College in Wilmington, Del., and Stonier Graduate School of Banking at Rutgers University.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 2, 2013
The Federal Reserve Board announced Thursday that it terminated an enforcement action against Baltimore-based Harbor Bankshares Corp. The Federal Reserve Bank of Richmond issued the action in July 2010, reaching an agreement with the holding company to take steps to shore up its finances. The company, parent of The Harbor Bank of Maryland, agreed to comply with consent orders from other regulators as well as not to pay dividends, take on more debt or redeem shares without the approval of the Federal Reserve Bank first.
NEWS
November 26, 2006
Tricia Eileen Kissinger and Matthew Lion Nemeth were married last evening at the Metropolitan Building in Long Island City. The Rev. Vernon C. Nichols, a Unitarian Universalist minister affiliated with the Church Center at the United Nations, presided over the ceremony. The bride, 31, is a senior financial analyst in the Emerging Markets Group at the Federal Reserve Bank of New York. She graduated summa cum laude from Franklin & Marshall College where she was elected to the Phi Beta Kappa Society.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 2, 2013
The Federal Reserve Board announced Thursday that it terminated an enforcement action against Baltimore-based Harbor Bankshares Corp. The Federal Reserve Bank of Richmond issued the action in July 2010, reaching an agreement with the holding company to take steps to shore up its finances. The company, parent of The Harbor Bank of Maryland, agreed to comply with consent orders from other regulators as well as not to pay dividends, take on more debt or redeem shares without the approval of the Federal Reserve Bank first.
NEWS
Robert L. Ehrlich Jr | March 31, 2013
Remember when President Barack Obama stuck a federal takeover of the student loan program into the "Affordable Care Act," AKA "Obamacare"? The dirty deed was accompanied by a promise that federal control would save taxpayer money and cut off all the private sector profiteers anxious to put the screws to student loan applicants. Now comes the Federal Reserve Bank of New York with a daunting report on the grand experiment: A startling 35 percent of student loan-borrowers under 30 years of age were 90 days or more late in their payments as of December 31, up from 26 percent in 2008 and 21 percent in 2004.
NEWS
By Matthew Hay Brown, The Baltimore Sun | October 18, 2012
A man accused of plotting to attack the Federal Reserve in New York considered striking a lightly guarded military installation in Baltimore, according to authorities. Quazi Mohammad Reswanul Ahsan Nafis, a 21-year-old Bangladeshi national, was arrested Wednesday after authorities said he attempted to detonate what he thought was a bomb outside the Federal Reserve Bank building in lower Manhattan. Undercover officers posing as members of al-Qaida had been meeting with Nafis since July, according to an affidavit sworn by FBI Special Agent John Neas.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 3, 2012
Regal Bancorp Inc. of Owings Mills has reached an agreement with the Federal Reserve Bank of Richmond, the regulator announced Tuesday. The holding company for Regal Bank & Trust agreed not to declare or pay any dividends or incur more debt without the approval of regulators. The company also agreed to submit annual cash-flow projections and quarterly progress reports. Since last fall, Regal Bank & Trust has been operating under an order by the Federal Deposit Insurance Corp. to shore up its finances.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 30, 2011
Baltimore County Savings Bank has converted from a federally chartered savings institution to a state-chartered commercial bank, it announced Friday. Joseph J. Bouffard, the president and chief executive officer of the bank and parent BCSB Bancorp, said the move was is consistent with the bank's community banking focus and would allow it to better "compete in our market. " The conversion became effective as of Friday's closing. It will not change customers' loan and deposit accounts or the Federal Deposit Insurance Corp's $250,000 insurance limit.
BUSINESS
By Hanah Cho, The Baltimore Sun | August 11, 2011
Federal banking regulators have ordered an Eastern Shore bank to take measures to establish adequate capital levels, which could include finding a buyer, merging with another institution or selling shares, among other options. The Bank of the Eastern Shore has 60 days to comply with the prompt correction action issued this week by the Federal Reserve Board, which found the institution undercapitalized at the end of April. The order said that the Cambridge-based bank reported a net loss of almost $3.2 million at the end of June from December 2010 and that its equity capital declined to $7.7 million from $10.9 million.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 6, 2010
Cecil Bancorp Inc. and its subsidiary, Cecil Bank, have reached an agreement with state and federal regulators to take steps to ensure financial soundness. The agreement with the Federal Reserve Bank of Richmond and Maryland Commissioner of Financial Regulation sets up a timeline for the bank and its parent to come up with a series of written plans for maintaining sufficient capital, improving earnings, beefing up board oversight, and other steps. The bank also agreed not to extend further credit, without approval by the board, to borrowers whose loans were criticized by regulators last year.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | February 14, 2009
Several Baltimore-area employers have notified the state of numerous layoffs, as Maryland faces rising unemployment amid a deepening recession. Columbia-based Barton-Cotton Inc., which designs direct-marketing campaigns for nonprofit groups, told state officials that 200 employees would lose their jobs if the company cannot find a buyer. The company filed for Chapter 7 bankruptcy this week. Mark Friedman, the bankruptcy trustee for Barton-Cotton, said yesterday that the parties are trying to arrange for interim business operations to continue and complete work for clients.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 24, 2010
Two directors have been named to the board of the Federal Reserve Bank of Richmond's Baltimore office. Samuel L. Ross, chief executive of Bon Secours Baltimore Health System, was appointed for a three-year term starting Jan. 1. One of the seven current directors, meanwhile, was appointed to a new term. William B. Grant is the chief executive of First United Bank & Trust in Western Maryland. jamie.smith.hopkins@baltsun.com http://twitter.com/realestatewonk
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | September 30, 2010
Maryland's top financial regulator is joining the board of the Federal Reserve. Sarah Bloom Raskin was confirmed as a Fed governor late Wednesday by the U.S. Senate, a move that was expected. Janet Yellen, president of the Federal Reserve Bank of San Francisco, was given the go-ahead to join the board of governors as vice chair. Raskin, the state's commissioner of financial regulation for the past three years, is resigning from that job effective Friday. Her deputy, Mark Kaufman, has been nominated for the commissioner position, a job that requires approval by the state Senate.
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