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Banking & Finance

1st Priority Mortgage gains Accredited Social Impact Lender status (access required)

The National Association of Minority Mortgage Bankers of America has assigned Accredited Social Impact Lender (ASIL) status to 1st Priority Mortgage. The ASIL 12-month certification program involves investigation, research, consultation and goal setting, and, according to the NAMMBA, is designed ...

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City launches Small Business Boost counseling pilot program (access required)

The city of Rochester and Cities for Financial Empowerment Fund have launched Small Business Boost, a pilot program designed to connect small business owners and entrepreneurs to one-on-one counseling. Through the Small Business Boost pilot, Rochester Financial Empowerment Center (FEC) ...

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SBA extends EIDL deferment period another six months (access required)

Nearly 9,500 small businesses in the Finger Lakes region will be allowed to defer repayment on COVID-19 Economic Injury Disaster Loans (EIDL) for another six months. U.S. Senate Majority Leader Charles Schumer (D-N.Y.) said today that the Small Business Administration ...

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Insider trading: The case of misappropriation theory (access required)

The U.S. Securities and Exchange Commission (SEC) has become increasingly aggressive in bringing insider trading charges. In this first of two columns on the topic of insider trading, we discuss a case that has the potential to expand commonly understood ...

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With moratoriums expired, foreclosure activity is underway (access required)

Post-pandemic foreclosure activity continues in Monroe County, but not nearly to the degree seen in other areas of the country. There were 56 properties in some phase of foreclosure in February in Monroe County, down six from January, according to ...

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KeyBank announces support of humanitarian efforts for Ukraine (access required)

KeyBank announced support for humanitarian efforts currently underway for the people of Ukraine, including providing grants to organizations helping with humanitarian efforts there and creating an employee matching gift program.   KeyBank Foundation will give a $100,000 grant to the ...

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Visions FCU launches online Bitcoin services   (access required)

Visions Federal Credit Union has launched a new online feature for members to buy, hold and sell Bitcoin.  Through its partnership with NYDIG, a Bitcoin company, Visions has become one of the first credit unions to offer members an integrated platform ...

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Corporate Challenge back on the running calendar (access required)

After cancellation in both 2020 and 2021 due the COVID-19 pandemic, the 30th running of the J.P. Morgan Corporate Challenge in Rochester is once again on the in-person schedule. JPMorgan Chase, owner and operator of the Corporate Challenge, announced the ...

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ERS acquires Nagel Consulting (access required)

Employee Retention Solutions, a subsidiary of RDG+Partners, has acquired Nagel Consulting. The acquisition of the Greece-based employee benefits firm enables RDG+Partners to expand payroll, employee benefits and retirement services for clients. Jeffrey Nagel has joined Employee Retention Solutions (ERS) as ...

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KeyBank invests in RRH’s nursing workforce efforts (access required)

KeyBank is investing $100,000 in Rochester Regional Health to support its Nursing Workforce Development Program.   The funding will be used to provide financial assistance to students at the Isabella Graham Hart School of Practical Nursing within Rochester Regional Health’s College ...

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Five Star Bank expands into Baltimore and Washington, D.C. with commercial hires (access required)

Five Star Bank, a subsidiary of Financial Institutions Inc., announced Tuesday the launch of a commercial platform in Baltimore and Washington, D.C.   John Mangan was named senior vice president, commercial real estate executive and Mid-Atlantic president, for the bank.   ...

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Bank of America donates to Foodlink   (access required)

Foodlink recently received a $25,000 donation from Bank of America to address food insecurity in Rochester.   Over 150,000 individuals in Rochester live in food insecure homes, including 49,400 children.  To address the recent uptick in food insecurity, Bank of America ...

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I Bonds: A rare bright spot for the income investor (access required)

Investors have a natural affinity for income-producing investments. A steady stream of investment income is comforting even if it is not optimal from a total return perspective. Many investors, especially retirees, would gladly trade away some of the anxiety induced ...

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