Banking & Finance

After years of reducing branches in Connecticut, Banco Santander’s $12.3 billion purchase of Webster Financial would give it one of the largest footprints in the state.

CrossPoint Federal Credit Union’s former headquarters branch in Hamden is slated to relocate following its merger with the much larger Nutmeg State Financial Credit Union.

Stamford-based Webster Financial Corp., a dominant player in Connecticut’s banking scene, has entered a deal to be acquired by Spain-based Banco Santander.

The state Department of Banking has ordered a debt settlement payment processor to repay more than $722,000 in fees collected from residents while allegedly operating without required licenses.

Synchrony Financial said a voluntary early retirement program trimmed its fourth-quarter profit, spotlighting a potential shift for the company’s local workforce.

A Dubai resident faces federal charges for allegedly defrauding a Connecticut-based commercial lender out of hundreds of thousands of dollars as part of a nationwide scheme targeting small business loans.

Connecticut Innovations (CI), the state’s quasi-public venture capital arm, said Wednesday it generated about $41 million in returns during the second quarter of its fiscal year, which ended Dec. 31 — a sharp increase from $7 million in the first quarter.

Manchester-based Bob’s Discount Furniture could raise up to about $370 million in its initial public offering, as the retailer both restructures its balance sheet and outlines plans to more than double its store base over the next decade.

The Norwich-based mutual bank has grown to $1.2 billion in assets without acquisitions, expanding into Greater Hartford by retrofitting former community bank branches and betting demand remains strong for locally based institutions offering personal service.

A state resident has filed a proposed class action lawsuit against Ellafi Federal Credit Union, accusing the Middletown-based financial institution of failing to protect customers’ personal information in a data breach that affected more than 17,600 people last year.