Joe O'Shea

Lifelong Storyteller

Innovative Bank-Treasury Partnership has Changed how America Does Business

Launched last fall, the Internet Payment Platform (IPP) promises to be a groundbreaking Web-based tool that makes it much easier for federal agencies and their vendors to conduct business. While streamlining the order-to-payment cycle is an innovative effort for the U.S. Treasury, which owns the platform, what wasn’t so groundbreaking was the longstanding partnership that produced this evolving electronic marketplace.

Banks Hope to Make a Difference with Mortgage Relief Fund

In response to the subprime mortgage crisis and rising foreclosures – and encouraged by Boston Fed leadership – Citizens Bank, Sovereign Bank, TD Banknorth, Webster Bank and Bank of America launched the Mortgage Relief Fund, a $125-million initiative that aims to help some New England homeowners refinance into more affordable mortgages, enabling many to avoid delinquency and foreclosure.
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