Banking & Finance

Massachusetts policymakers need to fix a "deeply flawed" system that falls short of monitoring and enforcing double-dipping by former public employees who simultaneously collect pensions and paychecks from subsequent work, a state watchdog warned.

The Senate on Thursday passed a "compromise" version of legislation affecting debt collection practices in Massachusetts, and according to its sponsor, the bill has a shot at final passage thanks to industry representatives collaborating on the rewrite.

Years after public transit advocates launched a campaign to roll out a widespread low-income fare at the T, the agency's board of directors stamped its approval on a formal plan that will provide an option to riders who earn less than their peers but do not qualify for one of the more narrowly-tailored existing programs.

Worcester Polytechnic Institute has received $18.6 million in donations in the last two months, the university announced as part of the inauguration ceremony of Grace Wang, who took over as its 17th president in April.

While some private equity deals might be viewed positively –  such as investing to keep rural or community hospitals open –  the researchers cautioned the transactions typically lead to higher patient costs, poorer quality of care and reduced staffing. 

Highlighted by its collaboration with the Worcester Regional Research Bureau on the legacy of redlining in the city, Worcester Business Journal took home eight awards at New England Newspaper & Press Association’s 2023 New England Better Newspaper Competition on Saturday.

The Gardner location, based at 55 Lake St., was first opened in 1924 as the firm’s first office in New England.

The Senate plans votes on Thursday on bills seeking to improve the fairness of debt collection practices, and to make clear that no one can be imprisoned for debt

John Perten, an attorney from Boston-based law firm Sheehan Phinney Bass & Green, which represented Chiller in the case, declined to disclose details of the settlement to WBJ.

Acton medical device manufacturer Insulet has hired Ana Maria Chadwick as its new CFO. She will be the highest-ranked female executive at Insulet, which for three years was the only public company in Central Massachusetts with a woman as CEO.