Community banker Elizabeth Duke took the oath of office as a member of the Federal Reserve's Board of Governors on Tuesday and will vote at the central bank's meeting on interest rates later in the day, the Fed said.

For years, banks have charged customers hefty fees for overdrawing their checking accounts. Now a growing number of institutions are charging customers such fees even before the transaction overdraws their account.

Boston Private Financial Holdings has increased its investment in Bingham, Osborn & Scarborough (BOS) of San Francisco and Silicon Valley to 70 percent.

The Commissioner of Banks has filed a temporary order to cease and desist activity in Massachusetts against The Mortgage Specialists Inc. of Plaistow, N.H.

Eileen B. Buckley has been named president and chief executive officer of First Financial Trust, a subsidiary of The Savings Bank.