Mass. bankers group cancels Bermuda trip

The Massachusetts Bankers Association says now is not a good time to hold a convention in Bermuda.

The group's chairman, Kevin Bottomley, says the economic downturn and the federal bailouts of banks have prompted the association to move the gathering to Boston's Fairmont Copley Plaza. The convention is set for April 30 to May 2.

Bottomley says it's the right move in unprecedented economic times, and there's a perception that conventions held outside the U.S. are not appropriate.

The bankers association's convention was to be held at Bermuda's Fairmont Southampton hotel, known for its pink-sand beaches and private golf course.

The group also cut back the event from four days to three and put a hold on plans for next year's convention in Florida. (AP)