Banking
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Europe’s banks may need to shrink to cut costs, Barclays says
The European banking industry may have to consolidate further if revenues don’t recover and firms don’t achieve their cost-savings targets, according to a Barclays PLC research note. more
RBS likely to face more Libor sanctions, Japanese watchdog says
Royal Bank of Scotland Group Plc faces further sanctions in Japan after the country’s securities regulator found traders at Britain’s biggest publicly owned lender attempted to manipulate benchmark interest rates. more
BofA to revamp branch design to attract customers
Bank of America Corp. plans to renovate its 5,400 domestic branches to include tablet-carrying employees and couch and chair lounge areas for customer use in order to coax customers back into its branches, according to a report from USA Today. more
RBS shareholders sue for $6B on 2008 rights offering
Royal Bank of Scotland Group Plc and former CEO Fred Goodwin were sued by about 12,000 shareholders who said the lender misled them in 2008 when it issued new shares months before a government bailout. more
BofA finds profit in foreign credit maneuvers
Bank of America Corp. more than doubled its profits in 2012 -- with some help from the tax code. more
RBS sued by ING, Illinois teachers over 2008 rights offering
Royal Bank of Scotland Group Plc was sued by a group of 21 pension funds and investment firms claiming the lender misled them about its finances when selling new shares in 2008, months before a government bailout. more
Moynihan would like to be BofA’s chief for rest of his life
Brian T. Moynihan, who endured record losses and public thrashings while cleaning up Bank of America Corp.’s mortgage mess, said he wouldn’t mind being CEO of the lender forever. more
McDonough to succeed Doyle as head of Randolph Savings
James McDonough has been tapped to serve as president and CEO of Randolph Savings Bank, succeeding the retiring Jack Doyle, Chairman of the Board Richard Pierce announced Monday. more
| 3/25/13
Cape Wind secures financing for wind farm construction
Cape Wind, the company behind a planned 468-megawatt offshore wind farm in Nantucket Sound, announced today that it is one step closer to starting construction. more
| 3/19/13
BofA joins Wells Fargo raising payouts after Fed stress test
Bank of America Corp., Wells Fargo & Co. and American Express Co. boosted payouts to investors after passing U.S. tests of their financial health as banks push to regain luster lost since the 2008 credit crisis. more
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