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The Federal Reserve said 17 of the 18 largest U.S. banks could withstand a deep recession and maintain capital above a regulatory minimum, a sign of how higher standards and supervisory prodding are strengthening the financial system.
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By Craig Torres and Joshua Zumbrun |
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Bank of America Corp. earned the No. 5 spot on MarketWatch’s list of the 10 companies with the worst reputations.
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By PBN Staff
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Interest rates offered by Rhode Island’s banks and credit unions for certificate of deposit and savings accounts fell an average 25 percent between 2011 and 2013, according to a study released Wednesday by GoBankingRates.com.
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By PBN Staff
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Bank of England Governor Mervyn King urged the government to split up Royal Bank of Scotland Group Plc and speed up the return of Britain’s biggest publicly owned lender to private ownership following its bailout in 2008.
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By Gavin Finch and Scott Hamilton |
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Newport Bancorp Inc., parent company of Newport Federal Savings Bank, is being bought by SI Financial Group Inc., the parent of Savings Institute Bank and Trust Company, for a combination of stock and cash valued at about $61.3 million.
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By PBN Staff
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Bank Rhode Island – the local subsidiary of Brookline Bancorp Inc. – saw net income jump 35.5 percent during 2012, according to its year-end report filed with the Federal Deposit Insurance Corporation.
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By PBN Staff
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Bank of America Corp.’s $8.5 billion mortgage-bond settlement was reached through a “seriously flawed” process, said an expert for American International Group Inc., which has challenged the deal.
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By David McLaughlin |
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Royal Bank of Scotland Group PLC, Britain’s biggest taxpayer-owned lender, posted a wider full-year loss after it set aside an additional 1.1 billion pounds ($1.6 billion) to compensate clients wrongly sold insurance and interest-rate hedging products.
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By Gavin Finch and Howard Mustoe |
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Brian Moynihan was impatient. It was August 2011, and the Bank of America Corp. chief executive officer was reviewing plans to impose a $5 monthly fee on debit-card users.
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By Hugh Son |
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Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, led European bank shares higher as it prepared to sell a stake in its Citizens Financial Group Inc. unit through an initial public offering.
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By Gavin Finch |