As pockets of the real estate market in Rhode Island climb out of the economic sludge of recession, Providence’s minority neighborhoods have been purposely bypassed by Santander Bank’s prime mortgage lending, according to a May 29 lawsuit filed by the city against the U.S. operations of the Madrid-based bank.
Seventeen people in Rhode Island opened a total of 27 checking and savings accounts to deposit tax refunds during the 2014 tax season through an award-winning pilot program run by the nonprofit Capital Good Fund in Providence.
Financial executives in Rhode Island and the surrounding regional market point to increasing optimism about the U.S. economy this year, tempered by concern about intensifying competition in banking, as well as among businesses across the board.
Home Loan Investment Bank, which is headquartered in Warwick, has opened a new residential lending office in Newport. A grand opening for the new office, located on Bellevue Avenue in the heart of Newport’s business district.
A comprehensive report , “Risky Business: The Economic Risks of Climate Change in the United States,” released June 24, warns that rising seas, increased damage from storm surge and more frequent bouts of extreme heat all have specific and measurable impacts on the nation’s current assets and economic activity.
The Federal Reserve extended deadlines until next year for new capital plans from Citigroup Inc. and the U.S. units of HSBC Holdings PLC, Royal Bank of Scotland Group PLC and Banco Santander SA after objecting to earlier versions.
By Dakin Campbell and Jeff Kearns Bloomberg News
Starkweather & Shepley Insurance Brokerage Inc. has been named an “Elite Agency” by Insurance Business magazine, the company announced June 13. Recognition as an Elite Agency is based on exceptional customer service, providing employees with the tools for success and community service.
Much has changed since Barrington resident Maria F. Barry started in the commercial-credit department of Fleet Boston Financial in 1987, starting with the regional bank’s acquisition by national lending giant Bank of America. Twenty-seven years later, Barry is now community-development-banking national executive for Bank of America Merrill Lynch, in charge of the bank’s affordable and mixed-income housing investments. With demand for rental housing soaring across the country and government-housing subsidies static at best, affordable developers and their lenders are struggling to fill financing gaps. more
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