Even as it posted a record quarterly profit of $10 million for the third quarter, Washington Trust Bankcorp Inc., parent company of The Washington Trust Co., is confronting the sluggish economy and competitive market. The effort includes a long-term plan to revise company pensions and expanding business with nonprofits, particularly hospitals and other medical practices.
RBS Citizens is considering adding 800 employees in positions including loan originators for small- and mid-sized businesses and in wealth management divisions, according to Boston Business Journal.
In an effort to reduce the use of payday lending that often draws financially fragile families into a worsening debt cycle and, in the long-term, to have a positive impact on the state’s economy, the United Way of Rhode Island awarded a $56,950 grant to help launch an innovative financial counseling and loan center in Woonsocket.
Bank of America Corp.’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, the U.S. said.
By Phil Milford and Edvard Pettersson Bloomberg News
Teens have a new way to learn smart money habits and prepare to finance their education with JA Build Your Future, an app designed to assist with financial planning, according a Sept. 26 announcement from Junior Achievement and PwC.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.