Banking
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BofA settlement process ‘seriously flawed,’ AIG expert says
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. more
Free seminar for first-time homebuyers
A free seminar, “First-Time Homebuying Made Easy,” will be held on Monday, Aug. 6, 2012 at 6 p.m., at Washington Trust’s Reservoir Avenue Office at 645 Reservoir Ave., in Cranston. more
BofA small business lending increases 78% in R.I. in 2012
Bank of America Corp. initiated $65.5 million in total new loan production for small business in the Ocean State during 2012, a 78 percent increase from the roughly $37 million in total loan production initiated during 2011. more
| 1/24/13
Greenspan and Bernanke: forgotten Manchurians?
The first quarter of 2012 was a record-breaking one for the financial markets. The S&P 500 gained more in one quarter than it has since 1998 and the NASDAQ had the best quarter in its history, though still below its all-time high of 5,000. more
Guest Column: David F. Brochu | 4/23/12 | 1 comment
Rockland Trust parent’s profits decline 10.8% in 4Q
Independent Bank Corp., the parent of The Rockland Trust Co., reported fourth-quarter net income of $10 million, or 45 cents per diluted share, a 10.8 percent decline from the fourth quarter of 2011. more
| 2/1/13
Sovereign Bank profits rise 27% in 2Q
Sovereign Bank, N.A. – a subsidiary of Banco Santander S.A. – saw its 10th consecutive quarter of profitability, with net income of $127 million, an increase of 27 percent compared with the $100 million net income reported in the second quarter of 2011. more
| 7/26/12
Five Questions With: John P. Sullivan
The Washington Trust Co.’s senior vice president for technology talks about what concerns him. more
RBS managers condoned Libor manipulation during expansion
Royal Bank of Scotland Group Plc managers condoned and participated in the manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired. more
Citizens Bank has most deposits in R.I., says FDIC
RBS Citizens Bank remained Rhode Island’s leading deposit holder during the fiscal year ended June 30, according to the Federal Deposit Insurance Corporation. more
| 10/9/12
BofA surge affirms Buffett bet as Moynihan recovers from gaffes
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. more
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