The name NewportFed has been phased out nine months after the bank’s acquisition by Willimantic, Conn.-based Savings Institute Bank & Trust, a change in original plans intended to keep the name and tradition of the Rhode Island financial institution,bank President and CEO Rheo Brouillard told Providence Business News.
(Updated, 3:26 p.m.)
The city has filed a federal lawsuit against Santander Bank alleging that the financial institution discriminated against the city’s minority communities by refusing to make prime mortgage loans as required by the Fair Housing Act, according to a press release from Mayor Angel Taveras.
Royal Bank of Scotland Group PLC agreed to sell its minority stake in a private-equity unit to an investor group led by buyout firm Adams Street Partners LLC, according to two people with knowledge of the matter.
By Kiel Porter, Richard Partington and Sabrina Willmer Bloomberg News
Rhode Island Attorney General Peter F. Kilmartin has put out a warning to alert bank customers about the latest debit card scam, in which the scammer seeks to get sensitive bank account information.
South Eastern Economic Development Corp. has received a $25,000 grant from Rockland Trust Community Development Corp. to provide financial counseling to low- and moderate-income owners of small businesses in Rhode Island and Massachusetts.
Mark I. Levine has joined East Providence-based RISCO Insurance Brokerage as president of Florida operations to lead the firm’s expansion into a new geographical market region. “We have been expanding our geographic reach over the past five years and opening this location will take us to the next level,” said RISCO Insurance Brokerage President Peter Plumb.
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