Banking
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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
Brookline Bancorp Inc., the parent company of Bank Rhode Island announced on Thursday it has set aside $4.2 million to cover possible losses from two business loans BankRI issued shortly after Brookline bought the bank in January. more
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
The U.S. Small Business Administration has joined with the U.S. Department of Veterans Affairs and the U.S. Department of Defense to launch a training program for transitioning service members and veterans to help them become entrepreneurs and create jobs. Operation Boots to Business: From Service to Startup is a national initiative that will be piloted with the U.S. Marine Corps. more
Bank of America Corp.’s brokerage and JPMorgan Chase & Co.’s asset-management division are among businesses ripe for divestiture if U.S. banks break up to improve stock prices, according to CLSA Ltd.’s Mike Mayo. more
As part of a renewed focus on the Michigan area, Flagstar Bancorp Inc. has entered into a definitive agreement with a wholly-owned subsidiary of CIT Bank for CIT to acquire $1.264 billion in commercial loan commitments from Flagstar. more
Senior vice president and director of marketing, strategy and communications at Rockland Trust talks about the BreakFACTS workshop series, which has the financial institution and Stonehill College teaming again to help small and mid-sized nonprofits. more
TAUNTON, Mass. – The South Eastern Economic Development (SEED) Corporation recently made a micro loan to Newport Potters Guild to enable the small business to start a pottery and clay art gallery and create four new jobs. more
Bank of America Corp. more than doubled its profits in 2012 -- with some help from the tax code. more
Bank of America Corp. yesterday struck deals to settle lending complaints, sell rights to service $300 billion of mortgages and repair relations with regulators. For CEO Brian T. Moynihan, it offers his best chance to rebuild the home lending business. more
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