Financial Services
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Firm’s products out of this world
Some of Spectra Systems Corp.’s products will literally be out of this world this summer, on Mars to be exact. The National Aeronautics and Space Administration’s next Mars rover, Curiosity, which landed on the Red Planet Aug. 6. more
U.S. banks to pay $8.5B to settle foreclosure missteps
Ten of the largest U.S. mortgage servicers will pay a combined $8.5 billion under an agreement that will end case-by-case reviews of foreclosure-abuse claims stemming from a 2011 deal with regulators more
Nautic Partners completes sale of Aavid Thermalloy
Middle-market private equity firm Nautic Partners LLC has completed the sale of Aavid Thermalloy LLC to an investor group led by Audax Private Equity, Nautic announced Wednesday. more
| 12/12/12
BofA’s debt cuts leave 3-year capital cushion
Bank of America Corp.’s record $53 billion reduction of of long-term debt in the second quarter will help the lender go three years without needing to tap the bond market, the biggest cushion in its history. more
Cornell joins MIT in scaling back aid even as endowments rise
Cornell University and Massachusetts Institute of Technology are scaling back financial assistance to students, adding to the burden of families already coping with climbing college costs. more
BofA customer satisfaction hits 10-yr low
Customer satisfaction at the Bank of America is at a 10-year low, The Boston Globe reported. more
| 12/11/12
RBS said to fire derivatives trader weeks after Libor fine
Royal Bank of Scotland Group PLC dismissed a London-based interest-rates trader, weeks after settling with regulators over its part in the Libor scandal, two people with knowledge of the situation said. more
Prov. Equity sells stake to two investors
Providence Equity Partners Inc., the buyout firm with holdings in Univision Communications Inc. and the cable-television network of the New York Yankees, sold a minority stake to Florida’s state pension system and a sovereign-wealth fund, Bloomberg News reported last week. more

By Michael Souza
PBN Staff Writer | 10/1/12

Catering to customers has TD Bank in growth position
Mark Crandall has been regional president for Massachusetts and Rhode Island at The Toronto-Dominion Bank and TD Banknorth Inc., since Dec. 31, 2006. He also became regional president for Connecticut in April 2012.Crandall also serves as senior vice president of U. S. personal and commercial banking at TD Bank. He has served as an executive vice president and regional commercial-lending manager of TD Banknorth Inc. Crandall discusses TD Bank’s growth plans and its growing presence in Rhode Island. more

By Michael Souza
PBN Staff Writer | 10/29/12

KLR and Fay & Associates announce merger
The accounting firms of Kahn Litwin Renza & Co. Ltd. and Fay & Associates have merged effective Jan. 1, the firms announced Wednesday. more
| 1/2/13
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