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Rhode Island ranked 40th among the 50 U.S. states and the District of Columbia for overall financial security of its residents in the 2014 Assets & Opportunity Scorecard released Thursday by the Corporation for Enterprise Development. (Updated, 3:10 p.m.) more
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. more
The Massachusetts economy grew 5.5 percent in the fourth quarter, the third time in 2013 that quarterly growth in the Bay State outpaced the national GDP growth rate, local economy journal MassBenchmarks reported Thursday in its Current Economic Index. more
Rhode Island single-family home prices ended two years of annual declines in 2013, climbing 8 percent compared with 2012, the Rhode Island Association of Realtors said Thursday. more
The U.S. economy expanded at a 3.2 percent pace in the fourth quarter as Americans’ spending climbed the most in three years, laying the ground for further improvement in 2014. more
Rhode Island has earned a “B” for its teacher-effectiveness policies, one of the highest grades in the nation, according to the 2013 State Teacher Policy Yearbook released Thursday by the National Council on Teacher Quality. more
Banco Santander SA, Spain’s biggest bank, said fourth-quarter profit more than doubled as it made fewer provisions for bad loans and income increased in the U.K. more
The Rhode Island Hospitality Association on Wednesday hailed a new restaurant industry forecast from the National Restaurant Association that projects growth of 2.3 percent in sales this year in the Ocean State. more
Paolino Properties has purchased a package of three high-profile properties in Providence’s Financial District for $60 million, the company announced Wednesday. more
The foreclosure rate for residential mortgages in Rhode Island and Massachusetts declined in December year over year, but saw little change on a month-over-month basis, according to real-estate data firm CoreLogic in a report issued Wednesday. more
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