Banking
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WashTrust has a busy month
The Washington Trust Co. reported that it has provided commercial mortgage financing to EP Apartments LLC to acquire 42 units at East Pointe Condominiums, a Waterbury, Conn., complex with 64 units. more
Five Questions With: Deborah Sementa
New England College of Business and Finance’s Business Ethics and Compliance program chair talks about the new qualified-mortgage rule that puts into place the “ability-to-repay” standard for all mortgage lenders. more
RBS shareholders sue for $6B on 2008 rights offering
Royal Bank of Scotland Group Plc and former CEO Fred Goodwin were sued by about 12,000 shareholders who said the lender misled them in 2008 when it issued new shares months before a government bailout. more
Europe’s banks may need to shrink to cut costs, Barclays says
The European banking industry may have to consolidate further if revenues don’t recover and firms don’t achieve their cost-savings targets, according to a Barclays PLC research note. more
BofA traders post gains all quarter as Morgan Stanley stumbles
Bank of America Corp.’s traders posted gains every business day during the first quarter as Morgan Stanley’s lost money in eight sessions, double the rate a year earlier. more
BofA urges dismissal of U.S.’s $1B faulty mortgages suit
Bank of America Corp. urged a federal judge to throw out a $1 billion fraud lawsuit filed by the U.S. alleging it sold defective residential mortgage loans to Fannie Mae and Freddie Mac that defaulted. more
Santander names Javier Marin as CEO after Saenz quits
Banco Santander SA, Spain’s biggest bank, named Javier Marin as its new CEO, turning to a leader from a younger generation after Alfredo Saenz resigned. more
Customers Bank earns top marks on Bank Director list
Bank Director magazine has awarded Customers Bank high rankings in two categories of the magazine’s 2013 Growth Leaders Ranking list, the bank announced Monday. more
BofA, Wells Fargo to be sued over mortgage deal
Bank of America Corp. and Wells Fargo & Co. will be sued by the state of New York for allegedly violating terms of a $25 billion nationwide settlement over foreclosure practices. more
Van Saun to head Citizens in U.S. as Alemany retires
Royal Bank of Scotland Group Plc named Nathan Bostock as finance director to replace Bruce Van Saun, who is moving to run Citizens Financial Group Inc. as the British lender prepares to sell a stake in the U.S. division. more
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