Banking
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Raimondo lauds students for financial literacy
Fifth-graders at Old County Elementary School have completed a pilot financial literacy curriculum called Vault and earned recognition from Rhode Island General Treasurer Gina Raimondo for their achievements, according to a press release. more
BofA dropped by Sallie Mae as Barclays wins college card
Bank of America Corp., the second- biggest U.S. lender, divested a $1.3 billion credit-card portfolio after SLM Corp. chose Barclays Plc. for its college-savings program. more
McDonough to succeed Doyle as head of Randolph Savings
James McDonough has been tapped to serve as president and CEO of Randolph Savings Bank, succeeding the retiring Jack Doyle, Chairman of the Board Richard Pierce announced Monday. more
| 3/25/13
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
RBS sued by ING, Illinois teachers over 2008 rights offering
Royal Bank of Scotland Group Plc was sued by a group of 21 pension funds and investment firms claiming the lender misled them about its finances when selling new shares in 2008, months before a government bailout. more
BofA to revamp branch design to attract customers
Bank of America Corp. plans to renovate its 5,400 domestic branches to include tablet-carrying employees and couch and chair lounge areas for customer use in order to coax customers back into its branches, according to a report from USA Today. more
RBS likely to face more Libor sanctions, Japanese watchdog says
Royal Bank of Scotland Group Plc faces further sanctions in Japan after the country’s securities regulator found traders at Britain’s biggest publicly owned lender attempted to manipulate benchmark interest rates. more
BofA misses estimates as mortgage banking weighs on results
(Updated, 10:15 a.m.) Bank of America Corp. reported first-quarter profit that missed analysts’ estimates as lower mortgage banking income and higher legal costs slowed the firm’s turnaround. The shares dropped 3 percent in early trading. more
Community-bank status helping Coastway expand lending
Bill White has served as the president and CEO of Coastway Community Bank since 2000, when the bank merged with the Ocean State Community Credit Union. more
BofA, Citizens ‘about average,’ say J.D. Power and Associates
On J.D. Power and Associates 2013 retail banking ratings for New England, both Bank of America and Citizens Bank ranked “about average” across the board, while Sovereign Bank was labeled as “the rest,” the lowest available score. more
| 4/18/13
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