Banking
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BofA says AIG can’t sue over mortgage bonds sold in bailout
Bank of America Corp. lawyers asked a federal judge to dismiss American International Group Inc.’s fraud claims over devalued Countrywide Financial mortgage-backed securities it had to sell as part of the government bailout. more
NewportFed holding company sees profits surge 33% in 3Q
Newport Bancorp Inc., the holding company for Newport Federal Savings Bank has posted a third quarter net income of $417,000, or 12 cents per diluted share, a 33 percent increase from the $278,000, or 8 cents per diluted share, posted for the quarter ended Sept. 30, 2011. 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
Nuclear energy must be in New England’s power mix
Calls by former Citigroup Inc. CEO Sanford Weill and others to break up the big banks reflect lingering public fear and anger toward financial institutions that seem too big to fail. more
Guest Column: Phillip Swagel | 9/10/12
Flagstar avoids delisting on NYSE
Flagstar Bancorp Inc. has been notified by the New York Stock Exchange that it is in compliance with the exchange’s pricing rules and no longer faces possible delisting. more
FM Global retains strong, stable rating
For the seventh consecutive year, FM Global has received a “very strong” AA financial strength rating by Fitch Ratings and been given a “stable” rating outlook. more
BofA attracts record new assets in ’12
Bank of America Corp., the second-largest U.S. lender, attracted record new assets last year to its unit-servicing retirement and other employee-benefit plans as it cross-sold products through the commercial bank, Bloomberg News said Tuesday. more
NeighborWorks BRV named ‘champions’
Citizens Bank and WJAR-TV NBC 10 have named NeighborWorks Blackstone River Valley in Woonsocket a 2012 Champion in Action in the category of neighborhood development. more
Banks are increasing hiring for home loans
U.S. banks that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing after shortages blocked homeowners from getting lower rates. more
Bloomberg News | 11/26/12
Free seminars by the area’s small-business trainers
The Rhode Island Small Business Recovery Program and SCORE will host sixteen free seminars presented by the area’s finest small-business trainers. All seminars will be held at the Centerville Seminar Center at 875 Centerville Road, Warwick, Building 2, Suite 5. more
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The 2nd Annual Healthiest Employers event will recognize employers who have strong, effective Health and Wellness programs in the region. Deadline for enrollment is June 28th.
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