(Updated, 3:26 p.m.)
The city has filed a federal lawsuit against Santander Bank alleging that the financial institution discriminated against the city’s minority communities by refusing to make prime mortgage loans as required by the Fair Housing Act, according to a press release from Mayor Angel Taveras.
RBS Citizens, the commercial banking division of Providence-based Citizens Financial Group Inc., is expanding into new geographic markets with an emphasis on growth industries such as health care, technology and franchising, the bank announced Wednesday.
Citizens Financial Group Inc., releasing results for the first time since its initial public offering, said third-quarter profit rose 31 percent as the bank set aside less money for bad loans. The firm declared a 10 cent quarterly dividend.
Bank of America Corp., the second-biggest U.S. bank, raised its quarterly dividend to 5 cents a share and dropped plans to buy back stock after the Federal Reserve approved its resubmitted capital plan for 2014.
By Michael J. Moore and Dakin Campbell Bloomberg News
(Updated, 1 p.m.)
Bank of America Corp. agreed to pay about $16.7 billion to end federal and state probes into mortgage bond sales, the harshest penalty yet related to loans that fueled the 2008 financial crisis.
By David McLaughlin, Tom Schoenberg and Hugh Son Bloomberg News
Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.