Updated May 26 at 6:26pm
Banking
425 results total, viewing 51 - 60
(Updated 10:35 a.m.) The Federal Reserve said all 31 big banks subjected to a stress test have sufficient capital to absorb losses during a sharp and prolonged economic downturn. more
Managing sales director with Baystate Financial discusses the Rhode Island market, how the industry has changed and his investment philosophy. more
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. more
Citizens Financial Group Inc. last week donated a renovated, mortgage-free house to a Rhode Island combat-wounded military veteran and his family. The house, arranged through the Military Warriors Support Foundation, was renovated by Citizens Bank colleagues and donated as part of the bank’s “ongoing commitment to supporting those served our country.” Retired U.S. Army specialist Joshua Bacon, a combat engineer with the 41st Engineering Company, was awarded the house. Bacon sustained multiple injuries in 2009 while deployed in Afghanistan, according to the release. “First and foremost my family and I would like to say ‘thank you’ to Military Warrior Support Foundation and Citizens Bank for such a generous act of kindness,” Bacon said in a statement. “Receiving a mortgage-free home will create opportunities for my family not just now, but for generations to come.” Brad Conner, vice chairman and head of consumer banking at Citizens Bank, said in a statement the bank was honored to provide the home for Bacon and his family. “At Citizens Bank our colleagues are committed to supporting the communities where we live and work and are truly excited to have helped refurbish this home for Joshua and his family,” Conner said. In addition to the Warwick house, Citizens also gave Bacon $5,000 gift cards to purchase items for the home. Also attending the house-donating ceremony were Citizens Rhode Island president Marc Paulhus, Citizens Rhode Island market executive Barbara Cottam and Warwick Mayor Scott Avedisian, according to the release. more
(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. more
It’s not common to see fiscally conservative-minded establishments like banks gambling on a football game, but that is exactly what The Washington Trust Co. has done for Sunday’s Super Bowl. more
Fannie Mae and Freddie Mac will let borrowers who have gone through foreclosure buy back their homes at market prices under a policy shift announced by the regulator for the two U.S.-owned companies, Bloomberg News reported. more
(Updated, 10:45 a.m.) Banco Santander SA cut a planned sale of as much as 2.5 billion euros ($3.3 billion) of the riskiest bank bonds to 1.5 billion euros. more
A new generation of Wall Street bankers is about to get a raise, as firms open wallets to head off defections to investment funds and Silicon Valley. more
Royal Bank of Scotland Group Plc plans to remove its U.S. unit Citizens Financial Group Inc. from its balance sheet this year in one or two more share sales. more
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