Bank of America Corp. agreed to a $9.5 billion settlement over claims tied to faulty mortgages and boosted its dividend for the first time since 2007, the latest steps to put the financial crisis behind the firm.
The number of banks headquartered in Rhode Island decreased during 2013, a trend that has continued for the past three years, according to data from the Federal Deposit Insurance Corp. The trend in the declining number of bank headquarters has been seen in several New England states during the past year.
Homeowners with underwater mortgages, in which the value of the home is less than what’s owed on the mortgage, have not been required to pay taxes on the difference between the mortgage balance and the sale price in short sale through 2013, but that could change in 2014.
Banco Santander SA, Spain’s biggest bank, is primed to deliver improved earnings led by recovery in its home market as charges for bad loans subside and lending recovers, Chairman Emilio Botin said.
Banco Santander SA was fined 12.4 million pounds ($20.5 million) by the U.K. regulator for flaws in investment advice given to customers as the watchdog clamps down on misconduct in consumer lending.
By Suzi Ring and Ben Moshinsky Bloomberg News
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