Banking
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RBS loss widened in 2012 on swaps, PPI redress provisions
Royal Bank of Scotland Group PLC, Britain’s biggest taxpayer-owned lender, posted a wider full-year loss after it set aside an additional 1.1 billion pounds ($1.6 billion) to compensate clients wrongly sold insurance and interest-rate hedging products. more
BofA surge affirms Buffett bet as Moynihan recovers from gaffes
Brian Moynihan was impatient. It was August 2011, and the Bank of America Corp. chief executive officer was reviewing plans to impose a $5 monthly fee on debit-card users. more
WCCU donates $10K to high school sports
The Westerly Community Credit Union donated $2,265 to each of four high school sports boosters from proceeds of its 29th annual holiday basketball tournament held, according to a press release. more
CGF anticipates increase in tax prep
The Capital Good Fund anticipates providing free tax preparation for 600 families this year, up from 200 last year and 26 in 2010, Executive Director Andy Posner said in an e-mail. more
Aite: Emerging markets, rising fund flows expected
Among the trends expected to impact institutional securities and investments in 2013 are investor fund flows rising and shifting to emerging markets. more
RBS leads European banks higher on preparations for Citizens IPO
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, led European bank shares higher as it prepared to sell a stake in its Citizens Financial Group Inc. unit through an initial public offering. more
Why should taxpayers give big banks $83B a year?
On television, in interviews and in meetings with investors, executives of the biggest U.S. banks -- notably JPMorgan Chase & Co. Chief Executive Jamie Dimon -- make the case that size is a competitive advantage. It helps them lower costs and vie for customers on an international scale. Limiting it, they warn, would impair profitability and weaken the country’s position in global finance. more
R.I. homeowners receive 4Q mortgage relief valued at $59M
Homeowners in Rhode Island are continuing to receive financial relief from the five mortgage service providers at the center of the National Mortgage Settlement, Attorney General Peter F. Kilmartin announced. 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
Citizens Bank promotes tax-credit campaign
The Citizens Bank Foundation is supporting the Earned Income Tax Credit Awareness Campaign with a $15,000 grant for media outreach, according to a press release. more
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