Financial Services
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Fidelity says 401(k) balances reached highest level last quarter
Fidelity Investments, the largest provider of 401(k) retirement plans, said average balances in employer-sponsored accounts reached the highest level since it began tracking values in 2000, as market gains boosted assets. more
RBS, UBS traders to face arrest within month in Libor probe
U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc within a month for questioning over their role in the Libor scandal, a person with knowledge of the probe said. more
Starkweather & Shepley expands in Conn. with acquisition
Starkweather & Shepley Insurance Brokerage Inc. has acquired Ansonia, Conn.-based independent insurance agency Ned Miller Associates, the company announced Wednesday. more
| 11/7/12
Capital Properties profits rise in 3Q
Capital Properties Inc. reported a 2.7 percent rise in profit to $514,000, or 7 cents per share, during the 2012 third quarter compared with earnings of $139,000, or 2 cents per share, during the same 2011 period. more
| 11/7/12
RBS CEO expects to pay over Libor manipulation
Royal Bank of Scotland Group PLC, Britain’s biggest taxpayer-owned lender, said it expects to pay a fine in the coming months to settle regulators’ probes into allegations the lender tried to manipulate Libor. more
BankRI top SBA lender in Rhode Island
Bank Rhode Island is the top U.S. Small Business Administration lender in Rhode Island, granting 83 SBA-backed loans valued at $17.4 million in the federal fiscal year that ended Sept. 30 more
| 11/1/12
Sovereign posts 11th consecutive quarter of profitability in 3Q
Sovereign Bank, N.A. – a subsidiary of Banco Santander S.A. – saw its 11th consecutive quarter of profitability, with net income of $123 million. more
| 10/29/12
Mayhew to succeed Colella as CEO of OceanPoint Insurance
Douglas K. Mayhew, a 26-year veteran of the insurance industry, has been named president and CEO of OceanPoint Insurance Agency Inc. effective Jan. 1, 2013. more
BofA sued by U.S. for $1B over alleged mortgage fraud
(Updated, 3:15 p.m.) Bank of America Corp. was sued by the U.S. attorney in Manhattan for allegedly engaging in a scheme to defraud Fannie Mae and Freddie Mac. more
WashTrust posts 15% increase in 3Q earnings
Washington Trust Bancorp Inc., parent company of The Washington Trust Co., has posted a net income of $8.9 million, or 54 cents per diluted share, for the third quarter, a 15 percent increase from the $7.58 million, or 46 cents per diluted share, during the same quarter of 2011. more
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