Financial Services
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Merrill Lynch recognizes DeMarco
Merrill Lynch has recognized Providence-based Edythe DeMarco as being among the top advisers in Rhode Island in its annual “America’s Top 1,000 Advisors: State-by-State” list, according to a press release. more
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
Artists to get financial training
The R.I. State Council on the Arts and The Rhode Island Foundation have announced a collaborative “Assets for Artists” financial training and micro-financial opportunity program in partnership with the Massachusetts Museum of Contemporary Art, the International Institute of New England and other partners. more
Raimondo: Review lowers banking fees by 38%
A comprehensive review of the Rhode Island’s day-to-day banking services resulted in lowering the state’s overall banking fees by 38 percent, R.I. General Treasurer Gina M. Raimondo announced Monday. more
| 3/4/13
BofA settlement process ‘seriously flawed,’ AIG expert says
Bank of America Corp.’s $8.5 billion mortgage-bond settlement was reached through a “seriously flawed” process, said an expert for American International Group Inc., which has challenged the deal. more
Conn.-based SI Financial Group buying Newport Fed
Newport Bancorp Inc., parent company of Newport Federal Savings Bank, is being bought by SI Financial Group Inc., the parent of Savings Institute Bank and Trust Company, for a combination of stock and cash valued at about $61.3 million. more
| 3/5/13
MetLife shifts workers to North Carolina
(Updated, 3:30 p.m.) MetLife Inc., the largest U.S. life insurer, is shifting workers to North Carolina as CEO Steven Kandarian seeks to reduce costs. more
R.I. companies announce quarterly dividends
Some of Rhode Island’s largest companies announced second quarter 2013 dividends this Wednesday, which will be paid to shareholders in the coming months. more
Interest rates at R.I. banks dropped 25% from ’11, study says
Interest rates offered by Rhode Island’s banks and credit unions for certificate of deposit and savings accounts fell an average 25 percent between 2011 and 2013, according to a study released Wednesday by GoBankingRates.com. more
| 3/6/13
BofA reputation in bottom 10
Bank of America Corp. earned the No. 5 spot on MarketWatch’s list of the 10 companies with the worst reputations. more
| 3/6/13
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