The name NewportFed has been phased out nine months after the bank’s acquisition by Willimantic, Conn.-based Savings Institute Bank & Trust, a change in original plans intended to keep the name and tradition of the Rhode Island financial institution,bank President and CEO Rheo Brouillard told Providence Business News.
There is no doubt that Barbara Cottam is an accomplished businessperson. She serves as executive vice president, head of corporate affairs and Rhode Island market executive for RBS Citizens Financial Group, Inc., a once-local financial group that has grown to considerable size across the nation. But speaking to Cottam one gets the sense that her business accomplishments are means to an end beyond the bottom line.
(Updated, 3:26 p.m.)
The city has filed a federal lawsuit against Santander Bank alleging that the financial institution discriminated against the city’s minority communities by refusing to make prime mortgage loans as required by the Fair Housing Act, according to a press release from Mayor Angel Taveras.
Royal Bank of Scotland Group PLC agreed to sell its minority stake in a private-equity unit to an investor group led by buyout firm Adams Street Partners LLC, according to two people with knowledge of the matter.
By Kiel Porter, Richard Partington and Sabrina Willmer Bloomberg News
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