Financial Services
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Bank grants scholarship to outstanding citizen
Austin Faria of Riverside is the second prize winner of Citizens Bank’s annual TruFit Good Citizen Scholarship program. As a result, he has received a $1,000 scholarship for the fall semester at the University of Rhode Island. more
Data shows HARP refinance activity increased
With overall mortgage prepayment activity stable, and with historically low rates, the federal government's Home Affordable Refinance Program has seen considerable activity since the beginning of 2012 according to a recent LPS Applied Analytics report. more
Banks use $1.77T stockpile to double treasury buying
The gap between U.S. bank deposits and loans is growing at the fastest pace in two years, providing lenders with more funds to buy bonds and temper the biggest sell-off in Treasuries since 2010. more
New Coastway branch set to open
Slated to be opened on Monday, Aug. 20, it is Coastway’s eighth branch. more
Washington Trust continues out-of-state focus
The commercial real estate group at Washington has provided a $1.5 million dollar commercial mortgage to Phoenix New Park Avenue LLC for the acquisition of a retail property currently occupied by Advanced Auto Parts, 443 New Park Ave., West Hartford, Conn. more
Mass. Bankers Association elects executives
The Massachusetts Bankers Association has elected 10 executives to serve in new positions on its board of directors. more
Firm’s products out of this world
Some of Spectra Systems Corp.’s products will literally be out of this world this summer, on Mars to be exact. The National Aeronautics and Space Administration’s next Mars rover, Curiosity, which landed on the Red Planet Aug. 6. more
How Google’s example might prevent a bank crisis
The mathematical insight that turned Google Inc. into a multibillion-dollar company has the potential to help the world avert the next financial crisis. If only banks made public the data required to do the job. more
Guest Column: Mark Buchanan | 8/13/12
U.S. bank loans are at post-recession peak
Banks in the U.S. are lending the most since the recession ended in June 2009, supporting an economy weighed down by 8.3 percent unemployment. more
Bloomberg News | 8/13/12
Hero Project in search of some crowd support
Two local toy consultants have put together a plan to develop and market a new line of action figures based not on sports stars or the latest movie, but the world’s greatest heroes in folklore. It’s called The Hero Project, a new generation of action figures based on traditional heroes. Their first figure is based on the Indian hero Rama. more
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