Updated April 25 at 4:56pm
Financial Services
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Financial executives in Rhode Island and the surrounding regional market point to increasing optimism about the U.S. economy this year, tempered by concern about intensifying competition in banking, as well as among businesses across the board. more
PROVIDENCE – A judge has allowed the Wyatt Detention Center in Central Falls to enter into receivership after officials said the facility is facing serious fiscal problems, WPRI-TV Channel 12 reported on its website last week. more
Meeting face to face is a critical element in building relationships, so some banks, including Bank of America and Savings Institute Bank & Trust, are expanding the use of videoconferencing to maintain one-on-one conversations among employees in different locations and to offer customers an opportunity to meet with specialists, such as mortgage loan officers. more
Bank of America Corp. failed to win dismissal of two government lawsuits in which it’s accused of misleading investors about the quality of loans tied to $850 million in residential mortgage-backed securities. more
JPMorgan Chase & Co. engaged in a “pattern of discriminatory” lending that led to foreclosures, the city of Miami said in a lawsuit filed last week in federal court, the latest in a series of similar claims against the nation’s largest banks. more
Bank Rhode Island’s BizHub website has generated a strong response to the resources offered and the spotlight on featured companies in the nine months since it was introduced, according to a June 3 update on the site from the bank. more
Bristol County Savings Bank has been designated an SBA Preferred Lender, according to an announcement by the Massachusetts District of the U.S. Small Business Administration on June 12. more
Representatives of AllianceBernstein Investments, program manager for the Rhode Island CollegeBoundfund , the 529 college savings plan, sponsored a seminar for financial advisers and attorneys on May 29 as part a national education day on the program. more
’s Credit Union Chief Financial Officer John Knierimdiscusses increasing competition from nonbank institutions that offer reloadable prepaid cards. more
How do you encourage employee feedback? more
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