Financial Services
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The destruction of home values caused by the Great Recession remains a drag on Rhode Island’s economy. And unfortunately, the actions of U.S. District Court Judge John J. McConnell have kept the state from recovering. more
The move of Edward O. “Ned” Handy III from his position as Citizens Bank president for Rhode Island and Connecticut to The Washington Trust Co. as president and chief operating officer suggests more than the transition of a well-respected banking executive from one financial institution to another. more
More than 2,000 Rhode Island property owners, many whose houses or businesses came through Hurricane Sandy and the 2010 floods without a scratch, are now feeling the effects of those and other devastating storms. more
Seven years into what he says is a thriving boat-rental business that offers eight sail and power boats, Wickford Boat Rentals owner Dave Fetherston got a notice from his insurance carrier that he was being dropped. more
It’s about to get tougher to drive without auto insurance in Rhode Island. more
Hunter Insurance President Brian Hunter stays on top of issues in his field, and one that the Cumberland-based agent has paid attention to lately is the ability of drivers in some states to access their car-insurance ID card digitally. more
Americans are egalitarian. This trait has long frustrated plutocrats who, more than a century ago, invented Social Darwinism to teach that the rich prospered because they were smart and productive. Few people believed this, not then and not now. more
(Updated, 2:35 p.m.) Allstate Insurance Company this week said it wants to add more than 30 new insurance agents in Rhode Island over the next year, revising expansion plans first announced in July 2012. more
Bank of America Corp.’s Countrywide unit sold thousands of bad loans, defrauding Fannie Mae and Freddie Mac out of more than $1 billion in mortgages, prosecutors said at the start of a federal trial. more
Bank of America Corp. was ordered to pay $2.2 million to black job applicants who were unfairly rejected for teller and clerical positions in a case spanning almost two decades, according to the U.S. Department of Labor. more
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