Updated May 5 at 3:05pm
Local News
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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
Small businesses would be able to write off capital purchases more quickly under a $73.1 billion tax reduction passed Thursday by the U.S. House of Representatives. more
Rhode Island, along with Maine and Massachusetts, will participate in redesigns of college-level student financial aid programs through a project offered by the New England Board of Higher Education. more
Santander UK PLC and Barclays PLC said they don’t plan to implement the kind of curbs on riskier home loans imposed by Britain’s two largest nationalized lenders. more
U.S. stocks declined, after benchmark indexes climbed to all-time highs Tuesday, as euro-area data showed slower-than-forecast inflation ahead of this week’s European Central Bank meeting. more
Orders for durable goods unexpectedly climbed for a third month in April, a sign U.S. factories will help the world’s biggest economy strengthen. more
Bank of America Corp. rose the most in more than a year after the firm resubmitted its request for a bigger payout to the Federal Reserve. more
U.S. stocks rose, following the first back-to-back weekly losses since January for the Standard & Poor’s 500 Index, as Internet and small-cap shares extended a rally after a selloff. more
U.S. banks had $37.2 billion in first-quarter net income as mortgage and trading revenue fell, the Federal Deposit Insurance Corp. said in its quarterly report on industry earnings. more
Federal Reserve Bank of Philadelphia President Charles Plosser said the strongest U.S. economy in years, buoyed by a solid housing market, may push the jobless rate below 6 percent by year-end. more
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