East Greenwich bank agrees to revamp its management practices

Scott Blake

09/06/2019

INDEPENDENCE BANK has agreed to meet numerous requirements regarding its management practices under an agreement with the Federal Deposit Insurance Corp. and the R.I. Division of Banking.

EAST GREENWICH – Federal and state regulators and Independence Bank of East Greenwich have reached a consent agreement in which the bank must ensure that its management practices meet numerous requirements. The agreement was part of the Federal Deposit Insurance Corp.’s latest round of enforcement actions, released publicly Aug. 30. Under the agreement with the…

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