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IMPROVED PERFORMANCE: Stephen J. White, president and CEO of Westerly Community Credit Union, said the credit union’s net worth has improved since 2011 and it has had “very low delinquency” on loans in recent years.
 / PBN PHOTO/MICHAEL SALERNO

Strong ratings for banks, credit unions

Looking down the federal government’s list of failed banks since 2000, it’s hard to believe there was ever a banking crisis in New England...
PHILADELPHIA HAS SUED seven banks accusing them of costing local governments billions of dollars by colluding to fix the prices on floating-rate bonds issued to finance public works. / BLOOMBERG NEWS FILE PHOTO/JOHN TAGGART

Philadelphia sues seven banks over ‘collusion’ in muni deals

NEW YORK - Philadelphia sued seven banks including JPMorgan Chase & Co. and Bank of America Corp., accusing them of costing local governments billions of...
BANK OF AMERICA Corp. CEO Brian Moynihan predicted another round of consolidation in the U.S. that could lead to the emergence of a new competitor, speaking on a panel at the World Economic Forum in Davos, Switzerland. / BLOOMBERG NEWS FILE PHOTO/JASON ALDEN

BofA’s Moynihan predicts another round of U.S. bank mergers

NEW YORK - Bank of America Corp. CEO Brian Moynihan predicted another round of consolidation in the United States that could lead to the emergence...

Citizens receives 2nd-most CFPB complaints per deposits in U.S. in 2018

PROVIDENCE – Citizens Financial Group Inc. ranked No. 2 on a list of banks with the most 2018 Consumer Financial Protection Bureau complaints related...
BANK OF AMERICA's stock was upgraded to buy by UBS AG, bucking recent trends and recommendations on bank stock investment. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA, Morgan Stanley get rare upgrades in season of pessimism

NEW YORK - Analysts haven’t shown a lot of love to bank stocks lately, but a few calls are swimming against the tide.UBS AG...

Tax reform boosts profits in banking industry

You might say 2018 was the year of Trump in banking. It’s debatable whether President Donald Trump is accomplishing his campaign promise to make...
BANK OF AMERICA reported a net of Net income of $7.2 billion in the third quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

Bank of America’s lending business gets jolt off higher rates

NEW YORK - Bank of America Corp. got another boost from rising interest rates in the third quarter.The firm’s lending business produced the most...

Bank of America sued for allowing $102M Ponzi scheme

NEW YORK - Bank of America Corp. was accused in a lawsuit of providing more than 100 accounts used to perpetrate what the U.S. regulators...
THE FEDERAL RESERVE'S bank stress test assumed tougher economic conditions than 2017 for its "severely adverse scenario." / BLOOMBERG

Goldman, Morgan Stanley say test scores may not curb payouts

NEW YORK - Goldman Sachs Group Inc. and Morgan Stanley are imploring investors not to get spooked.The investment banks had the two lowest capital...
BANK OF AMERICA considering whether to reverse a decision it made two years ago to remove broker commissions from Merrill Lynch retirement accounts. The move comes after the fiduciary rule was struck down in March by a U.S. appeals court. / BLOOMBERG FILE PHOTO/DAVIS TURNER

BofA weighs allowing commissions on Merrill retirement accounts

NEW YORK - Bank of America Corp., faced with a lighter regulatory climate in the Trump era, is considering whether to reverse a decision it...
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