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Bank of America profit falls 15.6% in third quarter

CHARLOTTE, N.C. (AP) – Consumer banking giant Bank of America Corp. says third-quarter profit declined 15.6% from a year earlier, but saw less need...

FDIC: R.I. bank deposits up 20% year over year

PROVIDENCE - Citizens Bank continues to dominate the Rhode Island market for bank deposits, capturing more than half of the $6.26 billion increase in...

A WORK IN PROGRESS: $45M program aims to reemploy Rhode Islanders,...

Scott R. Jensen watched helplessly as the number of out-of-work Rhode Islanders soared when COVID-19 hit in March. For months, unemployment claims climbed higher. And...

Stepping Up: Bank of America, Boys & Girls Clubs team up...

LINCOLN - When the state issued stay-at-home orders, Bank of America quickly emptied out its offices, including its local call center. That meant the sprawling...
GOV. GINA M. RAIMONDO announced plans to allocate $45 million of COVID-19 relief funds to workforce development programs for those left jobless due to the pandemic. PBN FILE PHOTO/DAVE HANSEN

Raimondo announces $45M in workforce development for the unemployed

PROVIDENCE – In an effort to break down traditional barriers to hiring, Gov. Gina M. Raimondo announced on Tuesday an investment of $45 million...
HOT SEAT: Jovita Carranza, administrator of the U.S. Small Business Administration, speaks before a House Small Business Committee hearing on oversight of the U.S. Small Business Administration and Department of Treasury pandemic programs on Capitol Hill in Washington on July 17. / POOL VIA AP FILE/KEVIN DIETSCH

Big companies went to head of line for PPP loans

Ever since the U.S. government launched its emergency lending program for small businesses on April 3, there have been complaints that bigger companies had...

Bank of America’s Q2 results hurt by pandemic like others

NEW YORK (AP) – Bank of America's second quarter profits were sawed in half and the consumer banking giant set aside billions of dollars...
BANK OF AMERICA posted a $4 billion profit in the first quarter of 2020, reflecting a sharp increase in funds set aside for bad loans. AP FILE PHOTO/STEVEN SENNE

BofA posts $4B Q1 profit, builds funds anticipating bad loans

PROVIDENCE - Bank of America Corp. reported a 45% drop in first-quarter earnings driven by a new $3.6 billion reserve build for bad loans...
MAJOR BANKS in the U.S are preparing for a surge in loan defaults due to the COVID-19 pandemic. / AP FILE PHOTO/ STEVEN SENNE

Banks brace for big loan defaults by U.S., global customers

NEW YORK (AP) – The major banks in the United States are anticipating a flood of loan defaults as households and business customers take...
EDYTHE M. DE MARCO is a financial adviser with Merrill Lynch Wealth Management in Providence. / COURTESY BANK OF AMERICA CORP.

Five Questions With: Edythe M. De Marco

Edythe M. De Marco is a financial adviser with Merrill Lynch Wealth Management in Providence and was recently named by Forbes as a 2020...

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