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Bank of America commits to supporting ‘low-carbon’ businesses

PROVIDENCE – Bank of America Corp. is committing $300 billion by 2030 to support “low-carbon” businesses through lending, investing, raising capital, advisory services and...
BANK OF AMERICA CORP. plans to raise its minimum wage to $20 an hour over two years. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA to increase minimum wage to $20 an hour over two...

NEW YORK - Bank of America Corp., the second-biggest U.S. lender, plans to raise its minimum wage to $20 an hour over two years.The...
SHOWING UP: Rhode Island Black Business Association President Lisa Ranglin meets with members at the office. From left: Retired R.I. State Police Lt. John P. A’Vant; Ranglin; Clarence R. Sneed Jr., CEO of S&S Trucking; and Donna M. Sams, Community College of Rhode Island campus coordinator, Providence and Lincoln.
 / PBN PHOTO/MICHAEL SALERNO

Banker battles disparity in wages, opportunity

For Lisa Ranglin – risk and compliance manager for Providence-based Citizens Bank – it’s been a busy professional track.Her executive experience includes more than...
BANK OF AMERICA will drop Merrill Lynch from its investment-bank brand. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA drops Merrill Lynch from its investment banking brand

NEW YORK - Bank of America Corp. will drop Merrill Lynch from its investment-bank brand, while keeping the name Merrill for its wealth management unit.The...
POSITIVE PICTURE: PBN Economic Trends Summit keynote speaker Osborne Jackson, senior economist with the Federal Reserve Bank of Boston, tells attendees employment, labor-market participation, housing prices and consumer confidence are in generally healthy condition in Rhode Island. 
 / PBN PHOTO/RUPERT WHITELEY

Summit attendees encouraged by healthy condition of R.I., N.E. economies

Osborne Jackson, senior economist with the Federal Reserve Bank of Boston, offered a generally positive image of Rhode Island’s and New England’s current economic...
CITIZENS BANK N.A. reported net income of $1.39 billion as of Dec. 31, 2018, according to data released by the Federal Deposit Insurance Corp. on Thursday. / PBN FILE PHOTO/ELI SHERMAN

FDIC: Local banks see profit grow 38% in 2018

PROVIDENCE – More than 20 banks with branches located in Rhode Island and Bristol County, Mass., reported year-over-year increases in net income at the...
BANK OF AMERICA analysts predicted that a real deal with China on tariffs and full access to China markets by U.S. firms could cause a S&P 500 rally of 5-10 percent. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA says a `real’ trade deal could vault S&P 500 to...

NEW YORK - With stocks rallying this year amid signs of nascent progress in China-United States trade talks, investors may be inclined to conclude...
BRIAN MOYNIHAN received $25 million in stock grants and a $1.5 million salary in 2018. / BLOOMBERG NEWS/SIMON DAWSON

BofA boosts Moynihan’s pay to record $26.5M for last year

NEW YORK - Bank of America Corp. awarded CEO Brian Moynihan a record $26.5 million for 2018, a 15 percent increase from a year earlier.Moynihan,...
DESPITE $21 BILLION in savings due to the Republican tax overhaul at the 23 U.S. banks the Federal Reserve deems most important to the nation’s economy, firms still cut thousands of jobs and saw their lending growth slow. / BLOOMBERG NEWS FILE PHOTO/CHRISTOPHER DILTS

Banks’ $21B tax windfall doesn’t stop their job cuts

NEW YORK - Major United States banks shaved about $21 billion from their tax bills last year - almost double the IRS’s annual budget...
BANK OF AMERICA reported a net income of $7.3 billion. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA’s retail bankers save day for beleaguered bond traders

NEW YORK - Bank of America Corp.’s consumer bankers saved the day for their bond-trading colleagues.The company’s retail-banking business saw a 5 percent jump...
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