Tag: Banking
Banking ‘reforms’ have widened the wealth gap
Harsh banking sector regulations imposed a decade ago were touted as a means to both make the system safer and to “democratize capital” by...
BankRI parent sees Q2 profit narrow to $21.9M
PROVIDENCE – Boston-based Brookline Bancorp Inc., parent company of Bank Rhode Island, reported Wednesday a second-quarter net income of $21.9 million, marking a 13%...
Webster Financial Corp. posts $235M Q2 profit, up 28.9%
STAMFORD, Conn. – Webster Financial Corp. on Thursday reported a $235 million second-quarter net income, an increase of $52.7 million – or 28.9% –...
Bank of America net income jumps 19%, extending the rally for...
NEW YORK (AP) – Bank of America Corp. said its profits grew 19% in its most recent quarter, the latest of the big banks...
Bank ‘stress tests’ by Fed may have overlooked weaknesses in system
The 23 largest banks in the U.S. – including Providence-based Citizens Financial Group Inc. – recently passed the Federal Reserve’s “stress test,” but some...
BofA to pay more than $100M for doubling fees, opening accounts...
Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without...
Citizens Financial Group announces preliminary Stress Capital Buffer
PROVIDENCE – The Federal Reserve’s 2023 preliminary stress test of Citizens Financial Group Inc., found the that the banking institution’s Stress Capital Buffer stands...
Some banks falter, but not special-needs trusts
Recent bank failures have caused many individuals and organizations to worry about the security of their funds held in banks. Many retirees and others...
Wells Fargo agrees to pay $1B to settle shareholders’ class-action lawsuit
WASHINGTON (AP) – Wells Fargo has agreed to a pay $1 billion to settle a lawsuit filed by its shareholders who alleged the bank...
FDIC recommends overhauling U.S. insurance deposit system
NEW YORK (AP) – The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring up to $250,000 in bank...
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