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FDIC statistics released Thursday show that Rhode Island banks and their counterparts nationwide are having a stellar year, boosting collective profits by 25 percent. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

R.I. banks having a stellar year, FDIC report shows

PROVIDENCE – Bolstered by a large cut in the corporate tax rate, United States banks collectively are on a financial roll, and the nine...
THE SEC has adopted amendments that obligates securities dealers to ensure that municipalities report updated financial information and material events to bondholders. The amendments will force the disclosure of loans incurred by municipalities, loan defaults and changes to financial covenants that affect bondholders within 10 business days. /BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

SEC forces cities to reveal Wall Street loans with holdings surging

NEW YORK - The U.S. Securities and Exchange Commission moved to require states and local governments to disclose bank loans and privately placed debt, seeking...
THE FEDERAL RESERVE Board has introduced a proposal to scale back several elements of the Volcker Rule. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Fed releases proposal for easing Volcker Rule trading limits

NEW YORK - Wall Street’s long campaign to chip away at the toughest trading restriction imposed on banks after the financial crisis is finally...
CITIZENS BANK reported net income of $312.8 million in the first quarter of 2018, a 16.7 percent increase over the same 2017 period. / BLOOMBERG FILE PHOTO/KELVIN MA

FDIC: Banks in region saw increases in 1Q earnings

PROVIDENCE – Twenty-five with branches in Rhode Island and Bristol County, Mass., saw year-over-year net income increases in the first quarter of 2018, while...
CITIZENS FINANCIAL GROUP announced that it will launch Citizens Access, a direct-to-consumer digital platform in the third quarter of 2018, offering FDIC-insured deposit products that will be separate from Citizens Bank. / BLOOMBERG FILE PHOTO/TY WRIGHT

Citizens to launch online-only digital deposit platform Citizens Access

PROVIDENCE – Citizens Financial Group Inc. will launch a nationwide direct-to-consumer digital platform called Citizens Access, an online-only platform offering Federal Deposit Insurance Corp.-insured...
HARBORONE BANK AND North Easton Savings Bank received positive grades from the Federal Deposit Insurance Corp. during recent evaluations for compliance with the Community Reinvestment Act.

HarborOne, North Easton Savings Bank score well on CRA compliance

PROVIDENCE – Two banks operating in southeastern Massachusetts received positive grades from the Federal Deposit Insurance Corp. during recent evaluations for compliance with the...
BANKNEWPORT has acquired Offshore Financial Corp. to operate as its marine-financing division./COURTESY OF BANKNEWPORT

BankNewport acquires Offshore Financial

NEWPORT – BankNewport has acquired a New Jersey financial company to operate as its marine-lending division.The Newport-based bank on Monday announced the purchase of...
THE FEDERAL DEPOSIT Insurance Corp. is using America Saves Week, spanning Feb. 26 to March 3, as an opportunity to encourage people to develop or review their financial goals.

FDIC: America Saves Week opportunity to build financial goals

PROVIDENCE – The Federal Deposit Insurance Corp. this week is encouraging people to recognize America Saves Week to develop or review their financial goals.The...
CITIZENS BANK MAINTAINED its status as the bank with the largest percentage of deposits in the region, according to the latest FDIC data. /PBN FILE PHOTO/NICOLE DOTZENROD

Citizens Bank grows share of deposits in the region

PROVIDENCE –Citizens Bank N.A. cemented its position as the bank in the region with the highest market share of deposits on June 30, according...
THE FEDERAL DEPOSIT Insurance Corp. and the Office of the Comptroller of the Currency recently issued a joint proposal that would reduce the standard settlement cycle for securities purchased or sold by national banks, federal savings associations and FDIC-backed institutions to two days from the current three-day cycle.

Federal agencies propose shortening settlement cycle for securities sales

WASHINGTON – Federal agencies last week proposed a new rule to shorten the settlement cycle for securities sales, which could save broker-dealers and financial...
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