Tag: Federal Deposit Insurance Corp.
HarborOne Bank announces layoffs amid plans for new Boston branches
PROVIDENCE – HarborOne Bank will lay off 10% of its 450-person workforce in Massachusetts and Rhode Island, according to a news release.
The decision to...
What bank customers need to know: COVID-19 edition
PROVIDENCE – From reducing branch hours to deferring loan payments, banks across the state and the country are changing practices and policies in response...
FDIC: R.I. banks report increased revenue amid national decline
PROVIDENCE – Rhode Island banks and savings institutions bucked the national trend in 2019, reporting an increase in year-end revenue at a time when...
JPMorgan Chase recognized for financial literacy programs
PROVIDENCE – JPMorgan Chase & Co., which recently opened two Rhode Island Chase Bank branches with plans for five more this year, was recognized...
Banks expected to continue feeling squeeze in lending margins
For Marc Perlman, principal owner and CEO of Ocean State Job Lot, the Federal Reserve’s outlook for 2020 is the best business fortune he...
Feds to raise ceiling for home-sale appraisals
PROVIDENCE – For the first time in a quarter century, federal banking regulators are raising the minimal price for requiring appraisals on home sales.
Beginning...
Report: BofA drops to No. 2 in R.I. market share after...
PROVIDENCE – While other banks’ in-state deposits have remained relatively stable, Bank of America Corp.’s total Rhode Island deposits dropped by $5.4 billion as...
FDIC: R.I. banking assets increase 29% Y/Y in Q2
PROVIDENCE – Rhode Island banking institution assets increased 28.9% year over year to $174.1 billion in the second quarter of 2019, according to the...
East Greenwich bank agrees to revamp its management practices
EAST GREENWICH – Federal and state regulators and Independence Bank of East Greenwich have reached a consent agreement in which the bank must ensure...
Volcker rule trading revamp approved in win for Wall Street
WASHINGTON – Wall Street watchdogs handpicked by President Donald Trump eased the Volcker Rule’s controversial ban on banks making speculative investments, wrapping up a...
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