Rhode Island

Amid shrinking yields, rising delinquencies and repeated warnings from regulators about frothy market conditions, several banks said on earnings calls that they plan to scale back or hold the line on indirect auto lending.

Citizens Financial posted significantly higher profits in the third quarter thanks to a one-time boost to fee income and growth in loans and deposits, though the gains were held down by increases in both expenses and provision for credit losses.

A Morgan Stanley unit was accused by Massachusetts officials of forcing its financial advisers into high-pressure sales contests to cross-sell so-called securities-based loans and other products to clients.

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.

Citizens Financial Group in Providence, R.I., has hired Randall Black as chief accounting officer and controller. He will start at the company on April 18, succeeding Ronald Ohsberg.

Citizens Financial Group will build a new office complex in Johnston, R.I., and consolidate about 3,200 workers at the location.

Wells Fargo and a Rhode Island government agency were sued by a U.S. regulator for allegedly misleading investors about how much money a company led by former Boston Red Sox pitcher Curt Schilling needed to develop a video game.

Citizens Financial Group in Providence, R.I., plans to repurchase $125 million in subordinated notes to improve its efficiency and capital structure.

Nancy Shanik, who had been Citizens' chief risk officer since 2010, will retire on May 31. Malcolm Griggs will succeed her on April 1.

Eastern Bank has hired the Massachusetts market president of Citizens Bank, Quincy Miller, to be its chief banking officer.

Citizens Financial Group in Providence, R.I., has hired John Bahnken as president of the wealth management unit of its bank. Bahnken had been a senior executive vice president of the wealth management group at BNP Paribas' Bank of the West.

Citizens Financial Group in Providence, R.I., has been picked by Apple to provide financing to customers who want to upgrade to a newer model iPhone.

Washington Trust has significantly increased its deposit market share in Rhode Island in the past five years, without buying any banks, and is casting its eye across the state's borders. We talk growth strategy with the company's CEO and its COO.

Citizens Financial Group in Providence, R.I., showed strong consumer loan growth in the second quarter but fell slightly short of analysts' quarterly estimates as its margins declined.

Citizens Financial Group in Providence, R.I., has named two new state presidents for Citizens Bank in Connecticut and Massachusetts.

Citizens Financial in Providence, R.I., has signed a five-year agreement to outsource some of its IT infrastructure to IBM.

Citizens Financial Group in Providence, R.I., reported a 26% increase in quarterly profit thanks to robust lending and lower costs for bad loans.

Citizens Financial Group has hired Eric Aboaf as chief financial officer, as John Fawcett said he will retire from that position next month.

The Federal Housing Administration's new foreclosure relief options for nonborrowing spouses of reverse mortgage customers will increase loan servicers' costs, and some question how many consumers they will actually help.

Citizens Financial Group in Providence, R.I., posted higher quarterly profits in its first full quarter since going public.