Rhode Island's pension fund earned $117 million in investment gains in January 2017, General Treasurer Seth Magaziner announced at today's meeting of the State Investment Commission.
"As we implement our 'Back to Basics' investment strategy, the pension fund is delivering for Rhode Islanders,"...
Rhode Island General Treasurer Seth Magaziner today hosted representatives from Rhode Island's small business community, local banks, and credit unions to announce "Bank Local" a community deposit program, moving millions of dollars in state deposits to local banks and credit unions to encourage...
Rhode Island General Treasurer Seth Magaziner today will meet with Timothy J. Sloan, CEO of Wells Fargo to demand answers following revelations that thousands of Wells Fargo employees illegally opened accounts for bank customers without their permission, charging additional fees to customers and...
The state's pension fund earned more than $530 million in investment gains in 2016, the most in the past three years, General Treasurer Seth Magaziner told members of the State Investment Commission at their monthly meeting this morning.
The state's 7.4% net return beat its internal benchmark...
Amid growing concerns over what the Consumer Financial Protection Bureau (CFPB) described as "systemically and illegally failing borrowers at every stage of repayment" Navient Corp., the nation's largest student loan servicer, is seeking to block a shareholder proposal - filed by Rhode Island...
The Consumer Financial Protection Bureau (CFPB) today announced that it is suing Navient Corporation –the nation's largest servicer of student loans– for "systematically and illegally failing borrowers at every stage of repayment."
"If these allegations are true, Navient's behavior is as...
Rhode Island General Treasurer Seth Magaziner today announced the launch of the "Rhode Island's ABLE" program, which allows Rhode Islanders living with disabilities and their families to save for disability related expenses without sacrificing their eligibility for federal disability assistance...
The U.S. Department of Labor last week issued Interpretive Bulletin 2016-1 which reinforces the validity and importance of investors' engagement with companies in their portfolio.
"My office is actively engaging with companies in our portfolio to reign in excessive executive pay, promote...
Citing a record number of student loan defaults, General Treasurer Seth Magaziner has filed a shareholder proposal with Navient Corporation (NASDAQ: NAVI) asking the student loan servicer to conduct a comprehensive review of the company's ability to adequately serve customers in, or at risk of,...
General Treasurer Seth Magaziner today sent Treasury Secretary-designate Steven Mnuchin a letter regarding the critical need to maintain protections established in the wake of the 2007-2008 global financial crisis and subsequent Great Recession.
"Rhode Islanders cannot afford another financial...
