Washington Trust Bank

Treasurer reaches understanding with Washington Trust on inclusivity in lending

BY: - October 4, 2023

PROVIDENCE — The Washington Trust Company has pledged to diversify its board of directors and executives as part of an agreement reached with Rhode Island General Treasurer James Diossa. The Westerly-based bank also agreed to support the state’s CollegeBound Saver 529 Plan and to form a “diverse and inclusive” community advisory board. These are among […]

Treasurer: State relationship with Washington Trust ‘under evaluation’

BY: - September 28, 2023

PROVIDENCE — The Washington Trust Company could potentially lose a significant customer after Rhode Island General Treasurer James Diossa announced Thursday his office is re-evaluating the state’s nearly $190 million relationship with the Westerly-based financial institution.  Diossa’s announcement comes one day after Washington Trust agreed to a $9 million settlement with the federal government over […]

Bank to pay $9 million in redlining settlement

BY: - September 27, 2023

PROVIDENCE — The nation’s oldest community bank will pay over $9 million to settle a federal lawsuit alleging it discriminated against Black and Hispanic borrowers in Rhode Island, the U.S. Justice Department (DOJ) announced Wednesday. Washington Trust was accused of redlining, the name for the practice of avoiding providing credit services to people because of […]