Washington Trust Co.

Washington Trust reports 40% drop in profits after DOJ settlement

BY: - October 26, 2023

A month after The Washington Trust Co. agreed to a $9 million settlement with the U.S. Department of Justice over alleged discrimination against would-be borrowers in Black and Hispanic neighborhoods, its holding company saw profit margins plummet. The $11.2 million third-quarter earnings mark a 40% decline compared with the third quarter of 2022, according to […]