State Government Press Releases

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01/25/2017
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...
01/23/2017
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...
01/18/2017
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...
01/11/2017
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...
01/05/2017
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...
12/20/2016
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,...
11/30/2016
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...
11/28/2016
State Treasurer Seth Magaziner today announced that the Rhode Island pension fund will be joining concerned shareholders of energy companies ConocoPhillips (NYSE: COP), Exxon Mobile (NYSE: XOM), Chevron (NYSE: CVX) and Devon Energy (NYSE: DVN) in co-filing a proposal requiring the corporations to...
11/17/2016
Rhode Island has joined a group of institutional investors filing a shareholder proposal demanding Wells Fargo (NYSE:WFC) address recent revelations of widespread consumer fraud and take steps to protect customers and shareholders from illegal predatory banking going forward, General Treasurer...
10/27/2016
The turnaround of Rhode Island's 529 college savings program under General Treasurer Seth Magaziner was recognized this week when Morningstar awarded the state's CollegeBound Saver and CollegeBound 529 plans Silver and Bronze medals, respectively in its 2016 national ratings. "The state...