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Citizens Access Targeting ‘Optimizers’ to Grow Deposits Beyond the Bank’s Footprint

Bank Innovation

Citizens Access, the digital-only arm of Rhode Island-based Citizens Financial Group, has grown to about $4 billion in deposits, mostly from new customers outside the bank's traditional footprint, since its launch in July 2018. If you build it, the optimizers will come.

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OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

Operational Risk: Lastly, the OCC mentioned an increase in operational risk, and its intent to focus on: • Significant growth areas, new products, new or expanded services and changes in strategic direction. The OCC on Oct. It measures 1-5, with 1 being the best score an institution can receive and 5 the worst).

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Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges

Abrigo

The Department of Justice (DOJ) recently charged two businessmen in Rhode Island with fraudulently seeking PPP loans, the first in the country linked to the loan program. In the case of the two men in Rhode Island, there were several red flags pointing to fraud. Industry officials warn it won’t be the last.

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Restaurant Business Serves Up Mixed Plate For 2020

PYMNTS

That growth will be driven by a generally healthy consumer spend and tight labor market. To be successful, restaurant operators will look to strike the perfect formula of on- and off-premises for their business as consumers strive for convenience, but continue to look to the social escape that restaurants provide.

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Santander Gets Hit With Fine Due To Overdraft Practices

PYMNTS

According to the CFPB, the telemarketing vendor Santander contracted with deceptively marketed the overdraft service to consumers and signed them up without getting their consent. We will put a stop to any such unlawful practices that harm consumers.”.

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House Hearing Signals Fireworks On Big Tech Antitrust Issues

PYMNTS

David Cicilline of Rhode Island, who serves as subcommittee chairman. Operators of digital platforms, according to other recommendations, would also be required to adhere to codes of conduct, and to make pricing a bit more transparent.

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Bitcoin Daily: Coincheck’s Investors Take Their Money, Iceland’s Big Mining Electricity Bill

PYMNTS

Until the market matures, cryptocurrency price manipulation is “unavoidable,” according to NEM President Lon Wong. “You see it in mainstream markets as well. Coinsource , the world’s largest bitcoin ATM network, has rolled out 10 new machines in Rhode Island, New Hampshire and Massachusetts.

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