X nabs Rhode Island, Mississippi money licenses
Payments Dive
SEPTEMBER 7, 2023
The new licenses are aimed at advancing Elon Musk's campaign to expand the social media company formerly known as Twitter into the payments business.
Rhode Island Related Topics 
DOJ Settles Redlining Claims in Rhode Island
CFPB Monitor
OCTOBER 24, 2023
The Department of Justice (DOJ) announced a settlement agreement with Washington Trust Company, of Westerly (WTC) to resolve claims that WTC redlined majority Black and Hispanic neighborhoods in Rhode Island. for its peer lenders, and on average 46.5% for its peer lenders, and on average 46.5%
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Google, Amazon Tech Help States Handle Jobless Claim Boom
PYMNTS
MAY 12, 2020
Google and Amazon Web Services are assisting Rhode Island, Kansas, Illinois and New York in processing the unprecedented number of unemployment claims prompted by the coronavirus crisis, The Wall Street Journal (WSJ) reported. Help is on the way for beleaguered states facing a record number of jobless claims.
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Rhode Island Eyes Capping Credit Card Interest Rates
PYMNTS
APRIL 9, 2019
In Rhode Island, there seems to be a groundswell to limit the interest rates that can be charged on card balances, at least in that state. The $870 billion aforementioned tally, the Federal Reserve estimated earlier this month, marks the first time credit card balances reached 2008 nominal peaks.
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Rhode Island bank agrees to pay $9m over discriminatory lending allegations
TheGuardian
SEPTEMBER 27, 2023
Since the company was founded in 1800 in Rhode Island, the bank has never offered its home loan services at a branch location in a majority-Black or Latino neighborhood throughout the state, including in the state capital of Providence, where the vast majority of the state’s Black and Latino population live.
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Bitcoin Daily: Rhode Island’s Blockchain Act Aims For Crypto Rules Too; Rapper Akon Details Crypto Plans
PYMNTS
MARCH 15, 2020
In other digital currency news, the state of Rhode Island introduced a bill last Wednesday (March 11) to create a blockchain-friendly business environment to attract digital innovators. “If David Place (R-47) told Cointelegraph.
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Waze Introduces Contactless Payments At ExxonMobil, Shell Stations
PYMNTS
AUGUST 13, 2020
Chairman David Cicilline (D-Rhode Island) asked Pichai if Google has evolved from a turnstile to the rest of the web to a walled garden that increasingly keeps users within its sites. Pichai also faced tough questions from U.S.
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Rhode Island federal court nixes stand-alone class action waiver
CFPB Monitor
OCTOBER 26, 2023
A Rhode Island federal district court recently refused to enforce a stand-alone class action waiver in the consumer plaintiff’s automobile lease agreement on the ground that it violates state public policy. The court in Metcalfe v. Grieco Hyundai LLC held that the class action waiver contravened Section 6-13.1-5.2
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Will COVID And Fraud Finally Kill The Paper Check?
PYMNTS
AUGUST 4, 2020
Consider the roughly 200 Rhode Islanders who recently received tax refund checks signed by Mickey Mouse and Walt Disney. Their signatures took the place of Rhode Island General Treasurer Seth Magaziner and State Controller Peter Keenan ’s John Hancocks, which should have been on the checks.
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FTC Files Case Against RI Firm Allegedly Posing As SBA Lender; Company Claims Error
PYMNTS
APRIL 17, 2020
A Rhode Island company is facing allegations of falsely claiming to be an authorized lender for the Small Business Association’s (SBA) Paycheck Protection Program (PPP). District Court for the District of Rhode Island, alleged that the company, also doing business as SBA Loan Program and SBA Loan Program.com, and its owner John C.
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Citizens Access Targeting ‘Optimizers’ to Grow Deposits Beyond the Bank’s Footprint
Bank Innovation
MARCH 5, 2019
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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25 Million Mobile Users, Only 2 Million on Bank of America’s Erica
Bank Innovation
AUGUST 30, 2018
Keep in mind that we started the rollout earlier this year with Rhode Island (which has a relatively small population) and completed in all markets in June," Betty […]. Bank of America might have 25.3 million active mobile users, but only two million of those users are using the bank's virtual assistant Erica.
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Rhode Island Gives London's WorldRemit a Key Market in U.S.
Payments Source
OCTOBER 17, 2016
states with the announcement that it’s added a proprietary license in Rhode Island. WorldRemit inched closer to its goal of obtaining its own money transmitter license in all available U.S.
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Last Labor Report Before Election Shows Drop In US Jobless Claims
PYMNTS
OCTOBER 29, 2020
During the week ending Oct. Unemployment has been high since the pandemic began. Since the week ending March 20, more than 55 million individuals have filed for new unemployment insurance claims.
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Cannabis Companies Would Be Eligible For COVID-19 Relief Under Bill
PYMNTS
APRIL 24, 2020
This is an election year and several states, including New Jersey, Arizona, South Dakota, New York, Connecticut and Rhode Island, have bills about cannabis legalization on the ballot or might have those bills. That number has advocates for the drug optimistic about its future prospects of legality.
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DOJ, State AGs To Meet On Antitrust Suit Against Google
PYMNTS
SEPTEMBER 22, 2020
David Cicilline (D-Rhode Island) ended the hearing by saying the companies “have monopoly power.” Facebook’s Mark Zuckerberg, Sundar Pichai of Google , Apple ’s Tim Cook and Jeff Bezos from Amazon made their case that they face competition and are not violating the nation’s antitrust laws.
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Rhode Island authorities to roll out new blockchain bill
The Paypers
MARCH 16, 2020
Rhode Island’s representatives have introduced a new bill aimed at creating regulatory clarity around Bitcoin (BTC) related businesses as well as blockchain innovators.
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Rebranded Citizens Pay Expands POS Merchant Services
PYMNTS
JANUARY 11, 2021
Providence, Rhode Island-based Citizens Financial Group is advancing the reach of its national point-of-sale (POS) offering for merchants, renaming it Citizens Pay, the company announced Monday (Jan.
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American Airlines Offers Preflight COVID Tests For US Destinations
PYMNTS
DECEMBER 8, 2020
States and territories that currently have COVID-19 travel restrictions include Alaska, Connecticut, District of Columbia, Chicago, Hawaii, Maine, Maryland, Massachusetts, New Hampshire, New York, Pennsylvania, Puerto Rico, Rhode Island and Vermont.
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Bitcoin Daily: Argentina's Crypto Exchanges See Record Growth In 2020; JD.com Sees 20,000 Digital Yuan Transactions In 24 Hours
PYMNTS
DECEMBER 14, 2020
The expansion includes 10 new states: Georgia, Hawaii, Nevada, New Mexico, Ohio, Oregon, Maryland, West Virginia, Delaware and Rhode Island, according to the release. Meanwhile, Coinme , crypto exchange, and Coinstar have announced in a press release that their number of bitcoin-enabled kiosks nationwide in the U.S.
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Another 6.6M Americans File For Unemployment As Layoffs Continue
PYMNTS
APRIL 9, 2020
The largest decreases were in Nevada, down 20,356; Rhode Island, down 8,047; and Minnesota, 6,678. . The biggest increases for the week ending March 28 were in California, up 871,992; New York, up 286,596; Michigan, up 176,329; Florida, up 154,171; Georgia, up 121,680; Texas, up 120,759; and New Jersey, up 90,438.
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Using Debit Cards To Bridge The Stimulus Accessibility Gap
PYMNTS
JULY 28, 2020
Cloutier and Jones detailed how prepaid debit cards are enabling the program to offer undocumented families much-needed support without putting recipients at risk.
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Retail Foot Traffic Dips As COVID Cases Rise
PYMNTS
JULY 6, 2020
According to ShopperTrek data, the biggest growth in retail traffic has been seen in New Jersey, Maryland, Massachusetts, Rhode Island and New York, CNBC reported. Eleven of those states have a requirement that people wear masks in public. The other 37, plus Washington D.C.,
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Pawtucket Credit Union finds new leadership close to home
American Banker
MARCH 18, 2021
The Rhode Island institution's next CEO has led lending operations at nearby Navigant Credit Union since 2017. ]].
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Google Play Policy Changes Will Extend Gambling Apps Across More Countries
PYMNTS
JANUARY 29, 2021
Sports betting is only allowed in Colorado, Illinois, Indiana, Iowa, Nevada, New Hampshire, New Jersey, Pennsylvania, Rhode Island, Tennessee and West Virginia. . Currently in the U.S., online casino games are only allowed in Delaware, Nevada, New Jersey and Pennsylvania.
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DOJ Moving Forward On ‘Major Priority’ Big Tech Antitrust Probe
PYMNTS
AUGUST 13, 2020
PYMNTS reported that Rhode Island Congressman David Cicilline ended the hearing by saying they all “have monopoly power.” The CEOs of all four of those companies appeared together for the first time in July, and the outcome was not particularly friendly toward the companies.
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Citizens Bank reduced its workforce by 3.5% in the fourth quarter
American Banker
JANUARY 17, 2024
After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.
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COVID-19 Makes College Fees Murkier
PYMNTS
AUGUST 20, 2020
For example, Brown University in Providence, Rhode Island said it has reduced school fees by more than $600 for the fall semester. For college students, the subject of fees — and how to pay for them — is notoriously thorny.
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Finastra onboards 25 financial institutions onto cloud-based core banking solution
BankInovation
AUGUST 23, 2021
The London-based Finastra’s new client institutions include a mix of banks and credit unions such as the Rhode Island-based Peoples Credit Union, First National Bank of Manchester in Kentucky, and Indiana-based Fowler State Bank. […].
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For One Restaurant, Life Before (And During) COVID-19
PYMNTS
MARCH 31, 2020
In an interview with Karen Webster, Lisa Kuscu, co-owner (and emergency room nurse) with her husband Mustafa of Providence, Rhode Island restaurant Noodles 102 , detailed life before and during COVID-19. As of March 19, the restaurant has been open for takeout only, and during significantly reduced hours.
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Amazon, Google, Facebook, Apple CEOs To Face Congress
PYMNTS
JULY 2, 2020
David Cicilline (D-Rhode Island), chairman of the House Antitrust Subcommittee, has asked each of the company’s executives to testify before completing its investigation and crafting reforms that would regulate the digital market. The panel has pressed for tougher antitrust rules and enforcement.
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Chinese Hackers Target Navy Contractors To Steal Military Secrets
PYMNTS
DECEMBER 14, 2018
In June, hackers stole secret plans to a supersonic missile for submarines, targeting an unnamed company that had a contract with the Navy in Rhode Island. Chinese hackers go after contractors because often, they don’t have the resources needed to secure their networks.
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Citizens previews the launch of a nationwide private bank
American Banker
SEPTEMBER 11, 2023
After taking incremental steps to bolster its wealth management business, the Rhode Island bank is preparing to roll out a broader strategy focused on high net-worth clients.
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Citizens reports fast progress in building its private bank
American Banker
APRIL 17, 2024
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
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78 Millbury National Bank Offers Kasasa Cash and Saver in the Northeast
BankDeals
AUGUST 6, 2020
Millbury National Bank's Kasasa Cash and Kasasa Saver are available in Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.
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Some Big Facebook Investors Call For Zuckerberg’s Ouster
PYMNTS
OCTOBER 17, 2018
Rhode Island, Illinois and Pennsylvania state treasurers are also joining the initiative. The calls on the part of investors come on the heels of a disclosure by Facebook in late September that roughly 50 million of its users had their data exposed through an attack on its network.
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DOJ announces $9M settlement with Washington Trust for redlining in Rhode Island
American Banker
SEPTEMBER 27, 2023
The Department of Justice reached a $9 million settlement Wednesday with Westerly, R.I.-based based Washington Trust over race-based lending discrimination and redlining in the state, saying the bank denied lending services to Black and Hispanic neighborhoods from 2016 to 2021.
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Big Tech Antitrust Hearing Rescheduled For July 29
PYMNTS
JULY 26, 2020
In a joint statement three week ago announcing the hearing, House Judiciary Committee Chairman Jerrold Nadler of New York and Antitrust Subcommittee Chairman David Cicilline of Rhode Island said: “Since last June, the Subcommittee has been investigating the dominance of a small number of digital platforms and the adequacy of existing antitrust laws (..)
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Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges
Abrigo
MAY 15, 2020
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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More States Mull Interest Rate Preemption and “Anti-Evasion” Legislation
CFPB Monitor
MARCH 4, 2024
Rhode Island, Minnesota, and Nevada have joined the list of jurisdictions considering proposals to legislatively opt out of federal interest rate preemption established under the federal Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA).
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Citizens Hits Back at CFPB’s Lawsuit Over Credit Card Dispute Failings
Banking Exchange
FEBRUARY 3, 2020
The Rhode Island-based bank says legal action from the consumer regulator is “unwarranted” and ignores previous remedial work Consumer Credit Compliance Customers Cards CFPB Compliance/Regulatory Consumer Compliance Community Banking Feature3 Feature.
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OCC outlines risk plan as Northeastern loan growth doubles
Abrigo
OCTOBER 29, 2014
The OCC on Oct. While the target audience of the OCC release is somewhat narrow in scope (banks regulated by the OCC in the Northeastern District), other banks may benefit from reflecting upon their own processes and results to ensure they are sound in areas which may soon receive additional attention.
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236 The Acela Primary Underway In States Where Businesses Are Struggling
PYMNTS
APRIL 26, 2016
Voting in the five-state run today are Connecticut, Delaware, Maryland, Pennsylvania and Rhode Island, and the picture for small and local businesses isn’t fully inspiring. Rhode Island. The key drag here seems to be employment growth, where Rhode Island came in at 1.3 percent growth. percent.
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Unemployment Filings Top 3.1M Across US
PYMNTS
MAY 7, 2020
The highest insured unemployment rates in the week ending April 18 were in Vermont (25.2), West Virginia (21.9), Michigan (21.7), Rhode Island (20.4), Nevada (19.9), Connecticut (18.7), Puerto Rico (17.9), Georgia (17.3), New York (17.2) Seven states reported there were 52,305 claims for Pandemic Emergency Unemployment Compensation.
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