article thumbnail

X nabs Rhode Island, Mississippi money licenses

Payments Dive

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.

article thumbnail

Rhode Island federal court nixes stand-alone class action waiver

CFPB Monitor

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

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rhode Island bank agrees to pay $9m over discriminatory lending allegations

TheGuardian

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.

article thumbnail

Rhode Island Eyes Capping Credit Card Interest Rates

PYMNTS

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.

article thumbnail

Google, Amazon Tech Help States Handle Jobless Claim Boom

PYMNTS

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.

article thumbnail

More States Mull Interest Rate Preemption and “Anti-Evasion” Legislation

CFPB Monitor

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).

article thumbnail

Rhode Island authorities to roll out new blockchain bill

The Paypers

Rhode Island’s representatives have introduced a new bill aimed at creating regulatory clarity around Bitcoin (BTC) related businesses as well as blockchain innovators.