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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.

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CFPB issues report on state community reinvestment laws

CFPB Monitor

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Citizens Hits Back at CFPB’s Lawsuit Over Credit Card Dispute Failings

Banking Exchange

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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Charles Potts: Fueling growth through innovation

Independent Banker

Demand for digital solutions continues to accelerate, making innovation an imperative for community banks looking to excel in today’s evolving market. That’s why ICBA makes innovation a priority and provides community banks with the information and tools necessary to grow and succeed in today’s competitive landscape.

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DOJ Settles Redlining Claims in Rhode Island

CFPB Monitor

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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Even cherry-picked office loans are causing problems for banks

American Banker

Washington Trust shares plunged after the Westerly, Rhode Island, company disclosed it booked an office deal in the third quarter, boosting the size of its portfolio while other lenders are pulling back.

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CVS Returns $43M In Provider Relief Funds

PYMNTS

The Rhode Island-based company, which employs more than 10,000 nurses and provides healthcare services at its MinuteClinics , said it did not request the funds, which were meant to reimburse healthcare providers for expenses or lost revenues related to the COVID-19 pandemic. “We We look forward to our continued partnership,” he added.