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FTC Files Case Against RI Firm Allegedly Posing As SBA Lender; Company Claims Error

PYMNTS

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). Ponte, are marketing themselves to small businesses as an approved lender under PPP. The PPP program is part of the $2.3

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Citizens awaits thaw in private equity-backed M&A

American Banker

Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.

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In Europe, Single Data Market Looms?

PYMNTS

The European Union is examining the creation of a single data market that would reportedly challenge tech firms such as Google and Facebook, as Reuters reported. The creation of a “single European data space, a genuine single market for data” would include new rules governing cross-border use and data interoperability, among other tenets.

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DOJ, State AGs To Meet On Antitrust Suit Against Google

PYMNTS

Last year, Rohit Chopra , a Federal Trade Commission official, said fining tech companies will not make a difference. and other tech companies have been facing backlash from lawmakers and regulators around the globe. David Cicilline (D-Rhode Island) ended the hearing by saying the companies “have monopoly power.”

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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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DOJ Moving Forward On ‘Major Priority’ Big Tech Antitrust Probe

PYMNTS

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. PYMNTS reported that Rhode Island Congressman David Cicilline ended the hearing by saying they all “have monopoly power.”

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Amazon, Google, Facebook, Apple CEOs To Face Congress

PYMNTS

The CEOs of the world’s four biggest technology companies will testify later this month before the House Judiciary Committee as lawmakers investigate competition in the tech industry, Reuters reported. The panel has pressed for tougher antitrust rules and enforcement.

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