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 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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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). The FTC said the company received a cease and desist letter from the SBA on April 10. The PPP program is part of the $2.3
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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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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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Cannabis Companies Would Be Eligible For COVID-19 Relief Under Bill
PYMNTS
APRIL 24, 2020
Earl Blumenauer (D-OR) and Ed Perlmutter (D-CO) introduced legislation this week to ensure that that happens, allowing cannabis companies to be eligible for the PPP, along with Economic Injury Disaster Loans and other emergency loan advances. billion in state and local revenues. billion in state and local revenues.
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Citizens awaits thaw in private equity-backed M&A
American Banker
DECEMBER 7, 2023
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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Citizens Financial hires two former JPMorgan execs to lead private bank
American Banker
FEBRUARY 8, 2024
The Providence, Rhode Island, company has recruited a head of wealth management advisors and a head of private wealth managers as part of a new strategy to reel in high-net worth clients.
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Even cherry-picked office loans are causing problems for banks
American Banker
OCTOBER 27, 2023
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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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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DOJ, State AGs To Meet On Antitrust Suit Against Google
PYMNTS
SEPTEMBER 22, 2020
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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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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DOJ Moving Forward On ‘Major Priority’ Big Tech Antitrust Probe
PYMNTS
AUGUST 13, 2020
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.” Additionally, the U.S.
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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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Retail Foot Traffic Dips As COVID Cases Rise
PYMNTS
JULY 6, 2020
The decline comes alongside companies like Apple ‘s decisions to re-close stores. 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. For the week ending June 27, traffic was down 35.7
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US Rental Marketplace Zumper Closes On $60M Series D Round
PYMNTS
MARCH 10, 2020
Mathias Schilling, co-founder of e.ventures, called Zumper’s progress “striking” and said the company was poised to offer “great value” for both renters and landlords of multi-family properties. Zumper CEO and Co-Founder Anthemos Georgiades said the company was formed in order to build the first online resource for apartment rentals.
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CFPB’s unexpected showdown with Citizens
American Banker
FEBRUARY 9, 2020
The agency's lawsuit against the Rhode Island company — the first involving a bank under Director Kathy Kraninger — has challenged assumptions about its approach to enforcement.
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Amazon, Google, Facebook, Apple CEOs To Face Congress
PYMNTS
JULY 2, 2020
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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Smaller branches, more versatile staff: Citizens Bank's new normal
American Banker
MAY 22, 2020
The Rhode Island company's post-pandemic plan also includes returning some overseas call center functions to the U.S. and bringing its office staff back in phases, says CEO Bruce Van Saun.
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CVS Returns $43M In Provider Relief Funds
PYMNTS
MAY 20, 2020
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.
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Big Tech Antitrust Hearing Rescheduled For July 29
PYMNTS
JULY 26, 2020
Congress could release a report on alleged antitrust violations by major technology companies by the end of the summer. Facebook will probably talk about its rivals when it comes to advertising, like Google and Amazon, and when it comes to social media, like Twitter and TikTok. It is unclear what arguments Google will make.
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Judge: Part Of Shareholder Lawsuit Against Apple Can Proceed
PYMNTS
JUNE 4, 2020
The complaint is led by the Employees’ Retirement System of the State of Rhode Island. The issue started in June 2019, when Cook unexpectedly reduced the company’s quarterly revenue forecast by $9 billion, partly because of the trade dispute between the U.S.
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House Financial Services Committee to hold March 4 hearing on auto insurance
CFPB Monitor
MARCH 3, 2020
Elizabeth Kelleher Dwyer, Superintendent of Insurance, the State of Rhode Island, on behalf of the National Association of Insurance Commissioners. Erin Collins, Vice President- State Affairs, National Association of Mutual Insurance Companies. Eric Poe, CPA and Chief Operating Office, CURE Auto Insurance.
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Charles Potts: Fueling growth through innovation
Independent Banker
JUNE 30, 2022
Rockland Trust Company, with $20 billion in assets and branches in Massachusetts and Rhode Island, also partnered with one of the companies that came through our Accelerator program: Agent IQ.
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Some Big Facebook Investors Call For Zuckerberg’s Ouster
PYMNTS
OCTOBER 17, 2018
Facebook Chief Executive Mark Zuckerberg is in the crosshairs of some major investors, including public pension funds and state officials who want the CEO ousted from the social media company. Rhode Island, Illinois and Pennsylvania state treasurers are also joining the initiative.
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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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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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Report: 80 Pct. Of NJ Gamblers Place Wagers Online
PYMNTS
SEPTEMBER 2, 2019
Legislators in Rhode Island, for example, debated allowing mobile sports betting after extending it to casinos. Legal online sports gambling is providing business opportunities not only to payment services providers but also to companies that sell digital ID authentication services. That’s pushing companies like casino site 888.com
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Citizens hires JPMorgan Chase exec to lead digital expansion
American Banker
OCTOBER 28, 2020
Donald Felix will join the Rhode Island company in January as head of national banking. He recently was responsible for developing a personal finance management strategy for JPMorgan Chase’s consumer bank.
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Three People Sue Apple Over iTunes Privacy Issues
PYMNTS
MAY 28, 2019
Three Apple customers have sued the tech company over what they say are privacy violations, claiming that Apple allegedly shared their listening habits with third parties, according to reports. The plaintiffs, who live in Michigan and Rhode Island, are trying to get class-action status for the lawsuit.
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Bitcoin Daily: FINMA Grants Licenses To Two New Blockchain Firms; ShortHop Crypto Exchange Launches In Seven New States
PYMNTS
AUGUST 26, 2019
The Swiss Financial Market Supervisory Authority (FINMA) has granted the first “banking and securities licenses” to two blockchain companies: SEBA Crypto AG and Sygnum AG. states: Indiana, Massachusetts, Nevada, New Jersey, Rhode Island, Arizona and Montana. The exchange is already live in California, Washington and Illinois.
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Ongoing US China Trade War Causes Morgan Stanley To Slash Apple Price Target
PYMNTS
MAY 30, 2019
Analyst Katy Huberty did not change estimates for the company’s sales or profits, and said the price cut was founded on comparative companies’ performance. The company also manufactures a lot of things in China, so it would theoretically be hit hard with proposed tariffs. “In
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129 Citizens Bank Partners With Microsoft Xbox All Access
PYMNTS
OCTOBER 28, 2019
The bank collaborated with the online financial company LiftForward to develop the platform for the Xbox All Access program. Headquartered in Rhode Island, Citizens Bank is one of the largest and oldest financial institutions in the United States, according to its website.
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Court Filings Show Facebook’s Data Policy Was About Competition, Not Privacy
PYMNTS
NOVEMBER 6, 2019
Nearly 7,000 pages of company emails and executive documents, included those in sealed California court filings, were leaked by an anonymous source. The documents were provided to several media outlets by British journalist Duncan Campbell after he first submitted them to Congressman David Cicilline (D-Rhode Island), chairman of the U.S.
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100 Citizens Bank To Offer Consumer Financing For Microsoft’s Xbox All Access
PYMNTS
OCTOBER 28, 2019
The bank collaborated with the online financial company LiftForward to develop the platform for the Xbox All Access program. Headquartered in Rhode Island, Citizens Bank is one of the largest and oldest financial institutions in the United States, according to its website.
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Postmates Is Now Available In 60 Percent Of U.S. Households
PYMNTS
OCTOBER 18, 2018
The company listed Providence, Rhode Island; Colombia, South Carolina; Little Rock, Arkansas and Athens, Georgia as newly-added service areas.
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US Lawmakers Want Cheaper Chapter 11 For SMBs
PYMNTS
DECEMBER 3, 2018
Sheldon Whitehouse (D-Rhode Island), would introduce incentives for small business owners that want to maintain ownership of their companies. The Small Business Reorganization Act of 2018, introduced Thursday (Nov. 29) by Sen. Chuck Grassley (R-Iowa) and Sen. The bill includes protections for creditors, too.
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124 The United States Of Artificial Intelligence Startups
CB Insights
MARCH 13, 2019
Collectively, these startups have raised over $5B, with leading companies such as Butterfly Network (Connecticut, $350M in total disclosed equity funding), Welltok (Colorado, $339M), and InsideSales.com (Utah, $264M). Rhode Island. Using the CB Insights database, we mapped out the top-funded AI startup in every US state.
Russell E. Hogg, Former Mastercard President, Dies At 91
PYMNTS
JULY 19, 2019
Hogg held the position from 1980 to 1988 and was pivotal to the company. He was also instrumental in introducing the company’s “global family of products,” which included the Travel Check, Smart Card, Gold Card and the Debit Card. The former president and CEO of Mastercard International has died at the age of 91. operations.
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Under Armour Names Amazon Exec New CMO
PYMNTS
AUGUST 12, 2016
Donkin, who Forbes says is known for “his focus on emotional connection and loyalty to Amazon,” headed up the online retailer’s ad campaigns for Amazon Prime, Amazon Fire TV, Amazon Kindle, Amazon Echo and Amazon retail, as well as other creative initiatives at the company. Donkin will start on Aug. 22, according to Forbes.
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Mastercard And BJ’s To Offer A ‘Priceless’ Boston Experience
PYMNTS
AUGUST 3, 2016
The credit card company and retail wholesaler announced on Tuesday (Aug. 2) that they are running a contest to reward shoppers who pay with Mastercard credit, debit or prepaid cards at BJ’s locations in Rhode Island, New Hampshire, Maine and Massachusetts. The prize?
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Restaurant Business Serves Up Mixed Plate For 2020
PYMNTS
FEBRUARY 27, 2020
Matthew Britt, a chef and culinary instructor at Johnson & Wales University in Providence, Rhode Island told FSR that he was concerned about the long-term impact of restaurant outsourcing. With their growing usage, the National Restaurant Association 2030 report posits that app companies could become private label restaurants.
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151 Kohl’s To Debut New eCommerce Facility, Small-Format Stores
PYMNTS
AUGUST 23, 2017
The 937,000-square-foot facility will be home to the most recent technology, allowing the company to quickly process, fill and ship online orders as quickly and efficiently as possible. In addition, all Kohl’s retail locations will continue to fulfill and ship select orders from the company’s online retail storefront.
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TRENDING: An Inside Look At Applebee?s Mobile Order Ahead Strategy
PYMNTS
JUNE 15, 2018
The pilot service is currently offered at 19 Massachusetts store locations and two other locations in Rhode Island. The company, which oversees IHOP (or, shall we say, IHOb ) and Applebee’s, is testing and developing a service in which customers can order meals ahead to be ready to eat when they arrive to dine in.
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