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. Consumer Finance consumer finance credit card debt credit cards Editors' Picks Interest Rates News Rhode Island

Berkshire Hills to enter Rhode Island with SI Financial purchase

BankThink

Community banking M&A Capital Growth strategies Massachusetts Connecticut Rhode IslandThe $180 million acquisition is the first for Berkshire since the sudden departure of CEO Michael Daly.

Rhode Island brings sales tax law into 21st century

Perficient Financial Servies

Like many states, Rhode Island has been gradually adapting its sales and use tax laws to the realities of the computerized age. That was a big step in bringing Rhode Island sales tax law into the modern age. Yet Rhode Island tax law was already a bit outdated by the time the 2011 law took effect. Rhode Island, at least, is not one of them. Learn more about Rhode Island’s new tax on SaaS in this Avalara blog.

Rhode Island Gives London's WorldRemit a Key Market in U.S.

Payments Source

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. regulation-compliance regulation global

Is time running out for small banks in real-time payments?

BankThink

Real-time payments Community banks Growth strategies The Clearing House Association Citizens Bank Rhode IslandMore businesses are considering moving away from cash and checks, according to a recent survey by Citizens.

Bitcoin Daily: Fed Reserve Could Add Bitcoin To Stress Tests; Thai SEC Bans 3 Cryptos

PYMNTS

In other news, Rhode Island lawmakers have filed a bill to exempt certain blockchain tokens from securities laws. The U.S.

Citizens to buy wealth management firm in New York

BankThink

Wealth management High net worth M&A Regional banks Rhode IslandClarfeld Financial Advisors will become a division of Citizens Bank Wealth Management.

United Financial in Conn. to enter new markets with branch purchase

BankThink

The company will snag its first branches in three towns in Connecticut and Rhode Island after buying locations from Webster Financial. Community banking M&A Branch network Branch deals Connecticut Massachusetts Rhode Island

WorldRemit enables money transfers for Rhode Island residents

The Paypers

(The Paypers) WorldRemit , a global digital remittances services, has announced that Rhode Island residents can securely send money overseas via its mobile app

Citizens’ 3Q boosted by mortgage acquisition

BankThink

Earnings Consumer banking Commercial lending Bruce Van Saun Citizens Bank Rhode IslandThe Providence, R.I., company reported a 27% gain in profits thanks partly to a boost in fee income from its purchase of Franklin American Mortgage in August.

Why bank M&A has been so quiet in the Northeast

BankThink

M&A Consolidations Community banking Deposits CRE New York New Hampshire New Jersey Connecticut Maine Massachusetts Vermont Rhode Island PennsylvaniaOnce a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis.

Banks shunning mortgages? Citizens' deal proves otherwise

BankThink

M&A Originations MSR Consumer banking Regional banks Citizens Financial Rhode Island TennesseeAs other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.

Washington Trust in R.I. lines up CEO succession

BankThink

Community banking Succession planning Growth strategies Rhode IslandJoseph MarcAurele will retire as chairman and CEO in March. The company's president and chief operating officer, Ned Handy, will take the helm.

Regionals step on gas in retail loans as commercial lending sputters

BankThink

Earnings Consumer lending Mortgages Home equity loans Regional banks Citizens Financial SunTrust Regions Bank Rhode Island Georgia AlabamaCitizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending.

Why have three regulators when one will do?

BankThink

Compliance Charter conversions Citizens Bank Citizens Financial FDIC OCC Rhode Island PennsylvaniaCitizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials.

Washington Trust's next CEO looks to double down in R.I.

BankThink

Community banking Deposits Growth strategies Rhode IslandNed Handy, who will take the helm in March, wants to be more aggressive luring deposits in the company's home state. That should reduce the company's reliance on other funding sources to support loan growth.

Citizens to buy M&A firm in Atlanta

BankThink

The Rhode Island bank is one of several regionals that have snapped up dealmaking boutiques in recent years to bolster noninterest income. M&A Commercial banking Capital markets Regional banks Citizens Financial

Citizens' AI drive hits a wall — commercial loan processing

BankThink

An executive at the Rhode Island company said the complexity of business lending remains an obstacle to switching to entirely automated, paperless operations. Machine learning Artificial intelligence Commercial lending Commercial banking Fintech APIs CIO Citizens Bank Green Dot

8.9.19 Your morning briefing

Payments Source

Today: Commerz pilots M2M; Postmates deploys robots; Libra encourages new technology; State Farm suffers a breach; Rhode Island issues crypto regulations. The information you need to start your day, from PaymentsSource and around the Web.

Citizens looks to poach BB&T-SunTrust talent, but should expect a fight

BankThink

The Rhode Island company is counting on disruption from the megamerger to accelerate its Southeast expansion, according to commercial banking chief Don McCree.

25 Million Mobile Users, Only 2 Million on Bank of America’s Erica

Bank Innovation

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. That's not even 8%.

Onsite: National Credit Union Foundation Dinner Presenting the Herb Wegner Memorial Awards at #CUNAGAC

CU Insight

former president of the Massachusetts, New Hampshire and Rhode Island Credit Union Leagues. Alan Peppers Credit Union Association of Rhode Island CU 4 Reality CU 4 Reality Financial Literacy Fair CUNA CUNA GAC CUNA Mutual Group CUNAGAC Dan Egan Daniel F.

Citizens Access Targeting ‘Optimizers’ to Grow Deposits Beyond the Bank’s Footprint

Bank Innovation

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.

Why Citizens is willing to pay so much for deposits

BankThink

The Rhode Island bank’s deposit costs nearly doubled in the first quarter, but CEO Bruce Van Saun says it has to go on the offensive to sustain loan growth. Deposits Commercial lending Consumer lending Growth strategies Earnings Interest rate risk Bruce Van Saun Citizens Bank

CItizens makes big mortgage move with $500M acquisition

BankThink

The Rhode Island regional agreed to buy Franklin American Mortgage in a deal that will give it one of the nation's 15 largest bank-owned mortgage platforms. M&A Regional banks Mortgages

USAA's penalty; GSE reform gets harder; Citizens' buy: Top stories of the week

BankThink

OCC orders USAA to improve risk management; White House's mixed signals complicate housing finance reform debate; Rhode Island bank snaps up dealmaking boutique; and more from this week's most-read stories. Penalties and fines Enforcement actions Data privacy Housing finance reform BB&T SunTrust USAA Deutsche Bank CFPB

Citizens unveils latest efficiency program even as profits rise

BankThink

The Rhode Island bank plans to build out its fee income capabilities, expand C&I lending in the Southeast, renegotiate vendor contracts and take other steps to produce expense cuts and revenue enhancements of at least $90 million. Earnings Expense management Commercial lending Consumer lending Net interest margin Middle market Bruce Van Saun Citizens Financial

Does NCUA’s Restructuring Plan Make CentsSense?

New York's State of Mind

Region 1 overseas the following states: federally insured credit unions in Connecticut, Maine, Massachusetts, Michigan, New Hampshire, New York, Rhode Island, Vermont, and Wisconsin. NCUA announced Friday that it plans to shut down Region 1 as part of a restructuring of its operations. Region 3, based in Atlanta, is also marked for death.

Court Filings Show Facebook’s Data Policy Was About Competition, Not Privacy

PYMNTS

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.

The United States Of Artificial Intelligence Startups

CB Insights

The startup with the least funding on the list is Rhode Island’s The Innovation Scout , a SaaS platform that has raised $50K. Rhode Island. Funding to artificial intelligence startups is soaring. Last year, VCs invested a record $9.3B

Bitcoin Daily: FINMA Grants Licenses To Two New Blockchain Firms; ShortHop Crypto Exchange Launches In Seven New States

PYMNTS

states: Indiana, Massachusetts, Nevada, New Jersey, Rhode Island, Arizona and Montana. 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.

Small Business Bankruptcy Bill Becomes Law

PYMNTS

Sheldon Whitehouse (D-Rhode Island), included incentives for small business owners to retain ownership of their companies, as well as creditor protections. President Donald Trump has signed into law legislation that streamlines the bankruptcy process for small businesses and farmers.

Ongoing US China Trade War Causes Morgan Stanley To Slash Apple Price Target

PYMNTS

The plaintiffs, who live in Michigan and Rhode Island, are trying to get class-action status for the lawsuit. A Morgan Stanley analyst has cut the price target on Apple from $240 to $231 in a note to investors, according to a report by CNBC.

Report: 80 Pct. Of NJ Gamblers Place Wagers Online

PYMNTS

Legislators in Rhode Island, for example, debated allowing mobile sports betting after extending it to casinos.

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Big Tech Faces Yet Another Congressional Hearing

PYMNTS

David Cicilline of Rhode Island. Big tech companies Facebook , Google and Amazon are going to be the subject of a new congressional hearing, in addition to the series of investigations ongoing from regulators and lawmakers already in motion, according to a report by Bloomberg.

Postmates Is Now Available In 60 Percent Of U.S. Households

PYMNTS

The company listed Providence, Rhode Island; Colombia, South Carolina; Little Rock, Arkansas and Athens, Georgia as newly-added service areas. Postmates announced that it is expanding into 134 new cities so that it now covers 60 percent of the U.S.

Chinese Hackers Target Navy Contractors To Steal Military Secrets

PYMNTS

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 have targeted U.S.

Bringing The Farmers Market Online With Apps

PYMNTS

That opens the door for producers from Southern Maine, New Hampshire, Western Massachusetts and Rhode Island.) When it comes to geography, Rhode Island, where the company is based, has advantages for a startup.

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Citizens Bank To Offer Consumer Financing For Microsoft’s Xbox All Access

PYMNTS

Headquartered in Rhode Island, Citizens Bank is one of the largest and oldest financial institutions in the United States, according to its website.

Citizens Bank Partners With Microsoft Xbox All Access

PYMNTS

Headquartered in Rhode Island, Citizens Bank is one of the largest and oldest financial institutions in the United States, according to its website.

US Lawmakers Want Cheaper Chapter 11 For SMBs

PYMNTS

Sheldon Whitehouse (D-Rhode Island), would introduce incentives for small business owners that want to maintain ownership of their companies. According to The Wall Street Journal ( WSJ ) on Friday (Nov. 30), two U.S.

TRENDING: An Inside Look At Applebee’s Mobile Order Ahead Strategy

PYMNTS

The pilot service is currently offered at 19 Massachusetts store locations and two other locations in Rhode Island. From QSRs to casual dining operations, restaurants are tapping into mobile ordering to capture busy customers with no time to dine in.

Committee Hearing To Examine Big Tech’s Media Market Power

PYMNTS

David Cicilline of Rhode Island, who serves on the antitrust subcommittee, have co-sponsored legislation where local news organizations can negotiate with larger platform companies over issues such as access.