Bitcoin Daily: Rhode Island’s Blockchain Act Aims For Crypto Rules Too; Rapper Akon Details Crypto Plans

PYMNTS

In other digital currency news, the state of Rhode Island introduced a bill last Wednesday (March 11) to create a blockchain-friendly business environment to attract digital innovators. “If

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 IslandIn the United States, credit card balances and the interest rates charged on those balances are on the rise. In the latest data , more than $870 billion in credit card debt is outstanding in the United States.

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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

Pawtucket Credit Union finds new leadership close to home

American Banker

The Rhode Island institution's next CEO has led lending operations at nearby Navigant Credit Union since 2017. ]]. C-suite Credit unions Rhode Island Succession planning Hiring

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.

Rhode Island Governor Tapped As Biden’s Commerce Secretary

PYMNTS

President-elect Joe Biden has tapped second-term Rhode Island Gov. Raimondo , the first woman to be governor of Rhode Island, will lead the Commerce Department in setting trade policy and furthering U.S.

Using Debit Cards To Bridge The Stimulus Accessibility Gap

PYMNTS

Next-Gen Debit ACH card not present debit debit cards disbursements Dorcas International Institute of Rhode Island EBT Featured News financial aid Galileo News Next-Gen Debit Tracker Office of Healthy Aging PULSE stimulus stimulus payments Tracker Series weR1

Bristol County Savings expanding in R.I. with Freedom purchase

American Banker

Community banking M&A Growth strategies Massachusetts Rhode IslandThe Massachusetts savings bank will gain branches in two communities as part of the acquisition.

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

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. Bitcoin Ban bitcoin blockchain tokens collapse consumptive purpose cryptocurrencies federal reserve market risks News Rhode Island SEC securities stress tests Thailand What's HotThe U.S.

BofA lending to states that don't want to wait on Fed

American Banker

Bank of America Hawaii Massachusetts Rhode Island General obligation bondsSome states aren't waiting on the Federal Reserve to help with the historic hits to their budgets. Instead, they're working with a lender that they have a much longer history with: Bank of America.

Bankers try on second hats — as economic forecasters

American Banker

Economy Growth strategies Community banks Rhode Island California Pennsylvania

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

Finastra onboards 25 financial institutions onto cloud-based core banking solution

BankInovation

The London-based Finastra’s new client institutions include a mix of banks and credit unions such as the Rhode Island-based Peoples Credit Union, First National Bank of Manchester in Kentucky, and Indiana-based Fowler State Bank. […].

Millbury National Bank Offers Kasasa Cash and Saver in the Northeast

BankDeals

Millbury National Bank's Kasasa Cash and Kasasa Saver are available in Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont

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.

Savers Bank Offers Rewards Checking Account In CT, MA, and RI

BankDeals

citizens/resident aliens who live in Connecticut, Massachusetts, or Rhode Island Savers Bank offers its competitive rewards checking account, Ka-Ching Checking, to U.S.

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. Briefing

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%.

CFPB’s unexpected showdown with Citizens

American Banker

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.

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.

The New York State Banking Market Becomes Even More Competitive

New York's State of Mind

Crain’s New York Business is reporting that Rhode Island based Citizens Financial Group agreed on Wednesday to buy Investors Bank of New Jersey for $3.5 The metropolitan area is about to get another aggressive financial institution. Billion. The move comes just two months after the bank purchased HSBC’s New York branches. A couple of quick […].

Citizens hires JPMorgan Chase exec to lead digital expansion

American Banker

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. Digital banking Citizens Financial Hiring Recruiting

Justice Department targets PPP fraud; Wells (again) under the microscope

American Banker

Prosecutors charge two Rhode Island men with trying to rip off the program; the bank says it has received “inquiries” from state and federal officials on its offering of small business loans. Digital banking Wells Fargo Investment banking Nonbank DoJ Small business lending Paycheck Protection Program

New Jobless Claims Drop To Lowest Level Since Pandemic’s Start

PYMNTS

Puerto Rico, California, District of Columbia, New Jersey, Illinois, Rhode Island, Connecticut, New York, the Virgin Islands and Nevada had the highest insured unemployment rates. New jobless claims for the week ending Aug.

DOJ To Investigate Intuit’s $7B Takeover Of Credit Karma 

PYMNTS

David Cicilline , (D-Rhode Island) raised questions about the deal. The U.S. Department of Justice (DOJ) has launched a probe into Intuit ’s $7.1 billion purchase of Credit Karma.

Smaller branches, more versatile staff: Citizens Bank's new normal

American Banker

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. Digital banking Bruce Van Saun Citizens Financial Consumer banking Digital Banking 2020

Congress' Letter to Amazon Questions Statements Made Under Oath

PYMNTS

Five members of Congress sent a letter to Amazon CEO Andy Jassy asking for proof regarding some statements made by company executives — including then-CEO and Founder Jeff Bezos — and questioning if some may have lied while under oath during 2019 and 2020 investigations, The Wall Street Journal reported after viewing the correspondence.

New Jobless Claims Drop Amid Variant Rise, Vaccine Unease

PYMNTS

In the week that ended July 10, extended benefits were available in Alaska, California, Connecticut, District of Columbia, Illinois, Massachusetts, Nevada, New Jersey, New Mexico, New York, Rhode Island and Texas.

First Pandemic Loan Scammer Sent To Federal Prison After Faking Suicide

PYMNTS

Staveley and his co-conspirator David Andrew Butziger, 53, of Warwick, Rhode Island, allegedly applied for COVID-19 relief funds under the false claims they were the owners of four businesses, including three restaurants, all of which they said had had “large monthly payrolls.”.

New Klobuchar Bill Will Attempt To Curb Monopolies, Big Tech Power

PYMNTS

David Cicilline of Rhode Island, although Klobuchar’s version won’t include provisions to undo previous mergers or other structural reforms like Cicilline had advocated, NYT reported.

Amazon Adds Delivery Fee For Prime Customers Ordering From Whole Foods

PYMNTS

30, in the areas of Boston; Chicago; Manchester, New Hampshire; Portland, Maine; and Providence, Rhode Island, the report stated.

Google Slapped With Antitrust Lawsuit Filed By Coalition Of 38 States

PYMNTS

A coalition of 38 state attorneys general filed an antitrust lawsuit against Google , accusing the search giant of engaging in anti-competitive practices, the Associated Press (AP) reported on Thursday (Dec. The federal lawsuit was filed in Washington, D.C.

Democrats Plan Big Tech Antitrust Offensive

PYMNTS

David Cicilline of Rhode Island, the bills might make it harder for tech giants to lobby against reforms, 9to5Mac reported, citing Axios. Democrats in the U.S. Congress could introduce 10-plus bills involving antitrust concerns, according to a report from 9to5Mac.

New Jobless Claims Edge Up Beyond Forecasts

PYMNTS

28 were Puerto Rico, California, New Jersey, District of Columbia, Illinois, New York, Rhode Island, Connecticut, Georgia and Hawaii. For the week ending Sept.