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 Yet Rhode Island tax law was already a bit outdated by the time the 2011 law took effect.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.

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

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

Rhode Island Credit Union Adds 18-Month CD, 3.05% APY

Deposit Accounts

Offers & Promotions Rhode Island Credit Union Credit Union Information Page | Receive Alerts for this Credit Union. Rhode Island Credit Union Adds 18-Month CD, 3.05% APY POSTED ON FRIDAY, DECEMBER 7, 2018 BY Ken Tumin Deal Summary: 18-month CD, 3.05% APY, $500 minimum deposit. Availability: Residents of Rhode Island and those who live/work within 50 miles of the Rhode Island border. 3.05% APY 18-Month CD Rhode Island Credit Union.

Taxi Medallion Participation Loans Hit Connecticut and Rhode Island CUs

Keith Leggett's Credit Union Watch

It appears that nonperforming taxi medallion loans affected the 2017 performance of 360 Federal Credit Union (Windsor Locks, CT) and Postal Government Employees Credit Union (Providence, RI). 360 Federal Credit Union The credit union is reporting at the end of 2017 that it held almost $11.4 million in commercial participation loans, presumably these loans were taxi medallion loans. This is down from $14.6 million at the end of 2016. These commercial loans at the end of 2017 represented 7.05

Rhode Island Treasurer Announces Bank Local Program to Fund Small Business Loans

Keith Leggett's Credit Union Watch

Rhode Island General Treasurer Seth Magaziner on February 16th announced "Bank Local", a community deposit program. Bank Local" program will move state deposits to local banks and credit unions to encourage loans to Rhode Island small businesses. Currently, six Rhode Island banks and credit unions have joined the program, and in recent weeks more than $4.5

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.

HarborOne in Mass. lines up its first bank acquisition

BankThink

The company's deal for Coastway Bancorp in Rhode Island makes sense since both institutions are former credit unions. Community banking M&A Credit unions Capital Growth strategies Mortgages Massachusetts Rhode Island

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

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.

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.

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.

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.

Rhode Island Deal: 1.50% On 2-Year CDs

Bankaholic

Navigant Credit Union''s local deal easily beats the top nationally available return of 1.35% APY from the banks on our CD Rates Leaderboard. CD Rates 24-month cds cd rates leaderboard navigant credit union savings account

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

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.

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

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%.

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

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.

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 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

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

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.

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.

Credit union leagues vote to merge

CU Insight

The trend of state leagues consolidating continues as credit unions in Massachusetts, New Hampshire and Rhode Island vote this month to determine whether to merge their trade associations. Uncategorized Cooperative Credit Union Association Credit Union Association of Rhode Island Credit Union League Massachusetts Credit Union League Paul Gentile the New Hampshire Credit Union League by: Peter Strozniak.

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.

Coventry Credit Union Raises Rate On 5-Year CD To Competitive Level

Deposit Accounts

Coventry Credit Union (Rhode Island) raised the rates on all of its CDs today, with the 5-year CD (2.25% APY) now at a competitive level. Coventry Credit Union is a state-chartered "natural persons" credit union, with the only membership requirement being residency in the state of Rhode Island. In 64 years of operations, it has grown to be the 5th largest credit union in Rhode Island, both in terms of membership (27,000+) and assets ($236+ Million).

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

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.

Some Big Facebook Investors Call For Zuckerberg’s Ouster

PYMNTS

Rhode Island, Illinois and Pennsylvania state treasurers are also joining the initiative. 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. According to CNBC , New York City Comptroller Scott Stringer said Facebook’s board needs to make a real commitment to addressing the risks.

The United States Of Venture Capital: The Most Active VC In Each State

CB Insights

Rhode Island. Although startups based in California, New York, and Massachusetts have traditionally accounted for the majority of VC tech investment in the US, VCs are spurring other hotbeds of innovation across the country.

Inside Sales Management

MZ Bierly Consulting, Inc.

In the first of a two-part interview, Frank Casale, Regional Vice President for Rhode Island and Southeastern Massachusetts for TD Bank, discusses the challenge of recruiting and onboarding commercial Relationship Managers.

Mastercard And BJ’s To Offer A ‘Priceless’ Boston Experience

PYMNTS

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. Boston doesn’t quite make it into the top tier of U.S. cities, like New York, L.A. and Chicago, but what it does offer in history, culture and sports draws tourists from across the country.

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The Acela Primary Underway In States Where Businesses Are Struggling

PYMNTS

Voting in the five-state run today are Connecticut, Delaware, Maryland, Pennsylvania and Rhode Island, and the picture for small and local businesses isn’t fully inspiring. Only a notch above Rhode Island in terms of size, every metric paled in comparison to its regional and national counterpart, with employment barely breaking even at 0.4 Rhode Island. The key drag here seems to be employment growth, where Rhode Island came in at 1.3

Google’s Black Friday Mobile Data

PYMNTS

Consumers in Rhode Island and Delaware were top in the nation in local shopping searches on Black Friday — searches that contained “near me,” hours and stores. The holiday shopping season has finally kicked into high gear — in online stores and brick-and-mortar alike. Recent data from Google show that, though customer foot traffic may be on a downward trend the rest of the year, Black Friday brings them back into stores — especially if the store sells electronics, clothing or toys.

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Under Armour Names Amazon Exec New CMO

PYMNTS

He holds an MBA from Boston University’s Questrom School of Business and an MS from the University of Rhode Island, according to his LinkedIn profile. Under Armour has announced that Andy Donkin, who served as Amazon’s head of worldwide and mass brand marketing for the past four years, will serve as the sports apparel retailer’s new chief marketing officer.