INDUSTRY INSIGHTS YOUR PEERS ARE READING
Wealth management High net worth M&A Regional banks Rhode IslandClarfeld Financial Advisors will become a division of Citizens Bank Wealth Management. MORE
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 MORE
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. MORE
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. MORE
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. MORE
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 MORE
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. MORE
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. MORE
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 MORE
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 MORE
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. MORE
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. MORE
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 MORE
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. MORE
(The Paypers) WorldRemit , a global digital remittances services, has announced that Rhode Island residents can securely send money overseas via its mobile app MORE
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 MORE
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. MORE
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. MORE
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. MORE
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 MORE
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). MORE
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. MORE
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. MORE
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 MORE
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. MORE
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. MORE
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 MORE
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 MORE
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 MORE
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. MORE
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. MORE
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. MORE
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 MORE
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. MORE
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. MORE
In other news, Rhode Island lawmakers have filed a bill to exempt certain blockchain tokens from securities laws. The U.S. MORE
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 MORE
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 MORE
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. MORE
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 MORE
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%. MORE
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. MORE
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. MORE
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. MORE
Rhode Island Related Topics PYMNTS
APRIL 9, 2019
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
BankThink
DECEMBER 12, 2018
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.
Perficient Financial Servies
OCTOBER 8, 2018
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.
The Paypers
OCTOBER 18, 2016
(The Paypers) WorldRemit , a global digital remittances services, has announced that Rhode Island residents can securely send money overseas via its mobile app
Payments Source
OCTOBER 17, 2016
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
Deposit Accounts
DECEMBER 7, 2018
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.
Keith Leggett's Credit Union Watch
FEBRUARY 2, 2018
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
Keith Leggett's Credit Union Watch
FEBRUARY 19, 2017
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
BankThink
NOVEMBER 5, 2018
Wealth management High net worth M&A Regional banks Rhode IslandClarfeld Financial Advisors will become a division of Citizens Bank Wealth Management.
BankThink
MARCH 15, 2018
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
BankThink
MAY 22, 2018
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
BankThink
OCTOBER 19, 2018
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.
BankThink
JULY 30, 2018
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.
BankThink
MAY 31, 2018
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.
BankThink
SEPTEMBER 26, 2017
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.
BankThink
MAY 10, 2018
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.
BankThink
JANUARY 19, 2018
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.
BankThink
SEPTEMBER 28, 2017
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.
Bankaholic
APRIL 12, 2015
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
BankThink
MARCH 20, 2019
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
Bank Innovation
MARCH 5, 2019
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.
BankThink
FEBRUARY 19, 2019
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
Bank Innovation
AUGUST 30, 2018
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%.
BankThink
APRIL 18, 2019
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
CU Insight
FEBRUARY 23, 2016
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.
BankThink
FEBRUARY 22, 2019
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
BankThink
MAY 31, 2018
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
CB Insights
MARCH 13, 2019
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
New York's State of Mind
JULY 24, 2017
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.
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 have targeted U.S.
CU Insight
OCTOBER 18, 2014
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.
PYMNTS
OCTOBER 18, 2018
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.
Deposit Accounts
OCTOBER 24, 2014
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).
BankThink
JULY 21, 2017
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
PYMNTS
DECEMBER 3, 2018
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.
PYMNTS
JUNE 15, 2018
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.
PYMNTS
OCTOBER 17, 2018
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.
CB Insights
FEBRUARY 1, 2019
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.
MZ Bierly Consulting, Inc.
JULY 17, 2017
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.
PYMNTS
AUGUST 3, 2016
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.
PYMNTS
APRIL 26, 2016
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
PYMNTS
NOVEMBER 29, 2016
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.
PYMNTS
AUGUST 12, 2016
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.
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