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FTC Files Case Against RI Firm Allegedly Posing As SBA Lender; Company Claims Error

PYMNTS

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). District Court for the District of Rhode Island, alleged that the company, also doing business as SBA Loan Program and SBA Loan Program.com, and its owner John C.

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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.

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Chinese Hackers Target Navy Contractors To Steal Military Secrets

PYMNTS

Chinese hackers go after contractors because often, they don’t have the resources needed to secure their networks. 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. It called the security breaches unacceptable.

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

PYMNTS

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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Some Big Facebook Investors Call For Zuckerberg’s Ouster

PYMNTS

Rhode Island, Illinois and Pennsylvania state treasurers are also joining the initiative. We have a major security effort at the company that hardens all of our surfaces.” We’re taking it really seriously,” Facebook Chief Executive Mark Zuckerberg told reporters in a conference call. “We

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Bad Actors Emerge in PPP Lending – More Expected as Forgiveness Guidance Emerges

Abrigo

As the initial rush to secure PPP loans dies down, financial institutions now face a new set of questions: How do financial institutions handle misused, unforgiven loans and fraudulent loans? In the case of the two men in Rhode Island, there were several red flags pointing to fraud. Is there a difference?

Lending 195
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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. million or less in debt. The Small Business Reorganization Act of 2018, introduced Thursday (Nov. 29) by Sen.