Rhode Island moves $15M in deposits to local banks, credit unions

GENERAL TREASURER Seth Magaziner, left, celebrates moving $15 million in state deposits to local banks and credit unions at Budare Grille in Central Falls in August./ COURTESY R.I OFFICE OF THE GENERAL TREASURER
GENERAL TREASURER Seth Magaziner, left, celebrates moving $15 million in state deposits to local banks and credit unions at Budare Grille in Central Falls in August./ COURTESY R.I OFFICE OF THE GENERAL TREASURER
PROVIDENCE –  The state has moved $15 million in deposits to local banks and credit unions as part of an initiative to spur small-business lending. R.I. General Treasurer Seth Magaziner in February launched the initiative, dubbed BankLocal, saying he would match up to $30 million in deposits for local banks and credit unions that made…

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