Tag: Banking And Finance
New federal escrow rule could cloud mortgage market
For thousands of Rhode Island homeowners, the outcome of a legal fight over mortgage escrow accounts could determine whether money they set aside for...
Payday lending ending in R.I., but a gap will remain
Rhode Island is preparing to shut down traditional payday lending next year.
Beginning in 2027, payday lenders will no longer be exempt from the state’s...
Banks doubling down on downtown branches
Bristol County Savings Bank cut the ribbon on its new full-service branch at 5 Exchange St. in downtown Providence in March, placing another community...
Would 50-year mortgages ease affordability crisis?
The Trump administration has floated the idea of a 50-year mortgage as a way to make homes more affordable at a time of skyrocketing...
Citizens CEO to Chamber: ‘In moments like this, you don’t pull...
PROVIDENCE – Citizens Financial Group Inc. CEO and Chairman Bruce Van Saun told Rhode Island business leaders that companies prepared to invest in talent...
Gen Z banks differently; can credit unions keep up?
Gen Z is poised to become the most powerful force in consumer finance in the coming years, but credit unions risk missing out if...
As crypto ATM scams grow, R.I. moves to prevent them
These aren’t your parents’ ATMs – they’re a new tool increasingly exploited by scammers.
Similar in appearance to traditional ATMs found in convenience stores, laundromats...
Credit card legislation has banks up in arms
A legislative move to increase competition in the credit card payment network – dominated by Visa Inc. and Mastercard Inc. – is facing severe...
Grants, not loans, coming to aid businesses hurt by Washington Bridge...
In areas hardest hit by the Washington Bridge closure, many business owners have implored officials that it’s going to take more than a loan...
SBA’s new pilot program a potential line of credit
Today, the average annual percentage rate on a new small-business credit card is 17.82%, but that hasn’t stopped roughly 25% of businesses from using...
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