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IN THE DRIVER’S SEAT: Frederick Reinhardt, CEO and president of Greenwood Credit Union, says more people were turning to Greenwood and other credit unions for auto loans as interest rates changed over the last year.  PBN PHOTO/MICHAEL SALERNO

Suddenly, auto loans popular at credit unions

Economy 06/09/2023

Frederick Reinhardt immediately noticed something was up – way up – last year shortly after the Federal Reserve began hiking interest rates from nearly...

NO PROBLEM YET: Rebecca Twitchell, owner of Half Full LLC consulting agency in Providence, says access to capital has not been a concern of hers so far, even though there are increased worries about a coming credit crunch in the small-business community.  PBN PHOTO/RUPERT WHITELEY

Should R.I. businesses prep for potential credit crunch?

Economy 06/09/2023

After a tumultuous first half of 2023 for U.S. banks, many observers fear that a credit crunch is fast approaching, if it hasn’t already...

IMPROVED FORMULA? Joseph Baptista, president of Anchor Financial Mortgage Inc. in Pawtucket, says the Federal Housing Finance Agency’s plan to change the way risk-based fees are applied to home loans seems logical. PBN PHOTO/MICHAEL SALERNO

Changes in mortgage fee structure may shake up industry

Financial Services 03/03/2023

Charging higher fees to a borrower who makes less money and has more debt has historically been the best way for mortgage lenders to...

Many banks consolidating jobs as economy shifts

Focus 09/16/2022

While restaurants and retailers were laying off their workers at the onset of the COVID-19 pandemic, banks embarked on a hiring spree in the...

RETAIL TEAM: Amy Arruda, senior vice president of retail banking at Washington Trust, right, with Melanie Connelly, vice president of retail banking, at the bank’s Westerly headquarters. / PBN PHOTO/ELIZABETH GRAHAM

Deferred loans, waived fees part of pandemic response for banks

Coronavirus 06/19/2020

The consumer messaging of banks and credit unions through the COVID-19 pandemic has been consistent: we’re here for you. When it comes to bank fees...

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