Center For Responsible Lending - Providence Business News

AT IT AGAIN: State Rep. Karen Alzate, D-Pawtucket, says the first bill she filed this legislative session was one that would restrict payday lenders, a measure that some legislators have been trying to get passed for more than a decade.  PBN PHOTO/MICHAEL SALERNO

Payday lender opponents renew legislative effort

Financial Services 03/14/2025

Advocates for payday lending reform celebrated lin 2023 when the House voted overwhelmingly for a bill they believed would finally curtail so-called “payday lenders,”...

ON THE DECLINE? The estimated annual amount of overdraft fees collected by U.S. banks and credit unions has dropped from a high of nearly $12 billion in 2019 to $5.3 billion in 2023. But the Consumer Financial Protection Bureau rule would cut further into that revenue. SOURCE: Federal Deposit Insurance Corp. data; Federal Financial Institutions Examination Council

Bankers fight to overturn rule on overdraft fees

Financial Services 03/14/2025

A proposed banking regulation that one federal agency says will save Americans $5 billion a year in overdraft fees is facing strong opposition from...

BATTLE TESTED: Margaux Morisseau, co-chair of the Rhode Island Coalition for Payday Reform, has been fighting against payday lenders and the lobbyists for years, and she feels the momentum is swinging her group’s way now.  PBN PHOTO/MICHAEL SALERNO

Activists won’t abandon payday lending fight

Economy 09/15/2023

It has not been a lucky year for Georgina Paulino. The Westerly resident’s partner was injured and is out of work. The care of...

DOUBLE CHECKING: Barber Mike McAndrew holds a mirror as customer Rob Verrastro looks at his new haircut at Three Saints Barbershop and Shave Parlor in Jessup, Pa. Small businesses such as this are desperately trying to stay afloat during the coronavirus crisis, but billions of dollars allocated for aid by Congress may be left on the table. / TIMES-TRIBUNE VIA AP FILE/CHRISTOPHER DOLAN

Billions of dollars in small-business aid unclaimed

Coronavirus 07/03/2020

BIllions of dollars offered by Congress as a lifeline to small businesses struggling to survive the pandemic are about to be left on the...

DENIED: Elyse Farnsworth, owner of Arrow Salon in Providence, tried to apply through Bank of America for a Paycheck Protection Program loan but was turned down because she did not have a line of credit with the bank. / PBN PHOTO/MICHAEL SALERNO

Certain businesses left behind in dash for stimulus loans?

Business Services 05/01/2020

Elyse Farnsworth was eagerly awaiting the rollout of the U.S. Small Business Administration’s Paycheck Protection Program. The hair stylist and owner of Arrow Salon LLC...

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