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FDIC: Citizens, Bank of America see R.I. deposits decline

PROVIDENCE – Citizens Financial Group Inc. and Bank of America Corp. remain the largest banks in Rhode Island by deposits, but the amount of...
NEW DIGS: Bank Rhode Island recently opened this standalone branch on Oaklawn Avenue in Cranston. 
COURTESY BANK RHODE ISLAND/
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Branching out: In digital age, why are R.I. banks building more...

No one would blame Jack Murphy if he’s feeling a little under siege lately. As CEO and president of BankNewport, Murphy considers Aquidneck Island his...
RHODE ISLAND has the fourth-lowest share of households in the United States that use brick-and-mortar bank branches, according to a report by Upgraded Points LLC. Pictured is a Centreville Bank branch built in Warwick in 2020. / COURTESY CENTREVILLE BANK

Report: R.I. has 4th-lowest share of households in U.S. that use...

PROVIDENCE – Nearly 80% of Rhode Island residents still use brick-and-mortar banks, according to a recent report by Upgraded Points LLC. Upgraded Points provides information...

Billions stored on digital payment apps may be unprotected, CFPB warns

WASHINGTON – The Consumer Financial Protection Bureau has published a consumer advisory on digital payment apps heavily used by consumers and businesses. A CFPB analysis...
COURTESY SWEETGREEN INC.

Most-read stories on PBN.com, April 2023


1. Sweetgreen opens first R.I. location in Cranston POSTED ONLINE: APRIL 18 National restaurant chain Sweetgreen Inc. opened its first Rhode Island location. The...

FDIC recommends overhauling U.S. insurance deposit system 

NEW YORK (AP) – The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring up to $250,000 in bank...

BankRI to open new branches in Newport, Cranston by summer

PROVIDENCE – Bank Rhode Island is planning to expand its footprint in Rhode Island with the opening of two new branches by the coming...
Christopher V. Bilotti

Remove FDIC cap to prevent future panic

We learned the hard way in 1932 that a crisis in confidence, which could be sparked by baseless rumors, could create a bank run...

Troubled Silicon Valley Bank acquired by First Citizens 

NEW YORK (AP) – First Citizens will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a...

Is my money safe? What you need to know about bank...

NEW YORK (AP) – The recent failures of Silicon Valley Bank and Signature Bank, which catered mostly to the tech industry, may have you worried about...
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