Peter Nigro - Providence Business News

VESTED INTEREST: Gina Lalli, senior loan officer at Shamrock Home Loans, hopes interest-rate cuts will come in 2024 to spur some home sales activity. New mortgage applications in November were 20% lower than they were a year earlier. PBN PHOTO/DAVID HANSEN

Real estate industry ready for some rate cuts

Economic Activity 01/05/2024

While many real estate agents are dream sellers, Gina Lalli, senior loan officer at Shamrock Home Loans in Newport, often has to give buyers...

THE FEDERAL RESERVE recently announced that all 23 of the biggest U.S. banks passed its "stress test," but some say that doesn't mean banks are prepared for an economic crisis. / AP FILE PHOTO/ANDREW HARNIK

Bank ‘stress tests’ by Fed may have overlooked weaknesses in system

Economy 07/14/2023

The 23 largest banks in the U.S. – including Providence-based Citizens Financial Group Inc. – recently passed the Federal Reserve’s “stress test,” but some...

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...

Don’t panic: R.I. business leaders advise caution, planning

Business Services 05/09/2023

PROVIDENCE – Business leaders in Rhode Island are urging caution and careful planning as the nation braces itself for a recession, interest rates continue...

HOME BASE: Recent acquisitions by Citizens Financial Group Inc. have increased its presence in the New York area, but Citizens remains based at its 13-story office building in downtown Providence.  PBN FILE PHOTO/NICOLE DOTZENROD

With acquisitions, Citizens’ focus grows much wider

Financial Services 06/10/2022

Citizens Financial Group Inc.’s headquarters holds a prominent place in downtown Providence. The 13-story building stands guard over the confluence of the Woonasquatucket and...

Bill seeks to prohibit vaccine discrimination in lending, credit access

Financial Services 04/12/2021

PROVIDENCE – Getting on a plane, going to school or landing a job all may at some point require proof of vaccination against COVID-19....

Many businesses can’t meet new PPP guidelines

Coronavirus 02/05/2021

The newly reopened Paycheck Protection Program sought to eliminate logistical hurdles and overly restrictive rules from its prior iteration, but some say it’s still...

STILL GOING STRONG: John Bellone, owner of The Breezeway Resort, The Hotel Maria, pictured, and Maria’s Seaside Cafe in Westerly, says in his 50 years as a customer of The Washington Trust Co., he’s never deferred a loan payment and has continued to meet monthly payments for the mortgages on his commercial properties throughout the pandemic, thanks to a strong business in a limited season. / PBN PHOTO/MICHAEL SALERNO

Banks on higher alert for credit weakness

Coronavirus 01/08/2021

In his 50 years as a customer of The Washington Trust Co., John Bellone has never deferred a loan payment. Not through the 2008...

Fed’s loan program missing mark

Economic Activity 10/16/2020

Across Rhode Island and the country, the Federal Reserve’s Main Street Lending Program has not lived up to its potential. The program sought to help...