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Big-bank CEOs warn that new regulations could harm the economy

NEW YORK (AP) – The heads of Wall Street's biggest banks used an appearance on Capitol Hill to plead with senators to stop the...
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

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...
STILL STANDING: 
There is vacant office space in downtown Providence, but people in the local commercial real estate sector say landlords and banks haven’t reached a crisis level as others have nationwide. 
PBN PHOTO/­MICHAEL SALERNO

SHAKY GROUND: Distressed office real estate could undermine banks, wider economy

The former mayor of Providence is distressed. When Joseph R. Paolino Jr. walks through the city’s financial district, he’s anxious about what he sees. He...
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?

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...

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...

A key inflation gauge tracked by the Fed slowed in February 

WASHINGTON (AP) – The Federal Reserve's favored inflation gauge slowed sharply last month, an encouraging sign in the Fed's yearlong effort to cool price...
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...

U.S. consumer confidence ticks up in March 

WASHINGTON (AP) – Consumer confidence inched up in March after two straight monthly declines, even as persistent inflation, bank collapses and anxiety over a...

Five Questions With: Michael Ice

Michael Ice is an associate teaching professor at the University of Rhode Island’s College of Business Administration with more than 30 years of experience...

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...
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