RHODE ISLAND ANNOUNCES DEPOSITOR RELIEF PLAN
PROVIDENCE, R.I. — Gov. Bruce Sundlun (D) announced a package of measures designed to help businesses survive the state's banking crisis. Governor Sundlun said the state would soon allow businesses limited access to their checking accounts at 16 credit unions and banks that have been closed; forgive some interest and penalties on late payment of business taxes due this month; and allow businesses to postpone the payment of fees for some business licenses.
Closed banks and credit unions have about 10 days to sign up for a state plan to rescue depositors or propose a viable alternative that would allow them to reopen, according to the governor's top aides.