Fed banks analyze consumer use of card promos
Payments Dive
MARCH 20, 2024
New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.
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Payments Dive
MARCH 20, 2024
New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.
PYMNTS
MARCH 7, 2019
Lawmakers in Philadelphia have passed a ban on cashless stores, making it the first major city in the U.S. The politician who introduced the bill, Philadelphia City Councilman William Greenlee, said he thinks the general move toward a cashless city is discriminatory toward lower income individuals and other marginalized populations.
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PYMNTS
SEPTEMBER 22, 2020
But apparently they’re doing something right in Philadelphia. The Philadelphia Real Estate Investment Trust (PREIT) owns 17 malls surrounding the New York-New Jersey-Pennsylvania corridor, with a smattering of properties near Detroit and Washington, DC.
PYMNTS
SEPTEMBER 22, 2020
In today’s top retail news, Philadelphia Real Estate Trust reopens its newest property, Ralph Lauren cuts its workforce and Mall of America offers space to local businesses. Philadelphia Mall Owner Takes Care Of Its Own.
Payments Dive
FEBRUARY 23, 2024
Consumers facing financial hardships turned to buy now, pay later services more last year than stable consumers, according to survey results from the Philadelphia Federal Reserve Bank.
PYMNTS
SEPTEMBER 14, 2020
Fashion District Philadelphia garnered more than 70 tenants and an average of nearly 700,000 visitors per open month in its first year, according to a Monday (Sept. 14) announcement.
PYMNTS
MAY 3, 2017
Wells Fargo is trying to move beyond its fake account scandal, but that’s not happening at least in the city of Philadelphia, where the embattled bank lost a big government contract. Officials in the city of Philadelphia said the move to switch payroll providers wasn’t due directly to the scandal, although it did play some role. “We
Payments Dive
SEPTEMBER 18, 2023
Researchers with the Philadelphia Fed’s Consumer Finance Institute also discovered a typical BNPL user’s credit score was more than 50 points lower than a non-user's.
PYMNTS
SEPTEMBER 24, 2018
CNBC, citing an interview JPMorgan Chase Chief Executive Jamie Dimon had with Jim Cramer on Squawk Alley, reported the company is gearing up to open 50 new branches in Philadelphia, Delaware and southern New Jersey during the course of the next five years. in an effort to strengthen its retail business. .”
Payments Dive
SEPTEMBER 11, 2023
The Federal Reserve’s vice chair for supervision spoke about “responsible innovation” Friday at a Philadelphia Fed fintech conference.
Payments Source
FEBRUARY 5, 2019
The pushback on stores that don’t accept cash seems to be gaining momentum, with Philadelphia the latest municipality to consider a law that would ban cash-free shops.
CFPB Monitor
APRIL 29, 2019
The CFPB has announced that it will hold a Town Hall to take place in Philadelphia, Pennsylvania beginning at Noon on May 8, 2019. The event will feature remarks from Director Kraninger as well as comments from community groups, industry representatives, and members of the public.
Jeff For Banks
MARCH 5, 2023
Ted Lasso is a fictious coach for a fictitious 2nd division English football (soccer) league. So why was the reigning U.S. soccer league (Major League Soccer-MLS) coach of the year dissing on him? Jim Curtin is a candidate for the U.S. men's national soccer team (USMNT). And he was asked about Lasso in an interview. The context was that U.S.
American Banker
FEBRUARY 29, 2024
Citing missed deadlines for an annual meeting and key regulatory filing, the Norcross-Braca group has called off a plan to invest $35 million in the Philadelphia bank.
American Banker
DECEMBER 16, 2019
Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting home ownership for low- and moderate-income residents.
American Banker
JULY 6, 2023
Under a written agreement, Quontic pledged not to distribute capital without the permission of its regulators. It's the third enforcement action in five years against the small New York-based bank.
Jack Henry
OCTOBER 15, 2020
The US banking industry has been a vital part of our nation all the way back to 1780 when the Bank of Pennsylvania was founded by Philadelphia merchants to fund the American Revolutionary War.
Payments Dive
AUGUST 24, 2017
That question was the focus of a breakout session Tuesday at the fourth annual CONNECT Mobile CX Summit in Philadelphia. The answer is complicated, which is usually the case with emerging technology options.
American Banker
SEPTEMBER 23, 2016
In an announcement Friday afternoon, Philadelphia Federal Reserve Bank President Patrick Harker said his regional bank is launching an "Agenda on Poverty and Prosperity" to provide research and recommendations to Fed leaders on the interaction between poverty and economic growth.
American Banker
JULY 7, 2023
The acquisition of Malvern Bancorp, expected to close this month, would hasten First Bank's efforts to further fortify its footprint stretching from Philadelphia to New York City.
American Banker
DECEMBER 22, 2022
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American Banker
JUNE 1, 2023
An activist investor blasted the appointment of Andrew Cohen, saying he has long served on the Philadelphia bank's board and shares responsibility for its financial troubles.
PYMNTS
MARCH 19, 2019
Philadelphia recently became the first major city to pass a ban on cashless shops; New York, San Francisco, Chicago and Washington are reportedly considering passing similar legislation. The Philadelphia law takes effect in July and will also require most retail outlets to accept physical currency.
Matt Wilcox Pro
MARCH 18, 2019
As of July 1, cashless stores and restaurants in Philadelphia will be no more. Outside of a few exceptions such as parking lots, hotels, and car rental agencies, the Philadelphia City Council has deemed cashless businesses discriminatory. Existing cashless businesses will not be grandfathered but required to revert.
PYMNTS
MARCH 11, 2019
That was on display this week in payments and commerce, as cashless jumped forward in Atlanta with a big partnership, only to get the cold shoulder in Philadelphia where it is now banned by law. The city of Philadelphia certainly worried it is …. The Philadelphia measure does have some exceptions.
American Banker
OCTOBER 17, 2016
has bought the assets of West Capital Management in Philadelphia. WSFS Financial in Wilmington, Del.,
Payments Source
JANUARY 10, 2021
The Mint’s facilities in Denver and Philadelphia worked overtime in the second half of 2020 so that banks and retailers could get more change into customers’ hands.
American Banker
SEPTEMBER 28, 2023
A proposed settlement between the Philadelphia-based community bank and an activist investor group that has waged a nearly two-year battle for control also calls for overhauling the board of directors.
American Banker
FEBRUARY 24, 2021
The founder of Commerce Bank in New Jersey and Metro Bank in the United Kingdom has served as Republic First's chairman since 2016.
PYMNTS
AUGUST 17, 2020
A Philadelphia-based mall owner is taking a proactive approach to the digital shift and back-to-school shopping. PREIT (Philadelphia Real Estate Investment Trust) is curating its first eCommerce offering in what it says is a unique avenue to engage consumers from a multi-retail perspective.
BankDeals
APRIL 1, 2021
Tioga-Franklin Savings Bank offers its competitive Kasasa Cash, Kasasa Cash Back, and Kasasa Savers accounts in the greater Philadelphia metro area.
American Banker
DECEMBER 10, 2021
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PYMNTS
JULY 15, 2020
Philadelphia Federal Reserve President Patrick Harker says the mass spikes in coronavirus cases across the U.S. will likely dampen the economy as well, Reuters reported. Harker said the impact could be twofold in its damage.
American Banker
JANUARY 11, 2021
The Mint’s facilities in Denver and Philadelphia worked overtime in the second half of 2020 so that banks and retailers could get more change into customers’ hands.
American Banker
AUGUST 22, 2023
News of the delisting, prompted by ongoing delays related to filing its 2022 annual report, triggered a selloff of the Philadelphia-based company's battered stock.
PYMNTS
MARCH 21, 2019
San Francisco is considering following in the footsteps of New Jersey and Philadelphia and banning cashless stores, including Amazon Go, according to a report from CNBC. Many lawmakers say cashless stores are discriminatory toward lower-income individuals, as well as those without bank accounts or credit cards.
American Banker
JULY 2, 2023
Investors will get the chance to fill three director seats at the Philadelphia company, which last held an annual meeting in April 2021 and has been embroiled in a legal fight with a shareholder group.
Bank Innovation
MARCH 8, 2016
The Philadelphia-based company announced yesterday it would acquire CardConnect, a payments processing platform. FinTech Acquisition Corp., created to acquire a fintech company, has fulfilled its mission. Terms of the deal were not disclosed. FinTech Acquisition Corp. had Read More.
American Banker
OCTOBER 31, 2023
A $35 million capital bump from a once-hostile investor group may have helped the Philadelphia bank avoid collapse. Still, it reported $30 million of quarterly operating losses and heavy securities risk in a recently filed call report.
PYMNTS
JANUARY 2, 2020
12: Number of additional stores that Anchor Shops hopes to build in the Philadelphia and New Jersey region. Data: 2020: The year that Anchor Shops, with a retail store and a fulfillment center, is set to open. 80 percent: Estimated CAGR of real-time payment growth in higher education between 2018 and 2022.
Jeff For Banks
APRIL 6, 2021
"In case you're looking for some light reading this weekend, FRB-Philadelphia working paper 21-08, Does CFPB Oversight Crimp Credit?" ~ Robert Morro (@bmorro44) So went a tweet from one of my Twitter connections. So I listened to him, and dialed up the FRB-Philadelphia WP 21-08. And modify their approach. One can hope.
PYMNTS
MARCH 22, 2020
The Fed doesn’t currently think that the virus will be worsened by the transmission and trading-hands of dollars, Joey Lee, spokesperson for the Federal Reserve Bank of Philadelphia, said, pointing to recent Centers for Disease Control and Prevention (CDC) findings.
PYMNTS
DECEMBER 18, 2020
Customers in Baltimore, Boston, Chicago, Dallas, Los Angeles, New York, Philadelphia, San Francisco, Seattle and Washington, D.C. Customers can have digital orders delivered or picked up curbside, or can have merchandise rush-shipped or delivered to a store. Same-day delivery is available in the NYC area for orders placed by 4 p.m.,
PYMNTS
MARCH 23, 2020
Six years of alleged fraud saw one payroll firm accused of stealing millions of dollars , according to The Philadelphia Inquirer. has been accused by federal prosecutors of “one of the most extreme abuses of trust,” allegedly stealing from small businesses, corporates and nonprofits between 2009 and 2015 in the Philadelphia area.
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