Small Baltimore credit unions to join forces

American Banker

Members of $6.3 million-asset FIAFE Federal Credit Union will vote early next year on whether to merge into $43 million-asset Central Credit Union of Maryland. Credit unions M&A Maryland Growth strategies

Cecil Bank taps Baltimore-area banking veteran as next CEO

American Banker

Bill Knott succeeded Terrie Spiro as leader of the Maryland bank, which raised capital in 2017 by going through a complicated bankruptcy process. Community banking Succession planning Hiring

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Under Armour Wants To ‘Reinvent’ Baltimore, But Not Everyone’s Feeling It

PYMNTS

Kevin Plank, Under Amour’s more than ambitious CEO , is seeking more than $1 billion in local, state and federal funding to rebuild a depressed portion of Baltimore’s waterfront known as Fort Covington. And Baltimore, like many mid-sized American cities, is pretty much broke right now. And Baltimore already has a bunch of sports teams. But Plank has repeatedly made it clear that the company has outgrown its current headquarters in Baltimore.

SBA sets the stage for credit unions to take lead on PPP

New York's State of Mind

COVID-19 Federal Legislation Regulatory Baltimore Ravens DFS PPP Super Bowl Tom BradyThe SBA has issued guidance and regulations in the last three days laying the groundwork for a continuation and expansion of the Paycheck Protection Program. What’s most striking to yours truly is just how much the SBA is establishing a regulatory framework to encourage community-based lenders to take the lead in making these loans, particularly […].

Shore Bancshares Enters Baltimore with Branch Deal

American Banker

has agreed to buy three branches around Baltimore from Northwest Bancshares in Warren, Pa. Shore Bancshares in Easton, Md., breaking_news community-banking md pa dealmaking-strategy

From POS To The Starship Enterprise: Baltimore Stadiums Engaging The IoT Warp Speed Drive

PYMNTS

Provenzano, who oversees operations at M and T Bank Stadium, the home of the National Football League’s Baltimore Ravens, and Oriole Park at Camden Yards, the home of Major League Baseball’s Baltimore Orioles, remembers the first time he saw the IoT make an impact for professional sports and stadiums. Baltimore fans may also be noticing new technology when they visit M and T Bank Stadium this year. Baltimore sports fans – prepare to engage ?

Fraudsters Accused In $364M Ponzi Debt Scheme

PYMNTS

The indictment, which was unsealed on Tuesday (September 18) in a federal court in Baltimore, charged the men with conspiracy, wire fraud, identity theft and money laundering. At least 400 victims in the Baltimore area, Virginia and in Texas were impacted, said Gordon Johnson of the Federal Bureau of Investigation’s Baltimore Field Office. Legal Baltimore Consumer Debt Identity Theft investors money laundering News Ponzi Scheme SEC What's Hot wire fraud

5.9.19 Your morning briefing

Payments Source

Today: PayPal's high on phishing list; San Francisco outlaws no-cash stores; Facebook changes crypto ad policy; Ransomware hits Baltimore. The information you need to start your day, from PaymentsSource and around the Web. Briefing

Blispay Doubles Merchant Network, Plans New Finance Terms

Bank Innovation

The Baltimore-based Read More. Applying for financing or credit cards at the POS at retail giants such as Best Buy is a no-brainer. Small and medium-sized merchants, however, don’t usually have that option. Blispay – launched in March last year – is set to tackle that issue, with a solution aimed at SMEs. Cards Commerce Lending Mobile Payments Startups Technology Blispay POS financing Visa

Farmers and Merchants in Maryland to buy neighboring bank

American Banker

The company will pay $25 million in cash for Carroll Bancorp in a deal between Baltimore-area banks. Community banking M&A Maryland Growth strategies

Blispay Seeks Partnership with Merchant Acquiring Banks

Bank Innovation

Founded in 2014, Baltimore-based Blispay provides point of sale financing for customers of small and medium-sized merchants. EXCLUSIVE — Point of sale financing provider, Blispay is looking at partnerships as its next phase of growth. BlisPay’s CEO, Greg Lisiewski, told Bank Innovation that as the company focuses on scaling itself and adding more merchants to its […]. Cards Exclusive Lending Mobile Payments Uncategorized Blispay Magento Shopify Visa

After poaching M&T exec, Maryland bank plots next moves

American Banker

Howard Bancorp is planning a big push in CRE lending, first in its hometown of Baltimore and eventually in Washington. Strategic buyers CRE Recruiting Maryland

Securityplus to close on Election Day to give workers time to vote

American Banker

The Baltimore institution said it would close on Nov. 3 with the intention that employees use the paid time off to participate in the democratic process. Employee benefits Employee relations Elections Election 2020 Maryland

Sneaker Sales Propel 3Q Surge In Under Armour Earnings

PYMNTS

The Baltimore-based chain also announced the sale of its MyFitnessPal workout platform to private-equity firm Francisco Partners. Sportswear giant Under Armour reported a third-quarter profit of $38.9

BofA defends giving priority to customers in rescue-loan program

American Banker

Bank of America, which came under fire for prioritizing applications from existing small-business customers, asked a federal judge in Baltimore to reject a request in a lawsuit to temporarily bar it from employing the practice. Bank of America Commercial lending Coronavirus Small business lending Paycheck Protection Program

Nordstrom Launches Same-Day Gift Delivery Service

PYMNTS

Customers in Baltimore, Boston, Chicago, Dallas, Los Angeles, New York, Philadelphia, San Francisco, Seattle and Washington, D.C.

Remote Tech Employees Face Pay Cuts In San Fran

PYMNTS

Baltimore follow close behind. Some Silicon Valley companies are suggesting workers who relocate to remote locations should have their pay reduced to reflect their new lower costs of living — and employees are none too happy about it, the Wall Street Journal reports. “In

DoorDash Unveils Latest Growth Strategy: Digital Convenience Stores

PYMNTS

DoorDash said it plans to add more cities in the coming months, including Baltimore, Denver, Sacramento and Concord, California.

Tennessee Election Website Went Offline In Cyberattack

PYMNTS

In March , hackers managed to break into Baltimore’s dispatch system that supports emergency calls. Baltimore CIO Frank Johnson had called the hack a “limited breach,” Reuters reported. Beyond Atlanta and Baltimore, a virus shut down the entire network of a county in Ohio back in 2017. In a distributed denial-of-service (DDoS) attack this week, the website of a county election commission in Tennessee went offline during a mayoral primary.

PayPal Provides $5M In Grants To Support Minority Businesses

PYMNTS

PayPal Holdings Inc. provided $5 million in grants to support Black-owned businesses in the U.S. recovering from the economic impact of COVID-19 pandemic, the company announced Friday (Sept.

Five Things You Should Know By The End of Next Week

New York's State of Mind

Yours truly is off for his yearly vacation to Baltimore. Good morning folks. Yes, I live an exciting life. But first there are a few things I need you to ponder while I go off the grid for a week. Shameless Plug If you are reading this blog and I know you are, then you […]. Compliance Economy General Mortgage Lending CFPB Nominee marijuana banking Mortgage Loans Wells Fargo

ZeroFOX Notches $74M To Tackle Cyberattacks

PYMNTS

With the new funding, the Baltimore, Maryland startup has raised over $150 million. . ZeroFOX was created at the startup incubator Betamore in Baltimore’s Federal Hill neighborhood. By 2016, the startup was ready for a bigger space and moved to the former Pabst Brewing plant in South Baltimore where it onboarded numerous clients, such as Hootsuite, FirstCommand, Hawaii National bank, Umbro and Bath Spa University.

One Food-Ordering App To Rule Them All

PYMNTS

Both Groupon and Grubhub are Chicago-based, although OrderUp calls Baltimore home. Grubhub absorbed 27 of OrderUp’s markets, including Baltimore itself, reported The Baltimore Business Journal. Grubhub isn’t just about hungry people. It’s a hungry brand, gobbling up three different food delivery competitors in the last quarter alone: Boston-based Foodler, Groupon’s OrderUp and most recently, Yelp’s Eat24. The Eat24 deal closed last week on Oct.

Judge Lets Bank Of America Favor SMB Clients With PPP Loans

PYMNTS

District Judge Stephanie Gallagher in Baltimore denied the request for a restraining order against BoA, although she allowed the lawsuit to move forward. A federal judge has ruled that Bank of America (BoA) can prioritize its own customers in distributing loans for the $349 billion Paycheck Protection Program (PPP), according to a Bloomberg report posted by Yahoo Finance.

Private Sector Not Immune To Late Payments Struggle

PYMNTS

Citing financial records, The Baltimore Sun reported last week that $2.1 million worth of unpaid invoices are stuck in the Baltimore Symphony Orchestra’s accounts receivable department. Late payments know no boundaries, and can impact companies of all sizes, industries and geographies — whether in the private or public sector. This week, the late B2B payments struggle wages on in Scotland, Australia and the U.S.

Mosaic Brings Frozen Foods Directly To Consumers

PYMNTS

For now, the service is available in New York City, Philadelphia, Baltimore, Washington, D.C., Mosaic has launched its first line of frozen food products in select east coast cities. Founded by Blue Apron ’s former Senior Directors of Operations Matt Davis and Sam McIntire, Mosaic’s first line of products boasts six vegetarian bowls: the Tuscan Pesto Bowl, the Greek Jackfruit Bowl, the Peanut Tofu Bowl, the Miso Tempeh Bowl, the Harvest Beet Bowl and the Smoky Southwest Bowl.

Target, Walmart Adjust Holiday Delivery Processes As Shipping Crisis Peaks

PYMNTS

The ShipMatrix data shows a decline in on-time delivery by the USPS in the second week of December, validated by local media reports of long lines of trucks waiting at shipping centers, such as this one from WBAL-TV in Baltimore. Ten million packages. Gridlocked.

Even Golfers Aren’t Safe From Ransomware

PYMNTS

Baltimore was also hacked, with criminals able to break into the city’s dispatch system that supports emergency calls. Baltimore CIO Frank Johnson called the hack a “limited breach.”. The Professional Golfers Association (PGA) of America has been hit with ransomware, with cybercriminals demanding a payment in bitcoin to a specific wallet address. According to Cryptovest , the message read, “Your network has been penetrated.

Starbucks Opening Two New Locations To Boost Minority Business

PYMNTS

Starbucks has opened six similar stores so far, including in Ferguson, Missouri, central Phoenix, and East Baltimore. Starbucks announced that it will open stores in Dallas, Texas and Trenton, New Jersey as part of its program to invest in at least 15 underserved communities across the nation by 2018. According to Chain Store Age , the store in Dallas will open in spring 2018, while the one in Trenton will open later this year.

NYC Summit To Tackle Lack Of Influencer Regulation

PYMNTS

University of Baltimore professor of economics and statistics Dr. Robert Cavazos researched the influencer fraud problem and said issues are anticipated with a model like influencer marketing. The first Influencer Fraudnomics Summit in New York City on Tuesday (Sept. 17) will discuss the fraud problem stemming from influencer marketing.

Amazon Shutters London Restaurant Delivery Service

PYMNTS

It is currently available in Baltimore, Tampa, San Jose and Chicago, among others. After two years on the market, Amazon will shut down its restaurant delivery service in London, according to the Evening Standard. The company told customers about the change in an email, saying the service would be discontinued after Dec.

Louisiana School Cyberattacks Trigger State Of Emergency

PYMNTS

Last year, hackers managed to break into Baltimore’s dispatch system that supports emergency calls, which came a week after Atlanta experienced a “ransomware” attack that impacted some city services, such as bill collections and airport Wi-Fi. Louisiana has declared a state of emergency after a series of cyberattacks impacted three of the state’s school districts.

Justice Department, SEC Investigating Under Armour

PYMNTS

Baltimore-based Under Armour is being probed over its accounting practices by the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice, The Wall Street Journal (WSJ) reported on Sunday (Nov. Justice Department prosecutors are conducting a criminal inquiry into the matter while the SEC supervises a civil probe, a source told the WSJ. Under Armour said it is cooperating with investigators.

Lyft Rolls Out Vehicle Partitions In Health Safety Program

PYMNTS

Earlier this month, Lyft began providing partitions to frequent drivers, as well as those in our Express Drive rental program, in Atlanta, Denver and Baltimore. Lyft is giving more drivers plexiglass shields to prevent the spread of germs between the front seat and rear seat areas of cars, the company announced in a blog post Friday (July 17).

Verizon Outfits 13 NFL Stadiums With 5G

PYMNTS

Verizon’s 5G stadiums include those of the Seattle Seahawks, Denver Broncos, Detroit Lions, New England Patriots, Miami Dolphins, Indianapolis Colts, Carolina Panthers, New York Giants and Jets, Baltimore Ravens, Houston Texans and Minnesota Vikings. Verizon has outfitted 13 NFL stadiums with its 5G wireless service, allowing fans to watch demos of multi-angle instant replays.