Coinbase Lays Off 30, Shutters Chicago Office

PYMNTS

Digital currency exchange Coinbase has shuttered its Chicago office and laid off 30 engineers, according to a report in Fortune. We have made the difficult decision to consolidate the matching engine efforts and thus wind down the matching engine team in Chicago.

Dozens Of Car2go Mercedes Stolen In Chicago Area

PYMNTS

Daimler’s car-sharing service car2go was shut down temporarily Thursday (April 18) in Chicago after a slew of Mercedes-Benz cars were stolen by using the app. The Chicago Police Department confirmed the theft and said the investigation was continuing.

Tech Center: Chicago On Deck

PYMNTS

Chicago is more than just the place the Chicago Cubs and Bulls call home. Bubbling under the surface of Chicago lies an up-and-coming tech center. Given that many large cities in the United States have increasingly become places for tech startups, it’s natural to see Chicago as one of the next tech centers. Before we jump into the post, here are a few quick facts about Chicago and its tech scene: . Chicago’s population is 2,720,546 (2015).

Amazon Go Debuts In Chicago

PYMNTS

According to Venture Beat , the Chicago store is located at 113 S. Amazon Go has launched another store, this time in the Windy City. Franklin Street, and offers standard convenience store fare that includes breakfast, lunch and dinner meal kits and hot food. The location will only be open on weekdays from 7 a.m. to 8 p.m. This is the fourth Go store and the first to open outside of Amazon’s hometown of Seattle.

A Slew Of Car2go Mercedes Stolen In The Chicago Area

PYMNTS

Daimler’s car-sharing service Car2go was shut down temporarily Thursday (April 18) in Chicago after a slew of Mercedes-Benz cars were stolen by using the app. TechCrunch reported the Chicago Police Department confirmed the crime and said the investigation was continuing.

Canada’s Aritzia Opening Second Chicago Location

PYMNTS

is expanding in Chicago as it targets both brick-and-mortar and online expansion. According to Chain Store Age , the fashion retailer will open a flagship on Rush Street in Chicago this fall. ” Retail Aritzia canada Chicago fashion fashion retailer usCanada’s Aritzia Inc. The Vancouver, British Columbia–based company already operates a store in the Windy City, at Water Tower Place.

‘Game Of Thrones’ Is Coming — To A Bar In Chicago

PYMNTS

But for Replay Lincoln Park , a popular arcade-bar in Chicago, the forthcoming eighth and final season of “Game of Thrones” is more than an opportunity to sell some Arbor Gold and Fire & Blood beer (the officially licensed “Game of Thrones” beers brewed by Ommegang Brewery). “Game of Thrones” has no difficulty driving viewership. HBO’s sprawling epic fantasy series started out with a relatively small audience when it premiered in April of 2011 — about 2.2.

Target Opening Additional Small Stores In NYC And Chicago

PYMNTS

Target has announced it is opening additional small-scale stores in New York City (NYC) and Chicago. In 2016, the company announced it had opened 23 “flex-format” stores — smaller stores less than 50,000 square feet designed for urban shoppers — in metro areas like Chicago, Philadelphia and Berkeley, California. In addition, another small-format store in Chicago’s Wicker Park neighborhood will open this summer.

Chicago Developer Tries To Lure Amazon With Its Own Stadium

PYMNTS

Sterling Bay, a Chicago developer, is throwing in a sports and concert stadium into its proposal for Amazon’s second U.S. According to a news report in the Chicago Tribune , the developer’s Lincoln Yards project includes the ability for Amazon to have a stadium at its headquarters. The city asked us for our boldest ideas on Amazon’s HQ2, and that’s what we did at Lincoln Yards,” Sterling Bay managing principal Andy Gloor said in an email to the Chicago Tribune.

Amazon Go To Expand To San Francisco And Chicago

PYMNTS

The Amazon Go store is getting ready to expand into San Francisco and Chicago. We plan to open Amazon Go in Chicago and San Francisco,” said an Amazon spokesperson, who didn’t have information about other cities where the store might launch. The first cashierless Amazon Go store opened in January in Seattle after being in development for five years. It’s located on the ground floor of the eCommerce giant’s new headquarters.

Chicago Trader Charged With Crypto Theft

PYMNTS

Marking the first prosecution in Chicago of theft in the cryptocurrency industry, a trader with a financial firm was charged with fraud. Joseph Kim allegedly misappropriated $2 million in bitcoin and litecoin, the United States Department of Justice said in a press release. Kim had worked for Consolidated Trading LLC, which recently formed a cryptocurrency group.

Wells Fargo Shut Out Of Illinois Bond Business; Chicago May Follow Suit

PYMNTS

Meanwhile, the Chicago City Council is gearing up to consider a moratorium on doing any bond-related business with Wells Fargo as well. Banking Chicago fake account scandal Illinois News wells fargo What's HotThe Wells Fargo fake account scandal has resulted in more fallout for the beleaguered bank — this time, with Illinois announcing a ban on bond and investment work with Wells Fargo.

Meijer To Offer Self-Scanning Mobile App In Chicago

PYMNTS

As grocers ramp up their digital offerings, Meijer is gearing up to launch a self-scanning mobile app in the Chicago area that allows shoppers to scan their purchases throughout the store and check out at a dedicated counter. But shoppers will still have the option of a traditional checkout experience, The Chicago Tribune reported. Meijer Spokesman Frank Guglielmi told The Chicago Tribune , “We want our shoppers to shop the store the way they want.”.

Amazon Opening Up Physical Store In Chicago

PYMNTS

Amazon is dominating in the eCommerce world, but that doesn’t mean it doesn’t see value in physical store fronts, with the eCommerce retailer gearing up to open up an offline store in Chicago’s Lakeview neighborhood. In a report by Chicago Tribune , Amazon spokeswoman Deborah Bass confirmed in an email it is bringing an offline bookstore, dubbed Amazon Books, to Southport in Chicago.

Verizon Activates 5G In Chicago And Minneapolis, More Cities To Follow This Year

PYMNTS

Verizon has activated its 5G wireless network in Chicago and Minneapolis, the company announced on Wednesday (April 3), and it plans to roll it out to 30 more markets by the end of the year, according to a report by CNBC. The company won’t see revenue from the new network until 2021, Verizon CEO Hans Vestberg said. The 5G network will be a complement to “5G Home,” which is Verizon’s wireless alternative to cable.

Sageworks to host 2015 Risk Management Summit in Chicago

Sageworks

Bank and credit union executives and leading industry experts will convene September 23-25 in Chicago, Illinois, for the premier banking conference covering the ALLL and stress testing.

Will Chicago Be The Next City To Say Bye-Bye To Uber And Lyft?

PYMNTS

A vote in Chicago this week could decide if Uber and Lyft will continue to operate there, as the vote from the full city council will determine whether or not ride-sharing firms will have to comply with the same types of regulations city-licensed taxi drivers are forced to. The so-called “Rideshare Reform” rules have already passed a subcommittee of the Chicago City Council as of Friday, with the full vote scheduled for tomorrow. Retail Chicago Lyft Uber

Exclusive Interview With Jason Henrichs, Co-Founder of FinTEx Chicago

Let's Talk Payments

The more people you meet from the Chicago FinTech scene, the more it draws you in. I really enjoyed my conversation with Jason Henrichs who is involved with a lot. Fintech Insights insights US

Sephora’s High-Tech Chicago Outpost

PYMNTS

Sephora is expanding its Beauty TIP Workshop store format to Chicago — with some fancy new high tech flourishes added. Considering that the new Chicago location features some 13,000 products to play with in their interactive environment — actually a lot. The beauty brand currently has similar locations in Boston, San Francisco and Toronto.

Impact Roadshow | Chicago, IL

Filene

10:00 a.m. - 12:00 p.m. Local Host: Illinois Credit Union League. Filene Host: Brenton Peck. Click the arrow below to REGISTER for this event: WHAT IS AN IMPACT ROADSHOW?

Impact Roadshow | Chicago, IL

Filene

Due to the weather, this event has been cancelled. 1:00 p.m. - 3:00 p.m. Local Host: Alliant Credit Union. Filene Host: Cortney Angeley. WHAT IS AN IMPACT ROADSHOW?

Retail Pulse: Google Mulls Chicago Flagship; Sam’s Club Repurposed For eCommerce

PYMNTS

The company is reportedly looking to bring a two-story flagship store to the Windy City, according to the Chicago Tribune. In the past, the Chicago Tribune noted that retail and technology experts had thought Google would build stores to create a place to highlight its electronics. Sam’s Club plans to convert a former store outside of Chicago into a fulfillment center for eCommerce orders.

Why A Chicago Startup Is Tying Its Future To Physical Retail

PYMNTS

And adapting to those evolutions – and following them through, ” The Tie Bar CEO Allyson Lewis noted in an interview Lewis is how the eCommerce Tie Bar brand made a full migration to permanent physical stores — now up and running in Boston, Chicago and New York. “We’ve Brick-and-mortar retail oftentimes gets a bad rap in 2018. It’s not wholly undeserved, of course.

Sprig Stops Food Delivery To Chicago, Begins Laying Off Staff

PYMNTS

Sprig , the mobile app that allows customers to find and order “delicious meals” made with “honest ingredients” that can be delivered to their doorstep quickly, is changing up its delivery model and pausing operations in Chicago, according to TechCrunch. As part of this reorganization, Sprig will be laying off seven employees in its marketing and operations team; Sprig has also let go of its local drivers and kitchen staff in Chicago.

Rinse Clothing Service Raises $14M To Expand To Boston, Chicago And Beyond

PYMNTS

Rinse has a solution for both, and thanks to a $14 million Series B funding round led by Partech, it’s taking that solution to two new cities: Boston and Chicago. Including Boston and Chicago, which could see service as soon as the end of summer, Rinse has plans to expand into 10 new cities in the immediate future and eventually to go nationwide. The dry cleaning industry isn’t working. Customers feel it, vendors feel it— but both parties need it to work.

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Why Chicago frustrates bankers

BankThink

Rising taxes, declining population and the political landscape in Illinois have led several bankers to put more money and resources into nearby states. Community banking Regional banks Capital Illinois Indiana Wisconsin

Making The Case For Cash In Unattended Retail

PYMNTS

Unattended retailers may want to look to the city of Chicago, where cash-friendly kiosks have been handling high-value utility bills, parking tickets and other payments since 2007.

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Fifth Third ramps up small-business lending in Chicago

BankThink

The bank is pledging to lend another $2 billion in a market where it has invested $3.6 billion in various community development initiatives since 2016. Most of the new funds will be used to make loans to small businesses that operate in low- and moderate-income neighborhoods. Small business Small business lending Corporate philanthropy M&A Fifth Third Bancorp

Midland States expands south of Chicago with HomeStar purchase

BankThink

The Illinois company will pay about $10 million, and redeem $23.5 million in trust-preferred stock, as part of the deal. Community banking M&A Preferred stocks Capital Illinois

MB Financial in Chicago Adds IT Specialist to Board

American Banker

MB Financial in Chicago has appointed an executive from an advanced analytics company to its board. The $19 billion-asset company said in a press release Thursday that Sunil "Sonny" Garg is the energy solutions leader at Uptake. breaking_news bank-technology people corporate-governance il community-banking

Is the Chicago Taxi Industry on the Verge of Collapse?

Keith Leggett's Credit Union Watch

USA Today is reporting that ride-sharing companies are pushing the Chicago taxi industry to the brink of extinction. According to the story, approximately 42 percent of Chicago's taxi fleet was idle during the month of March 2017. This is not good news for credit unions that are holding Chicago taxi medallion loans. Average monthly income per active medallion fell from $5,276 in January 2014 to $3,206 this year.

Chicago's Federal Savings Purchases ICC Mortgage Services

American Banker

Federal Savings Bank in Chicago has acquired the assets of ICC Mortgage Services in Westbury, N.Y. breaking_news community-banking consumer-finance dealmaking-strategy

Fifth Third ups CRA pledge by $2 billion amid Chicago expansion

BankThink

The pledge comes as Fifth Third, which had previously committed $30 billion to community development, looks to close on its acquisition of MB Financial in Chicago. CRA Corporate philanthropy Mortgages Small business Fifth Third Bancorp

Regulator Suspends Operations of Tiny Chicago CU for 60 Days

Keith Leggett's Credit Union Watch

Elizabeth's Credit Union (Chicago, IL) for 60 days in an order issued on August 9. The Illinois Division of Financial Institutions suspended the operations of St. The Division of Financial Institutions found that the credit union was in danger of insolvency. The order noted there were serious financial and management deficiencies at the credit union and that the true financial condition of the credit union could not be ascertained.

PLI 24th Annual Consumer Financial Services Institute, Chicago session – 25% discount available

CFPB Monitor

The second presentation of PLI’s 24th Annual Consumer Financial Services Institute will take place in Chicago on May 20-21, 2019. I am very pleased that the Chicago program will feature the following attorneys from these agencies: Thomas Pahl, CFPB, Policy Associate Director, Division of Research, Markets & Regulations.

Harrison Steans remembered for decades of leadership in Chicago banking

BankThink

Steans, a former LaSalle Bank chairman who also led the financial crisis recapitalization that saved Taylor Capital, died on Tuesday. He was 83. Community banking Capital Growth strategies Illinois

First Midwest Bancorp in Chicago taps new president

BankThink

Mark Sander, who has been with the company since 2011, succeeded Michael Schudder, who remains chairman and CEO. Community banking C-suite Career advancement Succession planning Illinois

Gonzo Goes to BAI Retail Delivery 2014: Sweet Home Chicago?

Gonzobanker

To Chicago’s Ristorante Volare, which greeted a few thirsty GonzoBanker readers with a champagne bucket full of Bud. The gloomy overcast ride from O’Hare followed the crushing Bears loss to the Packers, so BAI had to distract us with something provoking.

Bitcoin futures trading starts on CBOE exchange in Chicago

The Paypers

(The Paypers) On December, 10, Bitcoin begun trading on the CBOE futures exchange in Chicago at 23:00 GMT, according to BBC

American Eagle Bank Of Chicago Adds 14-Month CD (2.75% APY)

Deposit Accounts

Offers & Promotions American Eagle Bank of Chicago Bank Information Page | Receive Alerts for this Bank. American Eagle Bank of Chicago (AEBC) recently added a 14-month New Money Step CD earning 2.75% APY. AEB has a single branch in South Elgin, about 35 miles from Chicago.

Amazon Opening Package Pickup Spot At Chicago’s University Of Illinois

PYMNTS

15) that it has entered into an agreement with the University of Illinois at Chicago to open a package pickup location inside the student center on the UIC campus, Amazon said in a press release. Amazon announced on Monday (Aug. The center, called Amazon@UIC, will be a staffed package pickup location where students, faculty and staff can pick up and return Amazon orders. The 2,300-square-foot Amazon@UIC is expected to open later this year. “We

Rooam buying Tally to bring bar-tab payment app to Chicago

Payments Source

the company has agreed to acquire a similar payment app provider to pave the way for its launch in Chicago. After Rooam's initial launch of its nightlife payment app in its home base of Washington, D.C., Mobile wallets M&A

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Why There Are IT Outages – And What to Do About Them?

Dataconomy

BI & Analytics Cybersecurity Featured Technology & IT Continuity Software Iris Zarecki IT Infrastructure IT outage University of ChicagoWhat do fat fingers, power failures, and Godzilla have in common?