Billtrust Expands Presence In Chicago

PYMNTS

Accounts receivable automation firm Billtrust announced that it is expanding its presence in Chicago. Chicago has been an incredible host to Billtrust, and we are thrilled to be growing our team there,” Billtrust CEO Flint Lane said in the announcement. “We’ve

Coinbase Lays Off 30, Shutters Chicago Office

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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

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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.

Uber Freight To Invest $200M To Set Up Shop In Chicago

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Uber Freight has announced that it is investing $200 million to “put down roots” in Chicago. Chicago is consistently at the forefront of innovation, from building America’s foundational transportation systems and its first skyscraper, to fostering world-class universities and research centers.

Chicago restaurant Steak 48 embraces WeChat Pay as Chinese tourists expand mobile platform

Mobile Payments Today

Steak 48, a Chicago-based steakhouse, is embracing mobile wallet applications from China by adding WeChat Pay to the platforms it accepts after previously adding UnionPay

Bank of Chicago CEO Indicted For Bribing Manafort

PYMNTS

Stephen Calk, the founder of the Federal Savings Bank of Chicago, a mortgage lender and a former economic adviser to President Trump’s 2016 campaign, has been charged with bribing Paul Manafort, Trump’s former campaign chairman.

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.

Canada’s Aritzia Opening Second Chicago Location

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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.

Chicago, Mastercard And GCBA Launch Tech Pilot Program

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The program is a pilot that will come at zero cost to Chicago taxpayers. In terms of the tech business in Chicago, it calls itself a “living lab” within which GCBA can explore certain issues. Hany Fam, EVP of Mastercard enterprise partnerships, said Mastercard applauds “the City of Chicago for pioneering a ‘living lab’ – as an optimized interaction between cities and their tech sectors can help drive inclusive growth and a better quality of life.”.

U.S. Bank branch restructuring is underway with closures in Chicago area

Bank Innovation

Bancorp is closing 21 branches in the Chicago area as part of a restructuring plan to expand its physical footprint in some markets while shrinking its presence in others, bank spokesman Evan Lapiska confirmed.

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.

Target Opening Additional Small Stores In NYC And Chicago

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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.

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.

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

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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.

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.

RBB entering Chicago with PGB acquisition

BankThink

Both banks focus on the Chinese-American community. Community banking M&A Growth strategies California Illinois

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.

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.

Chicago-area banks reportedly in merger talks

BankThink

Byline Bancorp is in discussions to buy Parkway Bank and Trust, according to a local publication. Community banking M&A Growth strategies Illinois

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.”.

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

Sageworks to host 2015 Risk Management Summit in Chicago

Abrigio

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

Royal Financial to boost Chicago-area operations with branch deal

BankThink

The company will buy two suburban locations from North Shore Bank. Community banking Branch deals Growth strategies

U.S. Bancorp closing branches in Chicago

BankThink

The regional bank has begun closing branches in Chicagoland as part of a plan to reduce its net number of brick-and-mortar offices by up to 15% even as it looks to expand in the Southeast. Branch banking Consumer banking Regional banks Growth strategies U.S. Bancorp

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?

NAFCU, CUs meet with Chicago Fed

CU Insight

The post NAFCU, CUs meet with Chicago Fed appeared first on CUInsight. Compliance/Regulation Industry News Andrew Morris Charles Evans Curt Long Federal Reserve Bank of Chicago NAFCU

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

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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.

CFPB says Chicago debt collector made bogus threats against consumers

BankThink

Asset Recovery Associates told borrowers that it could sue them, garnish their wages and place liens against their homes, according to a consent order by the consumer bureau. Debt collection Enforcement actions Corporate governance CFPB Illinois

Organizers apply with FDIC to open women-run bank in Chicago

BankThink

FWBank would be led by Marianne Markowitz, former acting SBA director. Amy Fahey, a former JPMorgan Chase executive, would serve as chairman. Community banking Capital De novo institutions WIB scan Illinois

Wintrust continues Chicago suburb expansion with SBC purchase

BankThink

The company agreed to buy the parent of Countryside Bank for $90.5 million. Community banking M&A Growth strategies Illinois

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

Wintrust expands in western Chicago suburbs with STC acquisition

BankThink

The company will pick up five branches as part of the $48 million deal. Community banking M&A Growth strategies Illinois

Verve CU to Acquire Chicago-based Community Bank

Keith Leggett's Credit Union Watch

Crain Chicago Business is reporting that Verve Credit Union (Oshkosh, WI) has entered into a deal to buy South Central Bank (Chicago, IL). While the sales price was not disclosed, Crain Chicago stated that the price was "higher than the going rate of about 1.5 times book value for community banks in Chicago." This is the second Illinois bank to be acquired by an out-of-state credit union in the last 7 months. Verve Credit Union has $986 million in assets.

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.

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.

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.

Boston 145

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