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Fair Housing Act Foreclosures Subprime lending Redlining Wells Fargo City of Philadelphia, PA 717893Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting home ownership for low- and moderate-income residents. MORE
has bought the assets of West Capital Management in Philadelphia. WSFS Financial in Wilmington, Del., breaking_news community-banking de pa dealmaking-strategy MORE
12:00 p.m. - 3:00 p.m. Local Host: American Heritage Federal Credit Union. Lunch will be served. Filene Host: Jimese Harkley. Click the arrow below to REGISTER for this event: WHAT IS AN IMPACT ROADSHOW? It’s 90+ minutes of stimulating conversation about CU programs that have the potential to enrich your members’ experience and build a culture of success in your credit union. MORE
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. MORE
In our local area, we are still seeing modest growth in Philadelphia and surrounding counties. Dorothy Jaworski economic update economy financial markets guest post Penn Community Bank Philadelphia economyEconomy and Momentum At the end of June, 2018, the current economic expansion turned nine years old. We have one year to go to match the longest expansion since World War II, which was the prosperous period engineered by Maestro Greenspan from March, 1991 to March, 2001. MORE
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. If you have a bank account, as MORE
95 
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. MORE
Two Philadelphia sports teams, the 76ers and the Philadelphia Flyers, will reportedly provide fans with credits or reimbursements for regular-season games at their shared stadium that go unplayed due to COVID-19, The Philadelphia Tribune reported. As the coronavirus pandemic continues to disrupt normal life the world over, many consumers want refunds on things they paid for but aren’t able to use. MORE
Philadelphia Federal Reserve President Patrick Harker says the mass spikes in coronavirus cases across the U.S. Economy COVID-19 economy News pandemic Patrick Harker Philadelphia Federal Reserve shutdown small business SMBs What's Hotwill likely dampen the economy as well, Reuters reported. Harker said the impact could be twofold in its damage. MORE
Put forth by a consortium of Philadelphia-area advocacy groups and academics, a Regenerator is a kind of public-private partnership that will coordinate available resources and find new ones to help individual businesses survive. “As Retail economy Main Street News Philadelphia recovery regenerators Shop Talk small businesses SMBs MORE
Dorothy Jaworski economic update economy financial markets Penn Community Bank Philadelphia economyHere we are in July already! The markets continue to roll and bond markets continue to trade in a 25 basis point range, hitting the higher end when they think the economy is strong (why else would the Fed raise rates?) and hitting the lower end when the weak economic data smacks them in the face. I usually write with a cautious tone. Many of my economic views contain the word “weak.” MORE
A new Federal Reserve Bank report opens the door for retailer groups to push again for even lower transaction fees by deflating the argument that small banks have been harmed by the Durbin amendment's reduced debit transaction fees for larger banks. retail-acquiring processing legislation debit-prepaid regulation-compliance MORE
While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. Bitcoin B2B Payments bitcoin digital currency digital payments News Philadelphia Federal Reserve Bank U.S MORE
The Philadelphia Federal Reserve’s March Nonmanufacturing Business Outlook Survey showed steep declines Tuesday (March 24) in most data points, with three of them hitting all-time lows. Economy Coronavirus economy News Philadelphia Federal Reserve survey What's HotOne of the first Federal Reserve reports to measure the U.S. economy since the coronavirus pandemic began is pointing to a grim future. MORE
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. MORE
Even churches are closed and the new reality had me watching Easter church services from the Cathedral Basilica in Philadelphia on a website. For most of us here around Philadelphia, the stay at home restrictions began on March 13th, which was Montgomery County‘s date. Dorothy Jaworski economic update financial markets guest post jeff for banks Penn Community Bank Philadelphia economyReaders note: You can also view this post on Penn Community Bank's website. Click here. MORE
He was just in Philadelphia on January 3rd delivering his last public speech and he nostalgically proclaimed that “the recovery remains incomplete,” which will qualify his comment for the understatement of the year award. Our Philadelphia Eagles excited us and made us optimistic that their 2014 will be bright. MORE
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 MORE
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. Retail apparel brick and mortar fashion News Philadelphia What's Hot MORE
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. ” As a result of the branch openings, JPMorgan said it will hire as many as 300 employees for the Philadelphia branches and will put $3 billion for mortgages and small business lending in the area. MORE
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. Now stores will be required “to do what businesses have been doing since Ben Franklin was walking the streets of Philadelphia,” he said. MORE
Dorothy Jaworski economic update financial markets guest post Penn Community Bank Philadelphia economyA Long, Cold December I could just scream! After a lengthy stretch of strong economic growth and stock market gains, the inevitable correction arrived with force in the fourth quarter, culminating with a December that can only be described as “tres terrible!” Stocks of all industries sold off relentlessly in volatile trading sessions featuring price changes of 2% to 3%. MORE
Investors Bancorp in Short Hills, N.J., has agreed to buy Bank of Princeton in Princeton, N.J. breaking_news community-banking m-a nj pa dealmaking-strategy MORE
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. Retailers Compliance Digital payments Cash New Jersey Pennsylvania MORE
Dorothy Jaworski economic update economy First Fed of Bucks County Jeff Marsico Kafafian Group Philadelphia economy Two brutally cold winters in a row! By this time, we have all had enough of the cold, the polar vortex, the snow, the freezing rain, the ice, and the potholes that are left on our roadways to harass and frustrate us. At least we are not in Boston. We need a change of seasons! MORE
The bank said the move will give it more flexibility for raising capital. Capital Community banks Pennsylvania MORE
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. MORE
These conclusions are diametrically opposed to those released jointly just a few months ago by the Chicago and Philadelphia Fed economists, who determined that online lenders serve those who are systemically underserved by traditional financial channels and benefit greatly from their services. Alternative Finances alternative lending chicago fed Federal Reserve of Cleveland News online lenders online lending online loans Philadelphia regulations MORE
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. According to a report in CNBC , the Philadelphia City Council voted Monday (May 1) to switch the company that handles its $2 billion payroll account from Wells Fargo to Citizens Bank for its next fiscal year, which begins in July. MORE
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 …. Lawmakers in Philadelphia have formally said no to cashless payments, passing a ban on stores and establishments that do not accept cash. The Philadelphia measure does have some exceptions. MORE
Dorothy Jaworski economic update economy First Fed of Bucks County First Federal of Bucks County Penn Community Bank Philadelphia economyThe Crisis Begins If your country was in default on its debt, in economic distress, and almost out of cash, would you vote “no” to a potential deal to get out of immediate trouble? Even if it meant spending less money- that you don’t have? None of us would do that, but tell that to the Greeks. MORE
The Philadelphia Federal Reserve’s March Nonmanufacturing Business Outlook Survey showed steep declines Tuesday (March 24) in most data points, with three of them hitting all-time lows. Economy Coronavirus economy News Philadelphia Federal Reserve survey What's HotOne of the first Federal Reserve reports to measure the U.S. economy since the coronavirus pandemic began is pointing to a grim future. MORE
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. MORE
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. MORE
Dorothy Jaworski economic update economy financial markets jeff for banks Penn Community Bank Philadelphia economyFinancial Markets & Economic Update- Third Quarter, 2019 Summer is upon us and I cannot wait to get to the beach for vacation. What an amazing ride it’s been this year for bonds! Interest rates continued their steep decline into the second quarter. Longer-term interest rates are down more than a full 1.00% since their highs last November. GDP was +3.1% MORE
Dorothy Jaworski economic update financial markets guest post Penn Community Bank Philadelphia economyNever Satisfied The markets never seem to be satisfied. The Federal Reserve recently took heed of market and economic messages, ending its tightening campaign and beginning its “patience” campaign. MORE
Philadelphia Related Topics 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. Retail apparel brick and mortar fashion News Philadelphia What's Hot
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. Now stores will be required “to do what businesses have been doing since Ben Franklin was walking the streets of Philadelphia,” he said.
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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
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. According to a report in CNBC , the Philadelphia City Council voted Monday (May 1) to switch the company that handles its $2 billion payroll account from Wells Fargo to Citizens Bank for its next fiscal year, which begins in July.
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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 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. Retailers Compliance Digital payments Cash New Jersey Pennsylvania
|
PYMNTS
MAY 5, 2020
Two Philadelphia sports teams, the 76ers and the Philadelphia Flyers, will reportedly provide fans with credits or reimbursements for regular-season games at their shared stadium that go unplayed due to COVID-19, The Philadelphia Tribune reported. As the coronavirus pandemic continues to disrupt normal life the world over, many consumers want refunds on things they paid for but aren’t able to use.
American Banker
OCTOBER 23, 2020
The bank said the move will give it more flexibility for raising capital. Capital Community banks Pennsylvania
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.
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.
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. ” As a result of the branch openings, JPMorgan said it will hire as many as 300 employees for the Philadelphia branches and will put $3 billion for mortgages and small business lending in the area.
|
American Banker
OCTOBER 17, 2016
has bought the assets of West Capital Management in Philadelphia. WSFS Financial in Wilmington, Del., breaking_news community-banking de pa dealmaking-strategy
Payments Source
MARCH 4, 2016
A new Federal Reserve Bank report opens the door for retailer groups to push again for even lower transaction fees by deflating the argument that small banks have been harmed by the Durbin amendment's reduced debit transaction fees for larger banks. retail-acquiring processing legislation debit-prepaid regulation-compliance
Filene
OCTOBER 19, 2016
12:00 p.m. - 3:00 p.m. Local Host: American Heritage Federal Credit Union. Lunch will be served. Filene Host: Jimese Harkley. Click the arrow below to REGISTER for this event: WHAT IS AN IMPACT ROADSHOW? It’s 90+ minutes of stimulating conversation about CU programs that have the potential to enrich your members’ experience and build a culture of success in your credit union.
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.
PYMNTS
JULY 15, 2020
Philadelphia Federal Reserve President Patrick Harker says the mass spikes in coronavirus cases across the U.S. Economy COVID-19 economy News pandemic Patrick Harker Philadelphia Federal Reserve shutdown small business SMBs What's Hotwill likely dampen the economy as well, Reuters reported. Harker said the impact could be twofold in its damage.
Strategically Speaking
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.
PYMNTS
OCTOBER 3, 2019
While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. Bitcoin B2B Payments bitcoin digital currency digital payments News Philadelphia Federal Reserve Bank U.S
American Banker
MAY 4, 2016
Investors Bancorp in Short Hills, N.J., has agreed to buy Bank of Princeton in Princeton, N.J. breaking_news community-banking m-a nj pa dealmaking-strategy
PYMNTS
MAY 22, 2020
Put forth by a consortium of Philadelphia-area advocacy groups and academics, a Regenerator is a kind of public-private partnership that will coordinate available resources and find new ones to help individual businesses survive. “As Retail economy Main Street News Philadelphia recovery regenerators Shop Talk small businesses SMBs
PYMNTS
MARCH 24, 2020
The Philadelphia Federal Reserve’s March Nonmanufacturing Business Outlook Survey showed steep declines Tuesday (March 24) in most data points, with three of them hitting all-time lows. Economy Coronavirus economy News Philadelphia Federal Reserve survey What's HotOne of the first Federal Reserve reports to measure the U.S. economy since the coronavirus pandemic began is pointing to a grim future.
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 …. Lawmakers in Philadelphia have formally said no to cashless payments, passing a ban on stores and establishments that do not accept cash. The Philadelphia measure does have some exceptions.
PYMNTS
MARCH 24, 2020
The Philadelphia Federal Reserve’s March Nonmanufacturing Business Outlook Survey showed steep declines Tuesday (March 24) in most data points, with three of them hitting all-time lows. Economy Coronavirus economy News Philadelphia Federal Reserve survey What's HotOne of the first Federal Reserve reports to measure the U.S. economy since the coronavirus pandemic began is pointing to a grim future.
Jeff For Banks
JANUARY 18, 2014
He was just in Philadelphia on January 3rd delivering his last public speech and he nostalgically proclaimed that “the recovery remains incomplete,” which will qualify his comment for the understatement of the year award. Our Philadelphia Eagles excited us and made us optimistic that their 2014 will be bright.
Jeff For Banks
MAY 4, 2020
Even churches are closed and the new reality had me watching Easter church services from the Cathedral Basilica in Philadelphia on a website. For most of us here around Philadelphia, the stay at home restrictions began on March 13th, which was Montgomery County‘s date. Dorothy Jaworski economic update financial markets guest post jeff for banks Penn Community Bank Philadelphia economyReaders note: You can also view this post on Penn Community Bank's website. Click here.
Mobile Payments Today
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
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. If you have a bank account, as
PYMNTS
NOVEMBER 14, 2017
These conclusions are diametrically opposed to those released jointly just a few months ago by the Chicago and Philadelphia Fed economists, who determined that online lenders serve those who are systemically underserved by traditional financial channels and benefit greatly from their services. Alternative Finances alternative lending chicago fed Federal Reserve of Cleveland News online lenders online lending online loans Philadelphia regulations
Jeff For Banks
AUGUST 1, 2019
Dorothy Jaworski economic update economy financial markets jeff for banks Penn Community Bank Philadelphia economyFinancial Markets & Economic Update- Third Quarter, 2019 Summer is upon us and I cannot wait to get to the beach for vacation. What an amazing ride it’s been this year for bonds! Interest rates continued their steep decline into the second quarter. Longer-term interest rates are down more than a full 1.00% since their highs last November. GDP was +3.1%
Jeff For Banks
APRIL 27, 2019
Dorothy Jaworski economic update financial markets guest post Penn Community Bank Philadelphia economyNever Satisfied The markets never seem to be satisfied. The Federal Reserve recently took heed of market and economic messages, ending its tightening campaign and beginning its “patience” campaign.
Jeff For Banks
AUGUST 12, 2018
In our local area, we are still seeing modest growth in Philadelphia and surrounding counties. Dorothy Jaworski economic update economy financial markets guest post Penn Community Bank Philadelphia economyEconomy and Momentum At the end of June, 2018, the current economic expansion turned nine years old. We have one year to go to match the longest expansion since World War II, which was the prosperous period engineered by Maestro Greenspan from March, 1991 to March, 2001.
Jeff For Banks
FEBRUARY 1, 2019
Dorothy Jaworski economic update financial markets guest post Penn Community Bank Philadelphia economyA Long, Cold December I could just scream! After a lengthy stretch of strong economic growth and stock market gains, the inevitable correction arrived with force in the fourth quarter, culminating with a December that can only be described as “tres terrible!” Stocks of all industries sold off relentlessly in volatile trading sessions featuring price changes of 2% to 3%.
Jeff For Banks
JULY 24, 2015
Dorothy Jaworski economic update economy First Fed of Bucks County First Federal of Bucks County Penn Community Bank Philadelphia economyThe Crisis Begins If your country was in default on its debt, in economic distress, and almost out of cash, would you vote “no” to a potential deal to get out of immediate trouble? Even if it meant spending less money- that you don’t have? None of us would do that, but tell that to the Greeks.
Jeff For Banks
JULY 8, 2017
Dorothy Jaworski economic update economy financial markets Penn Community Bank Philadelphia economyHere we are in July already! The markets continue to roll and bond markets continue to trade in a 25 basis point range, hitting the higher end when they think the economy is strong (why else would the Fed raise rates?) and hitting the lower end when the weak economic data smacks them in the face. I usually write with a cautious tone. Many of my economic views contain the word “weak.”
Jeff For Banks
APRIL 10, 2015
Dorothy Jaworski economic update economy First Fed of Bucks County Jeff Marsico Kafafian Group Philadelphia economy Two brutally cold winters in a row! By this time, we have all had enough of the cold, the polar vortex, the snow, the freezing rain, the ice, and the potholes that are left on our roadways to harass and frustrate us. At least we are not in Boston. We need a change of seasons!
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