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Philadelphia Mall Owner Takes Care Of Its Own

PYMNTS

The experience of the mall CMBS [commercial mortgage-backed security] from Starwood is certainly symptomatic of the larger narrative,” said Christopher Sullivan, chief investment officer of United Nations Federal Credit Union, as reported in Yahoo! But apparently they’re doing something right in Philadelphia.

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Wells Fargo Loses Contract With City Of Philadelphia

PYMNTS

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

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Philadelphia Union's Jim Curtin is Wrong About Ted Lasso

Jeff For Banks

If you hire weaklings to make you feel better or more secure about yourself, you are limiting your organization. I have seen bank CEOs make poor hires in key positions because they would feel threatened by strong and smart people around them. Lasso did not want to limit his team to support his ego. Because his ego was virtually nonexistent.

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Republic First got a hand up from investors. Is it out of the woods?

American Banker

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.

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PA Fed Pres Says Digital Currency Inevitable, But US Shouldn’t Lead

PYMNTS

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. Advanced cryptography could reduce vulnerability to cyberattacks, but make it easier to hide illegal activity.

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Kount, FreedomPay Join Forces To Offer Payments Platform, Fraud Prevention Package

PYMNTS

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences.

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Prosecutors Target Loosely-Regulated Business Lending Sector

PYMNTS

One business owners said he felt as if he were dealing with an entity almost like “a gangster operation.”.

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