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Wednesday, March 20, 2019

Delaware Reinvestment Action Council to manage Money School programs

Two First State financial  nonprofits  are uniting their efforts. The Delaware Financial Literacy Institute (DFLI)  announced that effective, April 1, the Delaware Community Reinvestment Action Council, Inc. (DCRAC) will assume oversight of DFLI’s Money...

WSFS changes name of corporate trust unit

WSFS Bank has organized its corporate trust and institutional solutions under a new name, WSFS Institutional Services.  The corporate trust and institutional services had operated under the Christiana Trust name. WSFS acquired Greenville based Christina  Bank...

Wells Fargo announces redress program after settlement over banking practices

Wells Fargo has launched  a consumer redress review program through which consumers who have not yet been made whole through other remediation programs already in place can seek to have their inquiry or complaint...

WSFS acquisition of Beneficial to close on Friday after Fed approval

WSFS Financial Corporation plans to close the acquisition of Beneficial Bancorp on Friday. The  Board of Governors of the Federal Reserve System Wednesday approved WSFS’ acquisition of Beneficial -  the final required regulatory approval. WSFS expects...

Student lender College Ave gets $65 million credit facility

College Ave  Student Loans, Wilmington, announced it has secured a $65 million credit facility from Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners. The multi-million dollar credit facility provides financial...

Fed governor sees ‘year of transition’ for economy, monetary policy at Lyons-UD forecast

Loretta J. Mester, who heads the Federal Reserve Bank of Cleveland says 2019 is a "year of transition for the economy. Mester says the economy is expected to slow down, but remain solid.  She acknowledged risks...

WSFS, Beneficial merger moves a step closer as regulator OKs deal

WSFS Financial Corporation announced that its primary subsidiary, WSFS Bank, received approval from the Office of the Comptroller of the Currency (OCC) to merge Beneficial Bank, the primary subsidiary of Beneficial Bancorp, Inc., Philadelphia  WSFS and Beneficial expect to close...

Delaware income growth slightly below national average

Income growth in Delaware was slightly below the national average through the third quarter of this year. The Tri-State Tracking report from the Federal Reserve Bank of Philadelphia showed that personal income grew by 3...

New Castle County leads state in purchasing power

New Castle County residents continue to have more purchasing power than residents of Kent and Sussex.  In its second annual study, SmartAsset, a New York financial technology company, considered those metrics to determine the best...

M&T offers account without checking for ‘unbanked customers’

M&T Bank has added a new product to its lineup that makes banking more accessible to these “unbanked” consumers, including those who have been denied a traditional bank account in the past. About eight percent...