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Thursday, February 21, 2019

WSFS reports sharp increase in earnings for 4th quarter, year

 WSFS Financial Corporation, Wilmington, reported fourth-quarter  net income of $29.7 million compared to a net loss of $9.8 million for the same quarter in  2017 and net income of $38.9 million for the third quarter of 2018. Net...

Navient seeks partial dismissal of lawsuit over loan forbearance practices

Wilmington-based student loan servicing firm Navient is seeking a partial summary judgment in a case involving its practices with  borrowers  struggling to make payments.. Gaining the judgment would dismiss some but not all charges in...

M&T to assist customers affected by federal government shutdown

M&T Bank  announced it is taking the following steps to assist people affected by the partial federal shutdown, which has gone on for a record 21 years. Consumer banking & lending Impacted customers will be...

Moody’s puts negative outlook rating on River & Bay debt after NJ governor vetoes...

The debt-rating firm, Moody’s, has placed a negative credit outlook for the Delaware River and Bay Authority after New Jersey Gov. Phil Murphy vetoed a toll increase. Moody’s noted that the scheduled toll increase for all...

Fiserv to acquire First Data in $22 billion deal

Financial technology firms Fiserv and First Data  will combine under the Fiserv name in a $22 billion buyout. First Data has operations in Delaware on Carr Road in north Wilmington that serve the state’s massive...

DowDuPont, Bank of America on list of top corporate citizens

DowDuPont and other companies with a presence in Delaware were named to a list of the top companies in the Just 100 list. The list from the Forbes magazine and website lists based on measures of...

PNC to acquire investment banking firm

PNC Bank  announced a definitive agreement to acquire Ambassador Financial Group, Inc., a provider of balance sheet management, investment banking and capital markets services to banks, insurance companies, and other financial institutions.  The company has...

Wells Fargo agrees to pay $2 million to Delaware in 50-state settlement

Delaware customers will get about $2 million from Wells Fargo in a 50-state  settlement over allegations of unneeded insurance for auto loans and accounts being opened without customer authorization. The agreement also calls for measures...

State insurance chief OKs China company’s acquisition of long-term care insurer

In a case that drew national attention, State Insurance Commissioner  Trinidad Navarro gave final regulatory approval  to China Oceanwide Holdings Group Co. Ltd to acquire Genworth Life Insurance Company. The Virginia company with an insurance...

U.S. Attorney for Delaware says prison time for Wilmington Trust former execs is ...

U.S. Attorney for Delaware David Weiss stated that two former Wilmington Trust executives. Robert Harra, former president of Wilmington Trust and David Gibson, chief financial officer, deserved prison time. Both received six-year sentences,  with further...