Category: Banking and Financial Services

Del-One Federal Credit Union, a Dover-based financial institution, announced that its services are now available to Delaware Electric Cooperative members. Sen. Tom Carper and Congresswoman Lisa Blunt Rochester attended a celebration of the partnership at the Del-One Milford Branch on Wednesday. According to Del-One officials, the partnership will create additional opportunities for Delaware Electric Co-Op…

Barclaycard US announced Shelton Shugar today as its new chief information officer. The Delaware-based company is the credit card business of Barclays, the transatlantic consumer, corporate and investment bank. Shugar will manage the company’s technological assets and use them to better serve customers. He brings expertise in cloud computing, product development, and e-commerce, which he developed as…

Panera Bread Company, which has six locations in Delaware, has entered into a merger agreement with JAB Holding Company. JAB has controlling stakes in Krispy Kreme, Keurig Green Mountain, Peet’s Coffee & Tea, and Jimmy Choo, the luxury shoe company. JAB will buy Panera for approximately $7.56 billion and assume approximately $340 million in net…

Santander Consumer USA Holdings, Inc. will pay up to $2.875 million to Delaware consumers for funding bad auto loans. The settlement came after an investigation by the Delaware and Massachusetts attorney general offices into the financing and securitization of sub-prime auto loans. The investigation revealed that Santander had provided loans without evidence consumers could pay…

A team of former executives from leading credit card companies is launching a series of new consumer credit cards under the brand “Ollo.” The newly formed company, Fair Square Financial Holdings, has received an equity commitment to finance card issuance from Wilmington-based Pine Brook, an investment firm focused on building financial services businesses. “Almost a…

By Michael Bradley Chase Cotton has an exercise he used to perform with his University of Delaware students when he taught them about cyber security. He would ask for a show of hands of people who don’t have a lock of sorts on their cellphones. Usually, about “15 to 20 percent” of the students would…

Jeffrey M. Verdon, a California-based attorney who specializes in estate planning, has a message for his clients: Stay clear of Delaware when it comes to starting an asset-protection trust. “Asset protection in Delaware can be a risky venture, and it may be beneficial for individuals and families to look elsewhere to establish asset protection trusts,”…

WILMINGTON – Wilmington Trust, one of the largest trust banks in the U.S., has been appointed trustee for the $2.7 billion Volkswagen Environmental Mitigation Trust. The bank has handled other large-scale cases, including serving as the initial trustee for the Greece debt-restructuring program and chairing the unsecured creditors committees for the Lehman Brothers and General Motors…

By Sam Waltz Founding Publisher Bank of America is listing two of its three downtown headquarters buildings for sale, the Delaware Business Times learned today, having donated a fourth to support the expansion of charter schools in Delaware. However, no headcount reduction is anticipated as a result of the consolidation, and Bank of America’s employment…