Category: Banking and Financial Services

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…

WILMINGTON – The three major rating agencies have awarded Delaware a Triple-A credit rating for the 17th time, the highest mark that a state can achieve. “Delawareans expect us to responsibly manage the state’s finances, protect taxpayer dollars, and make smart investments on behalf of the people of our state. These ratings re-affirm our commitment…

WILMINGTON – WSFS Financial Corporation, the parent company of WSFS Bank, today announced a strategic alliance with Social Finance Inc. (SoFi) in conjunction with their recently announced acquisition of Zenbanx Holding, Ltd. (Zenbanx). As part of SoFi’s acquisition of Zenbanx, WSFS has extended its strategic alliance with SoFi and will continue to issue and support…

Attorney General Matt Denn joined the U.S. Department of Justice and 20 other attorneys general in announcing a settlement resolving an investigation into Moody’s Corporation, Moody’s Investors Service, Inc., and Moody’s Analytics, Inc. (collectively “Moody’s”) over the companies’ misrepresentations regarding the independence and objectivity of its ratings of structured finance securities, securities which contributed to…

by Sam Waltz Founding publisher Leveraging their affinity card marketing expertise from credit cards to reloadable prepaid debit cards is a strategy two senior-level Delaware entrepreneurs are using to create a new national, perhaps global, banking company in the State’s suddenly hot FinTech sector. “Charlie Cawley and MBNA did not invent credit cards,” said Jim…

PROVIDENCE, RI – Citizens Bank announced today it will offer digital lending capabilities to small business customers through a collaboration with Fundation Group. The service is expected to be available in mid-2017. The added capability will enable small businesses to apply for loans and lines of credit through a simple online application at citizensbank.com. In…

Bank of America announced today that it has agreed to sell its consumer credit card business in the United Kingdom, MBNA Ltd., to Lloyds Banking Group. The sale completes the transformation of Bank of America’s consumer credit card business from a multi-country, multi-brand business to a single-brand business serving core retail customers in the United…