Category: Banking and Financial Services

WSFS Financial Corp. has agreed to pay $85,265 to the National Flood Insurance Program as part of its efforts to address a violation of the Flood Disaster Protection Act. The bank did not have a process in place to provide timely notification of loan servicers’ identities to insurance providers when loans are transferred or sold…

Chase CEO tours Zip Code Wilmington, meets employees, and has lunch at Stitch House

JPMorgan Chase CEO Jamie Dimon visited Wilmington today (Aug. 5) to tour Zip Code Wilmington ; have lunch at the Stitch House Brewery, whose $400,000 financing support from True Access Capital includes a $50,000 grant from a Chase-funded community revitalization fund; and meet with many of Chase’s 11,000 employees in Delaware – many of them…

True Access Capital moves forward after rebranding

Earlier this year, the First State Community Loan Fund took a hard look at itself and decided to rebrand. That process, conducted with NuPOINT Marketing, found: Products and services were not linked to the brand; rather they grew up around the brand. There was no cohesive, singular brand message. Their Women’s Business Center brand often…

The Federal Trade Commission has stepped in to halt a student loan debt relief scheme that it claims has bilked $23 million from thousands of consumers with false claims. A federal court temporarily halted the scheme and froze its assets following an FTC complaint seeking to end the practices. The complaint outlines how Mission Hills…

Economic cycles, retail struggles drive bankruptcy case load

By Alex Vuocolo Digital Editor/Senior Reporter Delaware has long been a popular venue for bankruptcy litigation. Lately, though, the U.S. Bankruptcy Court District of Delaware appears to be getting even busier, and the causes are difficult to parse. Between 2017 and 2018, bankruptcy cases filed in the district increased from 2,830 to 3,199. That is…

Proposed U.S. Corporate Transparency Act being watched by LLC community

By Roger Morris Contributing Writer When the Corporate Transparency Act of 2019, sponsored by Rep. Carolyn Maloney (D-N.Y.), was reported out of committee on June 11 for consideration by the full U.S. House of Representatives, nowhere was its progress more closely monitored than in Delaware. The state is well-known for its corporate-friendly environment, with two-thirds…

Are these banking, tech, or fintech jobs? Does it matter?

Are JP Morgan Chase and Capital One tech companies, banks, or fintechs? While the answer is probably “yes” (or all of the above), the better response might be “Does it matter?” I have a great deal of sympathy for the challenge that faced John Taylor, director of economic research for the Delaware Prosperity Partnership. Taylor…