Category: Banking and Financial Services

What does the growing presence of financial technology firms such as Acorns, Marlette Funding, College Ave Student Loans and SoFi mean for Delaware? A new white paper on the fintech industry in Delaware is sort of the first draft of how to answer that question. A collaboration between the University of Delaware’s Institute of Public Administration,…

What if you could take the spare change from your coffee runs and automatically invest it towards your retirement? That’s the concept behind Acorns, an investment application with more than 5 million users.  The app scans users’ credit and debit purchases and moves the change from each purchase into a customized portfolio. (Say you spend…

Barclays to move 500 jobs in Wilmington to N.J.

Barclays will reduce its Wilmington workforce by about 25 percent after it moves 500 operations and technology jobs to its new campus in Whippany, New Jersey, by the end of 2019. Employees were told about the decision on Wednesday morning, but many contacted said the announcement has been expected for a few weeks.  The company…

By Peter Osborne Earlier this week, I received Sam Waltz’s column for this week, which coincidentally covers the same topic that I had decided to tackle. Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) have proposed a 15 percent credit-card interest cap that essentially reverses a 1978 Supreme Court decision that gutted state usury laws…

By Sam Waltz U.S. Sen. Bernie Sanders and U.S. Rep. Alexandra Ocasio-Cortez are textbook examples for the failure of economic literacy in America. Their proposal to cap credit card interest rates at 15% is the evidence of their failure of insight. What Sanders and Ocasio-Cortez fail to realize — or decide not to — is…

WSFS Bank has named Anthony Ryan as the new senior vice president and director of small business. The long-time Delaware Valley banker will lead a team of 18 small business lenders across the bank’s newly expanded footprint, which includes Delaware, Philadelphia, southeastern Pennsylvania and southern New Jersey. “Anthony is the utmost dutiful banker to our…

Capital One is stepping up to fund the second phase of development at the former AstraZeneca North Campus outside Wilmington. The bank announced on May 22 that it has provided a $68 million five-year loan to Brandywine Investment Group II, an affiliate of Delle Donne & Associates that is financing the next stage of development…

The Bank of Princeton has successfully completed the acquisition of five WSFS Bank branches in New Jersey, including Bordentown, Browns Mills, Chesterfield, Deptford and Sicklerville locations. “We are very excited about the branch acquisition and view it as transformational for The Bank of Princeton, allowing for considerable opportunities to grow and improve shareholder value,” said…

WSFS Bank has announced the new management team that will oversee the bank’s expanded network of retail banking offices following its merger with Philadelphia-based Beneficial Bank. The network will now include 90 retail banking offices throughout Delaware, southern New Jersey and southeastern Pennsylvania. The combined firm plans to close 25 percent of its retail locations.…