Category: Banking and Financial Services

  WILMINGTON, Del. (AP) — A Dover businessman has been sentenced to a year and a day in federal prison after pleading guilty to conspiracy in an ongoing criminal investigation into the lending practices and collapse of Wilmington Trust bank. Fifty-two-year-old Salvatore Leone was sentenced Tuesday, two years after pleading guilty and agreeing to cooperate…

Hudson City Bancorp, Inc. and M&T Bank Corporation announced that M&T has received regulatory approval from the Federal Reserve to complete the merger with Hudson City. The transaction is expected to be completed on or about Nov. 1, pending approval by the New York State Department of Financial Services and the satisfaction of customary closing…

WILMINGTON, Del. (AP) — Attorneys for Wilmington Trust are asking a federal judge to halt an investor lawsuit stemming from the bank’s collapse until criminal charges against several former executives are resolved. Wilmington Trust attorneys said in court papers this week that document production in the lawsuit should be put on hold following the recent…

Related Story: CEOs: State cuts or $600M deficit by 2025 On the heels of a call for budget reform from the Delaware Business Roundtable, Gov. Jack Markell has signed an executive order creating the Delaware Expenditure Review Committee. “Delaware’s revenue sources don’t grow with our economy, so even as our state’s economy has improved, we face…

By Vincent A. Schiavi Guest Columnist John Bogle, founder of the Vanguard funds, often recalls a conversation he once had with an advisor. The advisor had a series of meetings with a client to discuss the client’s portfolio. The client asked the advisor what should be done in light of recent news. The advisor responded…

Chase has launched a free app that allows cardholders to redeem their cash-back rewards at the register at 30 merchants – including Gap, Target, Low’es, Starbucks,Toys ‘R’ Us, TGI Fridays and Regal Entertainment Group. The Chase Freedom® Mobile App, available on both the Apple App StoreSM and Google Play™, allows cardholders to earn unlimited 1…

RANDALL CHASE, Associated Press WILMINGTON, Del. (AP) — Former Wilmington Trust president Robert Harra Jr. has pleaded not guilty to criminal charges stemming from an ongoing a federal investigation into the collapse of the century-old financial institution. The 66-year-old Harra said little during a court appearance Thursday, but his lawyer told the judge that Harra…

By: Federal Reserve Bank of Philadelphia Manufacturing activity in the region increased in August, according to firms responding to this month’s Manufacturing Business Outlook Survey. The indicators for general activity are holding fairly steady and suggest modest growth. While firms reported increased shipments compared with the prior month, the current indicators for new orders and…