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BUSINESS
May 11, 2013 | By Martin Crutsinger, Associated Press
WASHINGTON - The Federal Reserve has broadened its oversight beyond banks and now monitors a wide range of financial institutions that could hasten another financial crisis, Chairman Ben Bernanke said Friday. Bernanke said the Fed was still monitoring banks and other important financial institutions. But it has widened its scope to include other participants that could either trigger a crisis or make the system more vulnerable. Chief among them is the so-called shadow banking system, which includes loans that are turned into securities and sold to investors.
NEWS
March 16, 2012
LOS ANGELES - Foreclosure activity surged last month across about half of the nation's states, as banks tackled a backlog of homes with mortgages that had gone unpaid yet remained in limbo due to delays stemming from foreclosure-abuse claims. The increase occurred across 26 states where the courts supervise the foreclosure process. In contrast, the 24 states where the courts do not play a role in the process saw activity decline in February, foreclosure listing firm RealtyTrac Inc. said yesterday.
NEWS
August 4, 1994 | By Richard V. Sabatini, INQUIRER STAFF WRITER
Homer Hoover was just 20 years old when he began his career in banking as a savings teller at the First National Bank of Lebanon. Now, 55 years later, he has retired as board chairman of First National Bank & Trust Co. of Newtown, a firm he had previously served as president and chief executive officer. Associates said Hoover left an indelible mark on the area banking community as he oversaw the expansion of First National from a single location when he joined its ranks as executive vice president in 1961.
BUSINESS
April 4, 2013
The president and chief executive of TD Bank Group, which competes with Wells Fargo for the top spot in Philadelphia-area deposit rankings, has announced his retirement effective Nov. 1. Succeeding Ed Clark, who has led TD for 12 years and spearheaded aggressive U.S. growth, will be Bharat Masrani, who is based in Cherry Hill and currently heads TD's U.S. operations, the Toronto company said. Mike Pederson, who currently heads TD's wealth management and other operations, will take over U.S. banking operations Nov. 1 and will relocate to Cherry Hill, the bank said.
NEWS
January 8, 2015 | By Chris Palmer, Inquirer Staff Writer
The former owner of a Bucks County financial consulting firm was charged Tuesday with paying about $3.5 million in bribes to a foreign banking official to receive favorable treatment for his clients, according to federal authorities. The U.S. Attorney's Office said Dmitrij Harder, 42, of Huntingdon Valley, attempted to conceal the payments to a Russian citizen he knew at the European Bank for Reconstruction and Development by making five deposits into a bank account of the official's sister between 2007 and 2009.
BUSINESS
July 6, 2000 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Millionaire Main Line banker Bipin C. Shah is back in the electronic payments business, four years after he and his investors sold his credit card processing firm, Gensar, for a $160 million profit. Yesterday, Shah said he had joined venture-capital firm GTCR Golder Rauner L.L.C. of Chicago in a $180 million buyout of the automatic-teller units of Affiliated Computer Services Inc. of Dallas. The new company, operating from an office in Fort Washington, will service 16,000 automatic tellers in 49 states, processing more than 200 million transactions a year, and maintaining money machines at retail stores, casinos and banks, according to spokesman Edward N. Eisen.
BUSINESS
March 30, 1987 | By Janet L. Fix, Inquirer Staff Writer
In opening its Philadelphia corporate-finance office, Legg Mason Wood Walker Inc. caused a flurry of departures from the highly respected corporate- finance department of Mellon Bank (East). Graham Humes, 54, formerly head of corporate finance for Mellon and a 13- year veteran of Girard and Mellon Banks, is spearheading the Baltimore- based Legg Mason's efforts to establish an investment-banking beachhead in Pennsylvania. Humes started Girard's investment-banking division and has been involved in more than 100 mergers and acquisitions.
NEWS
December 19, 2000 | By Monica Rhor, INQUIRER STAFF WRITER
Back in her native Ukraine, Irina Mitsik learned to mistrust banks. After all, they could be open one day, then gone - along with all her savings - the next. In the Ghanaian refugee camp where he spent seven years, Donald Todey never thought about saving for the future. After all, in a place where food was scarce and hardships plentiful, no one worried about tomorrow. These days, however, both are carving out new lives in Philadelphia, in a country where savings accounts, credit histories and checkbooks are not just a fact of life, but also a factor in determining who sinks and who swims.
BUSINESS
December 8, 1988 | By Janet L. Fix, Inquirer Staff Writer
Hopper Soliday Corp. yesterday said it had agreed to buy W. H. Newbold's Son & Co. from Provident Mutual Life Insurance Co. The deal would make Newbold's, one of Philadelphia's smaller, specialized investment banking firms, a cross-town sister of Hopper Soliday & Co., a 115- year-old brokerage firm that was acquired in July by a local investment company then known as Decision/Capital. The purchase price was not disclosed, but Hopper Soliday said the price was roughly equal to Newbold's book value minus the value of its asset-management business, which Provident Mutual is keeping.
NEWS
March 1, 1986 | By Jane M. Von Bergen, Inquirer Staff Writer
A Philadelphia lawyer and a former vice president at First Peoples Bank in New Jersey pleaded guilty in federal court yesterday to conspiring to misapply more than a half-million dollars of the bank's money through phony loans. Lawyer Howard E. Davidson, 44, and Charles Baker, 40, both of Center City, told U.S. District Judge Stanley F. Brotman in Camden that they lost some of the money on the stock market and used some of it to buy drugs. Davidson said he had been in the hospital last summer in an effort to kick a narcotics habit.
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SPORTS
August 18, 2016 | By Matt Gelb, STAFF WRITER
For 19 seconds, Chase Utley circled the bases as an opposing player in South Philadelphia, and an entire ballpark stood. Utley did not slow his emotionless jog after he touched home plate. As he returned to the Los Angeles Dodgers dugout, a nearby fan held a sign that read, "CHASE UTLEY, A PHILLIE FOREVER. " Utley disappeared into the dugout in the fifth inning of a 15-5 Phillies loss. The home fans kept yelling. His Dodgers teammates mobbed him. The cheers at Citizens Bank Park endured.
NEWS
August 5, 2016
This time, it was a woman in flip-flops who robbed a bank. About 3:15 p.m. Friday, the woman, dressed in a pink shirt, walked into the Washington Savings Bank at 2548 E. Lehigh Ave. in Port Richmond and handed a note to a teller, the FBI said. After obtaining an undisclosed amount of cash, she fled in flip-flops, the agency said. The robber is described as white or Hispanic, in her early 30s, about 5-foot-7 and of medium build. She also wore a pink baseball cap, orange-and-black shorts, and dark sunglasses.
NEWS
July 31, 2016 | By Harold Brubaker, STAFF WRITER
Citizens Bank has agreed to pay $115,000 to settle a complaint that it told a woman who was on maternity leave with full pay that she would have to return to work before the bank would approve a home-equity line of credit, U.S. Department of Housing and Urban Development said Friday. As part of the settlement of the alleged Fair Housing Act violation, Citizens Bank will pay the woman $40,000, provide fair-housing training to its staff, and make a $75,000 donation to a HUD-approved fair-housing or advocacy organization.
NEWS
July 24, 2016
Voyager Travel Writings By Russell Banks Ecco. 288 pp. $25.99 Reviewed by Peter Lewis There is travel involved in Russell Banks' Voyager : the Antilles, Senegal, the Seychelles, Himalaya, the Everglades, a college reunion; places and events come, they go, clamorous and chromatic, brimming with progressive commentary. But just as often, the road fades and Russell Banks looms: Enough about Dakar, let's talk about me. A memoir, then, in this case corrosive and dodgy, a travel memoir in which the two braids spark if rarely twine.
ENTERTAINMENT
July 21, 2016
DEAR ABBY: My wife and I have been together for eight years. When we first met, I was in the military, and she was a bartender. Needless to say, she made far more money than I did at the time. Six months into our relationship, she got pregnant and quit her job. For the next seven years, she raised our children and went to school while I did whatever I had to do - working two jobs - to make enough to pay the bills. I am now out of the military. I have been at a company for six years, and we are finally reaching a point where we don't worry about money as much.
NEWS
July 18, 2016 | By Chris Mondics, Staff Writer
A 45-year-old Newtown Square man with a taste for luxury has been indicted by a federal grand jury in Philadelphia for defrauding banks and homeowners out of $13 million in a series of mortgage-finance schemes to pay for his lavish lifestyle. George Barnard was charged with 24 counts of wire fraud, four counts of bank fraud, and three counts of filing a false tax return. The indictment charges that Barnard, one of two owners of Capital Financial Mortgage Corp., from 2005 through 2013 refinanced mortgages for clients, but instead of using the money to pay off existing loans and fund new mortgages, kept it for himself.
ENTERTAINMENT
July 14, 2016 | By Dan DeLuca, MUSIC CRITIC
In times of trouble, you could find yourself in far more unpleasant places than South Philadelphia on a breezy summer evening listening to Paul McCartney sing Beatles songs. Which is what a privileged-to-be-there sold-out Citizens Bank Park crowd got to do Tuesday evening, finding refuge from the 24-hour bad-news cycle with the master of the cheerily melodic pop song just three nights after Billy Joel had filled the Phillies-stadium-turned-senior-citizen-rocker showplace, which will also host Bruce Springsteen later this summer.
ENTERTAINMENT
July 8, 2016 | Staff
KIDS 6 to 10 p.m. Friday. Pleasant Playground, 6757 Chew Ave., free, 215-685-2230. The lovable - if a bit lethal - little yellow henchmen from the Despicable Me series star in their own film, a prequel that explains how they came to be Gru's helpers. Along the way, there's a plot to steal the crown jewels, a calamitous coronation, and one really big Kevin. The outdoor screening is at 8:30 p.m., but come early for story time and a book swap, plus the gourmet food truck.  - Michael Harrington 10 a.m. to noon Saturday, Brandywine Zoo , 1001 N. Park Dr., Wilmington.
BUSINESS
July 4, 2016 | By Erin E. Arvedlund, Staff Writer
When her husband died, life began all over again for Birtan Aka Collier. A former banker and mayoral adviser, she had been married 30 years to Ralph Collier, a sophisticated voice in local radio who interviewed celebrities and newsworthy figures. He worked for seven decades in radio, wrote a weekly travel column for the Main Line Times , and hosted a travel program for listeners until he died in 2013. That's when she stepped up to the microphone: She took over her husband's interviews and began recording the shows.
NEWS
July 4, 2016 | By Julie Shaw, Staff Writer
An alleged serial bank robber nicknamed by authorities the "Straw Hat Bandit" struck again Saturday in Montgomery County, authorities said. Around 10:10 a.m., the man - who concealed his appearance with a tan hat and a makeshift mask of fabric with eyeholes - robbed the PNC bank at 1216 Welsh Rd. in North Wales, the FBI said in a statement. After brandishing a black semiautomatic handgun and ordering customers to the floor, he demanded money from tellers, then fled on foot after receiving an undisclosed amount of cash.
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