State lawmakers are proposing legislation that would cap fees for customers who overdraw their accounts at banks and credit unions.The goal is to protect lower-income
A Scranton-area bank is seeking permission to open what would be its first branch in Lancaster County, according to a regulatory update from the Pennsylvania Department of Banking and Securities.Dunmore-based Peoples Security Bank & Trust Co. is looking to open the branch at 2343 Oregon Pike in Manheim Township, on the site of a retail plaza at […]
Just over a year ago, Drew Mousetis began pitching the idea of direct employee ownership to anyone willing to listen.Now, he and the Lancaster-based nonprofit he leads, the Tandem Center for Shared Business Success, are poised to land their first convert.“There’s a lot of buzz out there about Tandem, and people want to see a […]
Paramount Management Group, the defunct Lancaster-based ATM network headed by Daryl Heller, sold and resold the same ATMs to the network’s investors, accounting for sales of nearly $22 million, according to a report filed yesterday by a court-appointed examiner in Heller’s bankruptcy case.The report appears to bolster investors’ allegations that they were defrauded by Heller and […]
After listening to both sides of a loan dispute yesterday morning, a Dauphin County judge outlined a potential truce and asked attorneys to put it in writing.Harrisburg-area flooring supplier Frontier Surfaces claims it is on the brink of financial collapse following efforts by regional lender Mid Penn Bancorp to collect on a $4 million loan to the company.Mid Penn […]
A regional bank allegedly relied on false premises to seize $1.6 million in inventory from a Harrisburg-area flooring company, according to a legal complaint filed by the company against the bank.The complaint, filed last week in Dauphin County court against Mid Penn Bank, is the latest salvo in a dispute over an alleged loan default by the […]
State lawmakers are taking another run at creating a state-backed retirement program for private-sector workers.Similar legislation cleared the Democratic-controlled House in 2023 but failed to move in the GOP-led Senate.The House is once again on the cusp of passing the legislation following its approval on Tuesday in a party-line vote by the House Commerce Committee.What’s the […]
Citing federal pullbacks in the area of consumer protection, the Shapiro administation yesterday unveiled a new hotline, website and email address for complaining about banks, insurers, student lenders and other financial services providers. State residents can now call 1-866-PACOMPLAINT, visit pa.gov/consumer or email [email protected] to report their concerns.Pennsylvania has its own set of laws designed to protect […]
A state authority is awarding $2 million to a new venture capital fund that aims to sink the money into Pennsylvania’s life sciences sector, an area that state officials have targeted for growth.The fund is Neovate Life Sciences GP 1 LLC, launched by Neovate Capital Partners, which has offices in Pittsburgh, London, Boulder, Colorado, and New Haven, […]
Bank of Bird-in-Hand in Lancaster County is seeking permission to add a stop in Mount Joy for one of its Gelt Buses, which are essentially bank branches on wheels.If all goes as planned, the bank’s Gelt Bus No. 3 would begin making stops at 3141 Mount Joy Road, the home of Mount Joy Gift and Thrift, […]
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