Mid Penn Bank is firing back at claims it did not adequately protect a nonprofit from fraud.In a legal filing this month, the Harrisburg-based bank alleges
A federal court has approved a settlement in a data-breach lawsuit brought against Fulton Bank.Under the agreement, the Lancaster-based bank will pay $750,000 to set up a fund to compensate victims of the breach, which hit a Fulton Bank vendor rather than the bank itself. The bank is not admitting any liability for the breach, nor […]
State authorities on Friday disclosed what they say was a widespread bank-fraud operation in Central Pennsylvania that drained nearly $2 million from the accounts of victims.Two men have been arrested in connection with the fraud but a criminal complaint lists nine other people. More charges are expected, according to the Pennsylvania attorney general’s office, which […]
A Harrisburg-area financial advisory has joined the wave of consolidation washing over the industry.Comprehensive Financial Associates, based in Susquehanna Township, has been acquired by insurance and benefits brokerage AssuredPartners, according to a press release from Wise Rhino Group, the M&A firm that advised Comprehensive Financial. Terms of the transaction were not disclosed. But it also includes an […]
Amid a wave of consolidation in the financial planning sector, Lancaster-based Domani Wealth has been purchased by a larger firm based in Illinois.The acquisition is the fourth this year for the firm, Savant Wealth Management, which is based in Rockford, west of Chicago. Terms of the deal were not disclosed but Domani will keep its existing leadership, advisers […]
New York-based Citibank should be held liable for any losses suffered by a Harrisburg-based nonprofit that claims it was the victim of fraud, according to a legal filing by Mid Penn Bank. The nonprofit, the Center for Independent Living of Central PA, sued Mid Penn over the loss in February. Fraudsters allegedly managed to access two of the nonprofit’s accounts at Mid […]
Fraudsters drained nearly $250,000 from bank accounts of the Center for Independent Living of Central PA, and the Harrisburg-based nonprofit wants its bank, Mid Penn Bank, to refund the money, according to a lawsuit filed last week in Dauphin County court.The Harrisburg-based bank allegedly failed to enforce “commercially reasonable” security controls on the accounts and thus it […]
In a case that could have far-reaching implications for corporate taxpayers, the state’s highest court has awarded a $2.1 million tax refund to a Pennsylvania-based arm of Johnson & Johnson.Reached last week, the decision hinged on what sounds like a simple question: Whether the company owed taxes in Pennsylvania based on services produced in this state […]
Camp Hill-based LinkBancorp has struck a deal that will extend its footprint into Delaware, Maryland, New Jersey and Virginia.The bank said yesterday it has agreed to a “merger of equals” with Partners Bancorp, a Salisbury, Maryland-based bank with a long history in the Delmarva region. The all-stock deal is valued at $167.8 million, according to a press release. […]
A Lancaster-based private equity firm is taking a third shot at the youth-enrichment market, a space where it has found success in the past.PennSpring Capital has acquired Emagination Tech Camps, which has been rebranded as Emagination STEM Camps, according to Lou Castelli, PennSpring’s managing partner. The previous owner was a private investor who bought the company during the […]
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