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City National Bank of Florida's new biz, Orrstown Financial downsizes

American Banker

City National Bank of Florida is starting a national capital markets division, Orrstown Financial will close branches in Pennsylvania and Maryland, JPMorgan Chase announces in-store biometric payments and more in this week's banking news roundup.

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PA Attorney General enters into agreement prohibiting collections by buyer of private student loans

CFPB Monitor

The Pennsylvania Attorney General recently entered into an Assurance of Voluntary Compliance with Elevation Capital Partners, LLC, a buyer of private student loans, that prohibits Elevation from engaging in any collection efforts, directly or through servicers, related to loans made to Pennsylvania borrowers who attended schools operated by Education (..)

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Need A Shopping Mall? Landlords Are Selling Cheap

PYMNTS

The landlords who hold the bulk of the nation’s malls would like to unload those fading centers that are failing to attract traffic in the era of eCommerce. million transaction for the Logan Valley Mall in Altoona, Pennsylvania, anchored by Macy’s, JCPenney and Sears stores. The sellers are clearly on their knees.”.

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The Acela Primary Underway In States Where Businesses Are Struggling

PYMNTS

Through the PYMNTS/CAN Capital Store Front Business Index , we’ve been tracking the data on business health and growth in each state and then stacking those results against the regional and national picture. Pennsylvania. percent, while the nation (using all of the inputs tracked) grew by 3.1 percent growth.

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Philadelphia Mall Owner Takes Care Of Its Own

PYMNTS

Just this week, investors in Starwood Capital Group started to show signs of strain after the pandemic shuttered stores and wiped out emergency cash reserves, leading to default on a $700 million loan. REITs are not exactly a source of good or even consistent news these days. But apparently they’re doing something right in Philadelphia.

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Widening Borrower Protection’s Scope To SMBs

PYMNTS

MacKrell emphasized the role that federal and state government initiatives can play in increasing awareness among SMBs about online lending risks and the potential for more affordable financing options – with New York quickly becoming a key battleground for the nation’s small business borrowers’ protection movement. ”

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How Can Banks Thrive in the Next Five Years?

Jeff For Banks

I know, my first job in banking in 1985 at Northeastern Bank of Pennsylvania was making microfiche. In Pennsylvania, Rocket has number 1 market share. They are/were the business owners, demanders of capital and loans, and significant depositors. I could barely stay awake during my shift.' And it wasn't just the tech explosion.