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A New Era for Business Continuity Management for Community Financial Institutions

Jack Henry

The US banking industry has been a vital part of our nation all the way back to 1780 when the Bank of Pennsylvania was founded by Philadelphia merchants to fund the American Revolutionary War.

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Study: COVID-19 Fraud Reaches $100M

PYMNTS

The five most targeted states by the scams include the ones with the biggest populations: California, Florida, New York, Texas and Pennsylvania. These states accounted for one third of more than 150,000 instances of COVID-related fraud reported nationally by the Federal Trade Commission (FTC) since mid-March.

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Community Bank History: Peoples National Bank, Hallstead, Pennsylvania

Jeff For Banks

Community banks tout themselves as better than national and regional banks because of how close they are to their communities. A case in point: the First National Bank of Hallstead… now Peoples National Bank (see photo). The bank closed during the national bank holiday that was ordered by President Roosevelt in 1933.

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Deutsche Bank, PNC Plan To Reduce Brick-And-Mortar Bank Branch Footprints

PYMNTS

The financial institution said per the report that it would shutter approximately 100 locations throughout the nation, which would shrink its domestic offices to roughly 400. And Pennsylvania-based Northwest Bank announced the closure of 40 branches throughout its portfolio, YourErie reported.

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Unemployment Filings Top 3.1M Across US

PYMNTS

Total claims filed since COVID-19 hit the nation in March have topped 30 million. As the coronavirus pandemic continues to cripple the U.S. economy, another 3.169 million people filed for unemployment benefits in the week ending May 2.

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CFPB September 2016 complaint report highlights money transfer complaints, complaints from Pennsylvania consumers

CFPB Monitor

The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. The percentage of mortgage complaints submitted by Pennsylvania consumers, 22 percent, was lower than the 25 percent national average.

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Many US Restaurants Say PPP Loans Don’t Meet Their Needs

PYMNTS

The National Restaurant Association (NRA) said regulations for the federal Paycheck Protection Program’s ( PPP ) forgivable loans don’t meet the needs of eateries, given that many remain closed and the money must be spent within eight weeks. An industry trade group said it’s highly likely that many restaurants will return loans from the U.S.

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