Boyertown, Pa. – August 31, 2009 – National Penn announced today a $5,300 contribution to Kutztown University Foundation. The donation was made under the Pennsylvania Educational Improvement Tax Credit (EITC) program, through which National Penn and its divisions are contributing more than $300,000 in 2009. National Penn’s donation will be administered through the Kutztown...
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In this issue: “Safe” Treasuries Face Increasing Interest Rate Risk Why 401(k) Investments Should Be Monitored Frequently Excessive Withdrawal Rates Can Hamstring Retirees Assessing Target-Date Funds Dynasty Trusts Attract the Interest of Farsighted Families Lifetime Income Products “Safe” Treasuries Face Increasing Interest Rate Risk (back to top) For fixed income investors, the impact that...
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The government’s foreclosure prevention plan is premised on the idea that the best way to prevent foreclosures is to work with mortgage servicers. The government offers a range of incentives to induce servicers to make loans affordable for struggling homeowners. Since subprime borrowers represent an outsized portion of those struggling to keep up on...
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Back-to-school shopping is an annual ritual that millions of parents participate in each year. In fact, back-to-school time is one of the biggest shopping seasons of the year, second only to the winter holidays. Last year, Americans spent more than $54 billion on supplies, clothes and electronics for school and college-age kids, according to...
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by Sharona Coutts Last week, the government announced the terms of its deal with UBS to settle a case that could have thrown the Swiss bank into bankruptcy. At issue was whether UBS would – or could – hand over the names of tens of thousands of American citizens believed to have used their...
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AMBLER — The Montgomery County Commissioners presented Ambler Borough Council with a $249,500 check at its recent meeting for a revitalization grant to make downtown improvements. The grant includes $200,000 for lighting, decorative lighting, landscaping and a gateway arch at the Lindenwold Parking Lot. It also includes $49,500 for façade improvement grants for commercial...
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Bank of America is the biggest mortgage servicer in the business. And judging by Treasury Department data, its customers searching for loan modifications are the most frustrated. Through the end of July, it had modified just 4 percent of its most delinquent loans eligible for the government’s foreclosure-prevention program – roughly 28,000 out of...
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Bank Failure Friday Texas Style by Jake Bernstein Four banks failed Friday bringing the total for the year to 81. The largest by far was Guaranty Bank. With assets of $13 billion, the Austin-based savings and loan is the third largest bank failure this year, behind Colonial BancGroup (assets: $25.5 billion) and BankUnited (assets:...
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The boards of directors of First Niagara Financial Group, Inc. (NASDAQ: FNFG) and Harleysville National Corporation (NASDAQ: HNBC) announced that First Niagara has agreed to acquire the Philadelphia-area financial services company in an all-stock transaction valued at approximately $237 million or $5.50 per share. The acquisition of the Harleysville-headquartered bank will provide First Niagara...
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NEW YORK – As banks and credit card companies look past today’s focus on mitigating credit losses, and look for growth opportunities, they will be forced to re-think how rewards fit into their product design. Recently passed legislation directed at credit card issuers, will add to the competitive pressure they already feel, and will...
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