Newtown News of Interest
239.6K views | +15 today
 
Scooped by johnmacknewtown
onto Newtown News of Interest
March 17, 2025 3:22 PM
Scoop.it!

#NewtownPA Supervisors Vote to Ditch TD Bank in Favor of Penn Community Bank

#NewtownPA Supervisors Vote to Ditch TD Bank in Favor of Penn Community Bank | Newtown News of Interest | Scoop.it

TD Bank Closing Dozens Of Locations, Including 3 In PA - Across Pennsylvania, PA - These locations will be closed as of early June as the company seeks to re-evaluate its network of branches.

 

This announcement also comes after the bank pleaded guilty in a federal money laundering scheme and agreed to a $3 billion fine back in October — making it the first national bank to do so.

 

Meanwhile, at the 12 March 2025 BOS meeting, the supervisors voted 5-0 to switch Newtown's banking provider to Penn Community Bank.

 

johnmacknewtown's insight:

 

For a long time, Supervisor Phil Calabro has voted against paying the township bills because it uses a “foreign” bank – i.e., TD Bank (aka Toronto Dominion Bank) – for its checking account, credit cards, and other banking services. At the 14 February 2024 BOS meeting, Mr. Calabro gave his reasons: "We have a lot of local banks in the area but we're doing business with Toronto Dominion Bank which if anyone searches Google for Toronto Dominion Bank they will see an abundance of scandals that that bank has been involved in from Ponzi schemes to pay for play. So, I don't know why we're doing business with this bank."

No comment yet.
Newtown News of Interest
These Scoops are excerpts from articles published in local newspapers and other sources that may be of interest to Newtown area residents. Please click on the "From" link to access the full original article. Any opinions and "insights" appended to these article summaries are solely those of John Mack and do not represent the opinions of any other person or entity.
Curated by johnmacknewtown