Thanks to https://askubuntu.com/questions/22413/how-to-change-gnome-terminal-title type
PROMPT_COMMAND='echo -ne "\033]0;TITLE HERE\007"'
This will change the title in the terminal banner, normally located in the upper left corner.
To make the terminal title be the full path of the current folder, type
PROMPT_COMMAND='echo -ne "\033]0;$PWD\007"'
To make the terminal title be the last folder in full path of the current folder, type
PROMPT_COMMAND='echo -ne "\033]0;$(basename $(pwd))\007"'