Bankruptcy Blogs

New PPP angst, forbearance balloon payments, Scharf backlash: Top stories of the week

09/25/20

Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.

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Commercial lenders in coastal cities get boost from day-tripper trend

09/25/20

Banks' restaurant and hotel clients in many oceanside communities are seeing an uptick in business as travelers opt for short hops over long hauls during the coronavirus crisis. But activity could slow as colder weather approaches.

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Oversight council warns of systemic threat from Fannie, Freddie

09/25/20

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

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Warren presses Powell on race gaps in possible Biden-era preview

09/25/20

During a Senate Banking Committee hearing, the Massachusetts Democrat asked Powell what the Fed is doing to reduce inequality along economic lines in the U.S.

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'Banking is boring': Sberbank's radical transformation to tech firm

09/25/20

Russia's largest bank is reinventing itself as a technology company and selling its own consumer electronic devices. Its chief tech officer says the moves are all about developing broader, more enduring customer relationships that the bank controls fully.

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Michigan's CP Financial takes more steps to bolster growth

09/25/20

Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union.

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Fed’s Bostic urges banks to repair ‘history of abuse’ of Black Americans

09/25/20

Bostic, the first Black Fed president in the central bank’s 106-year history, said systemic racism is an economic as well as a moral issue.

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Dollar Bank seeking heft around Pittsburgh with Standard acquisition

09/25/20

The mutual bank has agreed to pay $158 million for Standard AVB Financial, which has 17 branches in Pennsylvania.

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Credit unions altering perks and policies to respond to staff under stress

09/25/20

Understanding that staff are dealing with new uncertainties surrounding the pandemic, some institutions have become more flexible with many of their traditional HR policies.

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Want diversity? Move beyond your closed network

09/25/20

Bankers should cast a wider net for applicants and hold listening sessions with their minority employees if they truly want equality.

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