Bankruptcy Blogs

Banks eager for Fed stress test to prove they can weather virus

03/13/20

The biggest U.S. banks are once again preparing to show how they'll be able to withstand a severe economic shock in a hypothetical doomsday scenario, and they're eager to get on with it as a real one unfolds.

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Demand for small-dollar loans is likely to spike. Will banks be ready?

03/13/20

Banks typically don't offer loans to cash-strapped consumers, and are poorly positioned to start doing so on an emergency basis — unless the government steps in to help.

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Force Majeure Clauses and COVID-19 – Can Force Majeure Clauses Excuse Performance Under New York or Delaware Law in a Pandemic?

03/13/20

With the World Health Organization declaring COVID-19 a pandemic on Wednesday, March 11, 2020, businesses are likely to continue to feel its effects.  When businesses are unable to perform their contractual obligations as a result of COVID-19, force majeure clauses may become important.

Coronavirus; force majeure

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Wells Fargo hires TD's Ellen Patterson as general counsel

03/13/20

TD Bank Group's top lawyer will succeed Allen Parker at scandal-plagued Wells Fargo later this month.

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North Carolina de novo to open after raising $50 million

03/13/20

Triad Business Bank, which will immediately have offices in three cities, will debut next week.

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Coronavirus, U.S. Bank's opportunism, CFPB sues Fifth Third: Top stories of the week

03/13/20

From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.

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Bank M&A was already slowing down. Then the pandemic hit.

03/13/20

Coronavirus concerns, along with the Fed's emergency rate cut and an erratic stock market, have forced most bankers to take pause and reassess potential deals.

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HSBC sounded out ex-Citi banker Forese for CEO position

03/13/20

HSBC sounded out former Citigroup banker James Forese to gauge his interest in the chief executive officer's post, at least the third high-profile outside financier to be approached.

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FDIC approves application for proposed Ohio de novo

03/13/20

Organizers of Riverside Bank of Dublin will need to raise $18 million before opening.

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Banks urgently pitch investors on lending to needy companies

03/13/20

Investment bankers have are trying to drum up interest from investment firms and hedge funds to provide tens of billions of dollars in financing to companies in industries upended by the coronavirus.

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