Bankruptcy Blogs

Stop shaming the big banks

03/10/20

Community bankers keep harping on the illusory issue of "too big to fail." If they're serious about strengthening the economy, they should make more of an effort to unite the industry, not divide it.

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Credit Sesame expands into digital banking

03/10/20

The credit education provider plans to use its deep knowledge of credit scoring to advise account holders on how to improve their scores and cash management simultaneously.

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United Community enters new Florida markets with Three Shores deal

03/10/20

The Georgia company will expand into central and southern Florida by buying the parent of Seaside National Bank & Trust.

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Oil price plunge fans bank fears; CFPB sues Fifth Third on phony accounts

03/10/20

Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas.

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Paper Dragons

03/09/20

Last Saturday evening the Prime Minister of Lebanon announced that the country would not be paying a $1.2 billion Eurobond scheduled to mature today, March 9. As recently as six weeks ago the March 9 bond was trading at 90 cents on the dollar. Today, Lebanon's foreign bonds are deep in the toilet at 18-19 cents.

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CFPB sues Fifth Third for allegedly opening phony accounts

03/09/20

The Consumer Financial Protection Bureau says the Cincinnati bank engaged in aggressive sales practices and open bank and credit card accounts without consumers' authorization in order to meet sales targets.

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Settlement in Iowa resolves dispute over bank-credit union branch deal

03/09/20

First American Bank agreed to cover costs incurred by the Iowa Division in Banking, while the regulator made it clear that the accord would not set a precedent for future credit union-bank deals.

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Consumer lenders start to feel pinch as fears of virus spread

03/09/20

Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession.

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Regulators pledge assistance to banks affected by coronavirus

03/09/20

State and federal officials committed to providing “appropriate regulatory assistance” to banks whose customers may be hurt by the coronavirus outbreak and said prudent measures would not be subject to criticism by examiners.

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Why Citizens Bank got into point of sale lending

03/09/20

Brendan Coughlin, head of consumer banking, explains how Citizens established its relationships with Apple and Microsoft for point of sale financing and how they've evolved.

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