Bankruptcy Blogs

House lawmakers give update on CECL, pot banking

02/26/20

At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

[more]

State regulators look to streamline work for fintechs — and each other

02/26/20

One platform under development will let financial technology startups use a single portal to obtain licenses from multiple states, and another will let states collaborate on examinations.

[more]

Fintechs are banking's Transformers. And banks aren’t ready.

02/26/20

Fintechs like LendingClub and Varo Money illustrate how the traditional financial system is changing. Banks that don’t rapidly evolve with technology will be obsolete.

[more]

CUNA chief and NCUA at odds on bank purchase guidance

02/26/20

The debate centers on whether guidance on credit union-bank mergers is necessary.

[more]

CIBC cuts jobs, shuffles executives in CEO cost-cutting mission

02/26/20

With its expenses soaring, the Toronto company has taken a $250 million restructuring charge to cover severance from staff reductions.

[more]

Dimon ‘open-minded’ on deals; CFPB would permit ‘zombie’ debt collection

02/26/20

JPMorgan would consider buying other businesses; collectors would be allowed to pursue debt past the statute of limitations, if they warn borrowers.

[more]

Banks are worried about NCUA’s new sub debt rule. Should they be?

02/25/20

Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.

[more]

Is the U.S. payment system fair?

02/25/20

Aaron Klein, a fellow at the Brookings Institution, argues that the setup works well for those with money, but is very expensive for those on the lower end of the spectrum.

[more]

JPMorgan investor day runs gamut, from climate change to middle market

02/25/20

Executives outlined changes in energy lending policies, said that the largest U.S. bank has only scratched the surface in middle-market credits and discussed their preparations in case of an economic slowdown.

[more]

Trucking, energy loans posing problems for BMO Financial

02/25/20

A spike in loan-loss provisions dragged down first-quarter profits at the Toronto company’s U.S. unit.

[more]