Bankruptcy Blogs

What Is "Credit"? AfterPay, Earnin', and ISAs

07/16/19
A major issue in consumer finance regulation in mid-20th century was what counted as “credit” and was therefore subject to state usury laws and (after 1968) to the federal Truth in Lending Act. Many states had a time-price differential doctrine that held that when a retailer sold goods for future payment, the differential between the price of a cash sale and that of credit sale was not interest for usury law purposes.
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First Republic views loan growth as key offset to margin pressure

07/16/19

The San Francisco company touted a strong pipeline for loans over the rest of this year.

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Goldman Sachs paid price for expansion into consumer banking

07/16/19

The company revealed its pretax losses for its forays into consumer and other digital banking services, which began in 2016 with the launch of a consumer deposit franchise and an installment loan product.

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KeyCorp discloses $90M exposure from suspected fraud

07/16/19

The Cleveland regional said the matter is tied to a commercial client and that law enforcement is investigating it.

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Wells Fargo’s Parker downplays notion he'll get CEO job permanently

07/16/19

The interim CEO told analysts Tuesday that the company remains committed to hiring an outsider who isn't connected to its scandals of recent years.

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Synovus doubles down in Florida

07/16/19

The Georgia regional plans to open more branches in the state as it looks to loan growth and fees as a way to offset intense competition for deposits.

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The $40 billion gift that Wall Street doesn't deserve

07/16/19

Attempts to roll back a safeguard on derivatives would give megabanks a $40 billion windfall, putting taxpayers on the hook.

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Mnuchin adds to anti-Libra chorus; Fed’s Williams touts SOFR

07/16/19

The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor.

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Wells Fargo's revenue holds steady as its margin narrows

07/16/19

The bank's net interest income fell to its lowest point in three years, and total revenue fell short of analysts' expectations.

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JPMorgan warns that lending income will fall in the second half

07/16/19

Granted, the bank's earnings per share topped estimates in the second quarter, but its forecast on net interest income suggests it will be harder for JPMorgan Chase to offset declining revenue from trading stocks and bonds.

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