Bankruptcy Blogs

Kabbage inks deal with online banking platform Azlo

05/16/19

Azlo will offer customers the ability to apply for a Kabbage loan through a new program called Mission Street Capital.

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Wells Fargo moves closer to recouping some losses tied to scandal

05/16/19

A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts.

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Should San Francisco's ban on face-recognition tech worry banks?

05/16/19

Police and city agencies can no longer use facial-recognition technology, which civil liberties groups say infringes on human rights. The measure may be an ominous sign for biometric login authentication.

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Accountants cite banker burnout in calling for delay of new standard

05/16/19

The American Institute of Certified Public Accountants says banks are fighting accounting fatigue — thank CECL for that — and wants the FASB to push back a deadline for privately held firms to put operating leases on their balance sheets.

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Mortgage snafu forces Pa. bank to disclose material weakness

05/16/19

Meridian Corp. may have breached sales agreements after originating nearly $100 million in loans in a state where it lacked a license.

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Slamming FASB misses the point

05/16/19

Banking officials can reasonably disagree on new standards for current expected credit losses, but the accounting body developed the rules over many years and based them on extensive feedback.

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OpenFin raises $17M in funding backed by Wells Fargo, JPMorgan

05/16/19

The company offers an operating system for financial applications akin to Apple's iOS, and more than a thousand applications run on it.

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Citi hit hardest as EU fines banks $1.2 billion over foreign exchange

05/16/19

Royal Bank of Scotland and JPMorgan Chase were also among the five banks that agreed to pay fines for colluding on foreign-exchange trading strategies.

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OCC monitoring Wells CEO search; CFPB enforcement chief to leave

05/16/19

Agency says it will vet Timothy Sloan’s successor; Eric Blankenstein, who came under fire for 2004 racist blogs, to step down.

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ALI Consumer Contracts Restatement-What's at Stake

05/16/19

The American Law Institute's membership will vote next Tuesday (the 21st) on whether to approve the ALI's Consumer Contracts Restatement project.  Let me recap why you should care about this project:  it opens the door for businesses to use contract to abuse consumers in basically any way they want.

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