Bankruptcy Blogs

Reform of Fannie, Freddie should fall to Congress: FHFA nominee

02/14/19

The administration’s choice to regulate the government-sponsored enterprises appeared to distance himself from speculation that the White House may try to overhaul housing finance without legislation.

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Can JPMorgan Chase's JPM Coin knock off Ripple and Swift?

02/14/19

JPMorgan is prototyping its own digital currency to be used for cross-border payments and, later, other purposes. Will banks find this a palatable alternative to today's most well-known options?

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First Republic extends CEO's contract, but hints at succession plan

02/14/19

The company has appointed President Gaye Erkan to its board of directors, potentially positioning her to replace longtime CEO James Herbert when he eventually retires.

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Student Loan Servicing Fail (continued)

02/14/19

The U.S. Education Department is doing a lousy job of overseeing the private companies servicing $1.1 TRILLION of federal student loans. That is the gist of the Inspector General's findings in a new report. Among other problems, the IG found that servicers were not telling borrowers about available repayment options, and were miscalculating income-based repayment amounts.

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JPM Coin's focus on B2B breaks the bitcoin mold

02/14/19

JPM Coin is not meant for consumer payments, but rather is a specific technology for a specific use case that the bank controls. Its value comes not from JPM Coin's appeal, but from JPMorgan's titanic wholesale payments business.

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One group's plea to move mutuals off endangered list: Relax de novo standards

02/14/19

While proponents contend the model could help reach the underbanked, there remain many arguments against it.

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House lawmaker warns of CECL's impact on Fannie, Freddie

02/14/19

Rep. Blaine Luetkemeyer, R-Mo., told the mortgage giants' chief federal regulator that the Financial Accounting Standards Board’s new model for estimating loan losses could pose risk across the mortgage market.

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Will FDIC keep protecting failed banks’ uninsured deposits?

02/14/19

Since the collapse of IndyMac in 2008, the agency has frequently helped to shield depositors over the $250,000 insurance limit from losses. But it’s a policy that was never formalized, and it remains to be seen whether the agency’s new head, Jelena McWilliams, will follow it.

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JPMorgan to use cryptocurrency for corporate-payments business

02/14/19

JPMorgan Chase successfully tested a cryptocurrency it plans to use in trials for clients of its wholesale-payments business. Dubbed JPM Coin, it's based on blockchain technology, the bank said Thursday in a presentation on its website.

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Speedier bank mergers; a new take on the Equifax hack

02/14/19

The time regulators take to decide on prospective deals has dropped sharply; a report says the cyberthieves were looking for info to help recruit spies.

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