Bankruptcy Blogs

The pitfalls Discover’s new CEO sees in consumer lending

10/26/18

Personal loans are "tricky to underwrite" because consumer credit scores are high at the time of origination and then drift downward, says Roger Hochschild, who recently took over as the head of Discover Financial Services.

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Mortgage market is ripe for fraud (again)

10/26/18

Growing home prices plus rising interest rates are putting a damper on mortgage lending, which pushes the market to seek out less qualified borrowers and increases the risk of fraud.

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Tempnology and Janger Too!

10/26/18

The Supreme Court granted cert today in the bankruptcy case of Mission Product Holdings v. Tempnology, LLC. It sounds like another one of those cases only bankruptcy nerds can love, but it has potentially broad implications. On its face, it is about trademark licenses, but the Supreme Court could fix some case law about all contracts in bankruptcy.

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CFPB makes it official: Changes to payday rule coming in new year

10/26/18

The agency wants to change underwriting requirements in the regulation that lenders say will put them out of business, and give companies a break on the compliance deadline.

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Union-backed bank will start tracking carbon in loans

10/26/18

Amalgamated Bank of New York said it will begin tracking the carbon emissions it is financing through its $3.4 billion loan portfolio, using as a guide the science that would limit global warming to 2 degrees Celsius, which is the goal of the Paris Climate Agreement.

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BofA vice chairman, global wealth head Terry Laughlin dies at 63

10/26/18

Bank of America said Terry Laughlin, vice chairman and head of global wealth and investment management, has died. He was 63.

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Why Citi is investing in tech that controls how much cardholders spend

10/26/18

The bank saw value in Ondot System’s ability to empower customer analytics in card controls.

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An Iowa bank’s mandate for selling itself: Simplify

10/26/18

ATBancorp had an unusual footprint that included a small bank and a number of fee-based businesses. But it had to slim down before it could find a buyer.

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Fed should force Wells Fargo into being a simpler bank

10/26/18

The central bank should consider rescinding the bank’s “financial holding company” status, which allows it to participate in nonbank activities, given its inability to respond to internal management problems.

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Regulators secretly halted JPMorgan Chase’s growth for years

10/26/18

Under the Obama administration, the OCC quietly prevented JPMorgan Chase from opening branches in new states as punishment for violating banking rules, according to sources.

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