Bankruptcy Blogs

Mad about erica: Why a million people use Bank of America's chatbot

06/13/18

The bank’s AI-driven virtual assistant, which lets people quickly search transactions and cancel subscriptions and other recurring charges, was an instant hit. But BofA will have to take a number of steps to sustain erica's early momentum.

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Senators seek probe of SEC member who assailed Citi's gun stance

06/13/18

Six Senate Democrats are asking the SEC's internal watchdog to investigate a Republican commissioner who berated Citigroup executives in a private meeting over the bank's decision to curtail some of the business it does with companies that sell guns.

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Speed worked to CenterState's advantage in Atlanta deal

06/13/18

Charter One wanted to sell itself quickly because it feared valuations had peaked, and CenterState was able to beat other potential suitors to the punch.

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BNY Mellon ditches many actively managed funds in favor of ETFs

06/13/18

The bank's head of investment management said Wednesday that his unit has eliminated dozens of high-cost funds over the last two years and replaced them with more passive investment vehicles.

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Federal judge rejects CFPB's effort to halt payday rule

06/13/18

Acting CFPB Director Mick Mulvaney had sided with two industry trade groups that sued the CFPB in April to invalidate the tough restrictions.

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It’s time to modernize the Bank Secrecy Act

06/13/18

Republican congressmen Blaine Luetkemeyer and Steve Pearce say their new legislation would update anti-money-laundering and counterterrorism requirements for small financial institutions.

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Issa emerges as new name for CFPB chief

06/13/18

Rep. Darrell Issa, the Republican lawmaker from California, is among the candidates who have been discussed as President Donald Trump gets closer to naming someone to run the Consumer Financial Protection Bureau, according to people familiar with the matter.

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Minority stake sets stage for potential acquisition in Minnesota

06/13/18

Park Financial has agreed to buy shares from one of the founders of Mesaba Bancshares.

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SIFIs slip; B of A Merrill settles securities charges

06/13/18

Almost half of systemically important financial institutions are trading in bear territory; bank is accused of overcharging customers for mortgage-backed securities.

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Southern Missouri Bancorp makes small deal in its home turf

06/13/18

The company will gain 10 branches and $145 million in loans after it buys Gideon Bancshares.

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