Bankruptcy Blogs

Senate ready to repeal CFPB auto rule; Tax cuts juice bank profits

04/18/18

The Senate is expected to pass a bill that would ax controversial guidance on loans at car dealerships; lower tax rate may have skewed year-on-year comparisons.

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Congressional Review Act Confusion: Indirect Auto Lending Guidance Edition (a/k/a The Fast & the Pointless)

04/17/18

Part of the legacy of Newt Gingrich and his Contract with America (can I get damages for breach?) is the Congressional Review Act.  The CRA creates a mechanism whereby Congress can override an agency rulemaking on a simple majority vote in both houses, meaning that it is not subject to the filibuster in the Senate. Congress has only used this tool infrequently, most notably with the CRA resolution overriding the CFPB's arbitration rule. 

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Hancock reports higher profit that reflected balance sheet growth

04/17/18

An increase in total loans and a lower tax rate helped the Mississippi company offset revenue it lost after selling a consumer finance business.

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Small businesses hit by disaster often struggle with credit, too

04/17/18

Banks may need to do more to help small businesses after a hurricane, flood or other calamity as those firms tend to favor nonbank lenders after an emergency for a number of reasons, according to research by four regional Federal Reserve banks.

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Fulton reports higher profit on lower tax rate, loan growth

04/17/18

The company benefited from increases in residential and construction lending.

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New York AG launches crypto inquiry

04/17/18

New York Attorney General Eric Schneiderman asked 13 cryptocurrency exchanges for detailed information about their operations as part of a "fact-finding inquiry."

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Goldman finally reveals more of its big plans for consumer banking

04/17/18

The Wall Street giant's acquisition of the app maker Clarity Money is only one part of a long-term strategy to build a digital retail bank from the ground up.

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Mercantile in Mich. reports profit despite smaller balance sheet

04/17/18

Though total loans and deposits were down from the end of 2017, management expressed optimism that things will pick up over the rest of this year.

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Regionals outflanked by big banks in battle for deposits

04/17/18

The divide highlights a lingering question about how much commercial and retail depositors value cutting-edge technology over price — and whether midsize banks can keep pace with bigger rivals when it comes to tech investments.

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Repeal of CFPB rule could still leave car lenders on the hook

04/17/18

As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority.

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