Bankruptcy Blogs

Banks that deal with sanctioned Russians could draw U.S. ire

04/10/18

British banks that deal with the Russian oligarchs and companies on a new American sanctions list will face "consequences," according to a senior U.S. Treasury official.

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Facebook’s data problems have an upside for banks

04/10/18

With consumer privacy issues in the spotlight, Citibank is betting its app — as an offering from a trusted data partner — will be more appealing than those from unknown brands or companies that have less liability if security breaches occur.

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JPMorgan invests in risk management fintech

04/10/18

AccessFintech lets financial firms track trades and aggregates data in order to get a sense of risk across a number of systems.

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Bank of America, Harvard form group to promote responsible AI

04/10/18

AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them.

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First Horizon commits $4 billion to community-development lending

04/10/18

Following its acquisition last November of Capital Bank in North Carolina, First Horizon will fund mortgage and small-business lending in low-income areas of the Southeast and expand its vendor relationships with minority-owned firms.

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To capitalize on open banking, the industry needs standards

04/10/18

Developers will struggle to create apps that can be used seamlessly across institutions unless banks can learn to share programming data in a consistent way.

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Digital lender to offer checking with monthly membership fee

04/10/18

For $29 a month, MoneyLion customers will receive a checking account with no minimum balance requirement and will have access to a large a network of ATMs, as well as low-interest personal loans and financial advice.

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CFPB plans big Wells fine; New CEO, same problems for Deutsche

04/10/18

A $1 billion penalty being bandied about; Deutsche’s problems may be too big to eradicate.

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VER Technologies Files for Chapter 11 Bankruptcy Protection

04/10/18

On April 5, 2018, VER Technologies Holdco LLC, along with eight subsidiaries and affiliates (collectively, “VER”), filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (Case No. 18-10834).

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Online lender touts new personal credit line as HELOC alternative

04/10/18

Upgrade's new product, unveiled Tuesday, is aimed at consumers who are expecting a big expense but may not need to borrow all the money at once. Unlike a home equity line of credit, the loan can be approved in minutes because there is no need for collateral or an appraisal process.

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