Banks have not yet finished with the wave of lawsuits stemming from the financial crisis. There are ways they can better ward off those threats next time around.
The San Francisco Fed chief, an economist, is seen as a complement to Fed chair Powell; the proposal would make it easier for banks to comply with the law.
Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans.
The financial services industry and community reinvestment advocates both praised the Treasury Department’s recommendations for reforming Community Reinvestment Act enforcement.
The central bank is taking a lead role in trying to combat the longstanding problem. A broad study by the Fed aims to measure the extent of payments fraud and to foster more collaboration in thwarting it.
Based only this news report, the answer appears to be yes - an Ice Cube Bond would have honored the claimants' need for speed without allowing them to shift all the risk to the bankruptcy estate.
United Community in Georgia tried hiring Lynn Harton in 2006, but he took another job. They kept in touch, and he's now poised to become the company's CEO.
