Bankruptcy Blogs

Equifax follows Wells' crisis management playbook — with a twist

09/26/17

Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators.

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RBC’s stab at fixing what’s broken in personal financial management

09/26/17

Separate apps for banking and PFM are too much for most customers to handle, so the Canadian bank is adding automated advice and savings to mobile banking — and it’s relying on artificial intelligence and predictive analytics to make it all work.

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How Ellen Alemany is reinventing CIT

09/26/17

American Banker's No. 3 Most Powerful Woman in Banking is embracing a major challenge in molding a commercial finance company with a spotty history into a profitable, middle-market bank.

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Greatest Bankruptcy Case Name Ever?

09/26/17

This morning I saw a docket for a bankruptcy case captioned In re Kabbalah Taxi, Inc.  Look for the cab with the little red thread around its mirror. If you meditate properly on the Tetragrammaton you will be teleported to your destination, although there are special fees for bridges and tunnels. I suppose the company competes with the Magic School Bus and the Chariot of Fire. Or it might just be a yeshivah bukher with a side job.

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CenterState in Fla. taps next bank president

09/26/17

Mark Thompson had previously been a CenterState regional president overseeing the south Florida market.

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The last thing Equifax needs is leadership continuity

09/26/17

Inevitably, Equifax’s CEO Richard Smith has left his post. For the credit bureau's sake, let's hope it has a long-term plan that's better than promoting from within.

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SunTrust to sell commercial insurance premium business

09/26/17

The sale of the $1.4 billion-asset Premium Assignment Corp. to IPFS is expected to close in the fourth quarter.

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As synthetic CDOs roar back, a young Citi trader makes her name

09/26/17

Jia Chen has spent the past two years meeting clients, speaking at industry panels and becoming the face of a resurgent market for synthetic CDOs. Along the way, she's helped establish Citigroup as its dominant player.

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‘Fearless Girl’ is more than just public art: Maria Vullo

09/26/17

The Fearless Girl sculpture represents much to many. For Maria Vullo, superintendent of the New York State Department of Financial Services, it is a reminder of herself as a girl finding her voice and as an adult using her voice to fight for what she believes is right.

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Equifax chief resigns after data theft; interim successor named

09/26/17

Richard Smith has resigned from the embattled Atlanta credit reporting company and will be replaced by Paulino do Rego Barros Jr., a seven-year company veteran. Board member Mark Feidler, a former telecom executive, was named nonexecutive chairman.

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