Bankruptcy Blogs

Upstart (that's the name) raises $32.5M, seeks to license tech to banks

03/02/17

The San Carlos, Calif., firm is following a similar blueprint as other online lenders — launching with a particular loan product, refining its algorithms, and then seeking to expand into other corners of consumer finance.

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Arbitrating the Discharge

03/02/17

The Second Circuit currently has a pending case (Anderson v. Credit One Bank, No. 16-2496) that raises the question of whether an alleged violation of the bankruptcy discharge injunction is subject to a predispute arbitration agreement. Professors Ralph Brubaker and Bruce Markell have joined me on an amicus brief explaining why the answer has to be "no." You can download the brief from SSRN.

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Fed approves Morgan Stanley's revised capital plan

03/02/17

After questions arose after the 2016 Comprehensive Capital Analysis and Review stress test, the Fed said Thursday that it would not object to the bank’s resubmitted capital plan.

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Auditor spots 'material weakness' in Webster's internal controls

03/02/17

KPMG said Webster did not properly document a change in the way it calculates its provision for loan losses. The bank does not expect to restate its financial results or incur any meaningful increase in costs because of the problem.

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Fed commodities plan violates congressional intent, banks say

03/02/17

A Federal Reserve proposal to set higher capital requirements for certain physical commodities may contravene Congress’ intent by making possession of those assets financially untenable, financial groups claim.

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Senators to Sessions: Leave pot enforcement up to states

03/02/17

Eleven senators sent a letter to Attorney General Jeff Sessions asking him not to enforce federal pot laws in states that have legalized marijuana.

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Banks are sold on blockchain, concerned about collaboration

03/02/17

Bank blockchain leaders say the technology is solid and privacy's been solved mostly. They’re focused now on integration, collaboration and saving money.

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JPM's Lake on Dodd-Frank; Toxic workplaces and gender pay gaps

03/02/17

While JPMorgan Chase’s Marianne Lake looks forward to the Trump administration relaxing regulations, Mary Callahan Erdoes emphasizes the limitations of robo-advice. Alice Dittman of Cornhusker Bank shares her philosophy about building trust with customers, Hazel Moore of FirstCapital worries about the toxic work culture in investment banking, and the gender pay gap persists even when women outperform men.

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Choisir la banque la plus appropriée en les comparant

03/02/17

Vous en avez assez devoir payer des frais bancaires pour pas grand chose, vous vous sentez pris à la gorge lorsque vous êtes en découvert ou pour des frais que vous qualifieriez d’injuste et cela peut se comprendre car dépenser de l’argent pour pouvoir dépenser SON argent cela fait parfois un peu beaucoup … surtout […]

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Brown wants Trump’s businesses investigated for AML violations

03/02/17

Any money laundering investigation could ultimately entangle banks that have done business with President Trump and his various firms over the years.

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