Bankruptcy Blogs

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Confirmed: As expected, Goldman Sachs named David Solomon and Harvey Schwartz as presidents and co-COOs to replace Gary Cohn, who is leaving to join the Trump administration. The naming of two co-presidents to replace Cohn "raises questions about the structure and strategic direction of the company," the Financial Times says, and suggests "a return to a traditional structure that pits an executive from the trading side of the business against one from...

Banks should embrace artificial intelligence so that they can more easily navigate policy shifts that will affect their compliance resources and processes.

Judicial review of regulators' economic analyses can help validate whether a rule will solve a real problem at a reasonable cost.

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Suspended: Prudential Financial said it suspended sales of its MyTerm life insurance policies through Wells Fargo following allegations that Wells employees wrote policies without customers' permission and withdrew money from their bank accounts to pay the premiums. Many of the victims did not speak English, according to a suit filed by three former Prudential employees, who claim the company tried to hush up the scandal. Prudential said Monday it would reimburse any...

While other banking laws may be headed to the chopping block, the Community Reinvestment Act can address the needs of communities defined by their economic struggles.