Bankruptcy Blogs

Community Banks to Elizabeth Warren: We Need Your Help

10/14/16

Warren's voice is powerful in criticizing big banks, but she could play a more active role in providing relief to community banks to help boost job creation.

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Morning Scan: Wells Crisis Analyzed; JPM' $6.3B Profit

10/14/16

Breaking News This Morning ...

Earnings season opens: Analysts are expecting a "downbeat" third quarter from U.S. banks, which began reporting earnings results on Friday. The combined profits for the big six banks are expected to fall about 9% to $20.1 billion compared to the same period last year, the Financial Times says. One reason is a 0.1% decline in business lending. "Although small, the contraction from the prior quarter is the first such drop in...

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Ironic Observation of the Day, CFPB Edition

10/14/16

I just want to observe the irony that while the anti-consumer echo chamber was jumping up and down in joy over the ruling in PHH v. CFPB (see, e.g., here, and here), Wells Fargo's CEO resigned over a consumer financial abuse scandal.  Hmmm.

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Women in Banking: Toasting the Future and Jamie Dimon's Mom

10/13/16

Geena Davis made a rousing speech on unconscious bias at the annual gala for our "Most Powerful" honorees. Sheila Bair writes about the importance of hiring and promoting women, while Ghela Boskovich warns that doesn't necessarily give women a voice in their organizations. Also, Avid Motjtabai, Jamie Dimon, Julie Stackhouse and a real-life Peggy Olsen.

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OCC Deserves More Scrutiny in Wake of Wells Fraud

10/13/16

Without investigations by the Los Angeles Times and city prosecutors, the Wells Fargo account scandal would never have come to light. Where were federal regulators?

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Getting Girls Interested in Tech Could Lead Them to Banking

10/13/16

To help ensure that women are included in digital banking's future, we must reach girls and young women at an earlier age than their college years to equip them with the IT tools they need to succeed in tomorrow's workforce.

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Morning Scan: Stumpf Quits; Living Wills Offer Internal Bailouts

10/13/16

Receiving Wide Coverage ...

Stumpf leaves: Wells Fargo chairman and CEO John Stumpf announced Wednesday he is retiring immediately, as was widely expected following the bank's phony accounts scandal. "The toppling of Mr. Stumpf, 63 years old and just shy of his 10th year as CEO, marks a stunning comedown for a firm that largely passed through the financial crisis unscathed and which was seen as a reliable Main Street lender," the Wall Street Journal commented. ...

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Three Mistakes to Avoid When Closing a Branch

10/12/16

About two-thirds of banks that close branches will lose deposit share in their impacted markets in time. Here's how to prevent customers from leaving your bank.

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A Bank's Data Needs Its Own Balance Sheet

10/12/16

Institutions should define data "liabilities" and "assets" and represent them in a way that both touts data successes and is transparent about data gaps.

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Morning Scan: CFPB Body Blow; Wells Looks to Reboot

10/12/16

Receiving Wide Coverage ... CFPB loses appeal: A federal appeals court ruled Tuesday that the CFPB's structure, in which an unusual amount of power and autonomy is invested in a single director, is unconstitutional and ordered its powers be curbed. "If it stands, the decision from the U.S. Court of Appeals for the District of Columbia would reduce the agency's independence, empowering the White House to supervise the agency and remove its director, in contrast toÂ...

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