News Topic: Bankruptcy Blogs

The $235 million acquisition will bring CEO Jared Wolff's company a trove of cheap deposits and the chance to slash costs without having to significantly change its business model. ]] ... Read full article

The company agreed to buy Legacy Bank of Florida for $102 million. ]] ... Read full article

Bank of America, Wells Fargo and JPMorgan Chase also received high marks for transparency in reporting how they are paying women and employees of color, but Goldman Sachs, KeyCorp and Citizens Financial Group still have work to do, according to the ... Read full article

Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state. ]] ... Read full article

CUNA Mutual Group's latest Credit Union Trends Report shows consumers continue to deleverage thanks to stimulus payments and cash-out refinancing, though membership picked up slightly. ]] ... Read full article

Paul Marsh resigned as president and CEO of the South Bend, Ind., credit union on Tuesday after 30 years there. An interim chief has been named and the board is searching for a permanent successor. ]] ... Read full article

Non-fungible tokens are taking the digital world by storm. They could displace traditional payment rails, but they could also be a handy tool for cybercrooks. ]] ... Read full article

The New York company is seeding savings accounts offered by the challenger bank Goalsetter as a way to help minority communities as well as use technology to start building long-term relationships with young consumers. ]] ... Read full article

Top officials at the U.S. central bank and Treasury Secretary Janet Yellen reaffirmed their commitment to understand how extreme weather events affect financial institutions and the economy as a whole. Many Republicans, however, worry the Federal ... Read full article

The agency's plan would strengthen requirements that banks use a minimum amount of their real estate for the business of banking, but three grade groups say banks need flexibility in the pandemic to manage occupancy. ]] ... Read full article

Goldman Sachs Group didn’t use discriminatory practices when deciding whether to extend credit to prospective customers of its Apple Card, said the New York State Department of Financial Services. ]] ... Read full article

Lawyers defending two men accused of defrauding banks into processing pot purchases said banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online. ]] ... Read full article

Smith Shellnut Wilson has managed Business First's investment portfolio since the bank was formed 15 years ago. ]] ... Read full article

Citigroup Chief Executive Jane Fraser has barred internal video calls on Fridays and encouraged vacations in an effort to combat workplace malaise brought on by the coronavirus pandemic. ]] ... Read full article

Almost $2 trillion of debt pegged to dollar Libor, much of which can’t easily be shifted to an alternative benchmark, won’t mature until after the discredited rate expires in mid-2023, according to the Federal Reserve-backed group guiding the transition. ... Read full article

Powell says the Fed won't move forward without approval from Congress; the Fed's vice chair for supervision tells banks not to use the tainted benchmark on any new deals after this year. ]] ... Read full article

Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be ... Read full article

Legacy contracts using the London interbank offered rate — which is set to be phased out at the end of this year — were granted a reprieve to mid-2023. However, there is no wiggle room on when the rate will expire for new deals, said Federal Reserve Vice ... Read full article