News Topic: Bankruptcy Blogs

The bank is close to an agreement with Cerberus’s French banking outfit; the two-day, first-of-its-kind sale attracted a winning bid that was 21% higher than the market price. ]] ... Read full article

A new report from the regulator shows slower growth in membership and lending, as well as a decline in the number of credit unions reporting profits. ]] ... Read full article

The Federal Reserve will determine within days whether to extend the easing of the supplementary leverage ratio for big banks past March 31, Chairman Jerome Powell says. And it's a couple of weeks away from announcing whether there will be limits on ... Read full article

The American Fintech Council and the Financial Technology Association say they’ll promote responsible innovation, fair access to financial services and more. Their dozens of members include some of the biggest names in fintech. ]] ... Read full article

Jelena McWilliams, a Trump appointee, pushed back Wednesday on reports that an incoming Democratic majority may be able to enact policy at the Federal Deposit Insurance Corp. without her support. "The chairman really controls the board agenda," ... Read full article

OK, so you’re a sophisticated lending attorney in Metropolis who is comfortable with everything from aircraft financing to syndicated loans secured by casinos in Macau. Yet you feel a twinge of uncertainty when a business loan is to be secured by wine ... Read full article

"On streets, online and in many Asian-owned small businesses, we are seeing physical assault, verbal harassment and refusal of service," the JPMorgan Chase CEO wrote in a memo to staff. "These racist acts cannot — and will not — be ... Read full article

Showcasing contactless ATM access and enabling easier use of stimulus funds are among the ways the megabank and digital upstart are tailoring services to customers acquired during the pandemic. ]] ... Read full article

The IRS, FDIC and more than 70 banks and credit unions are urging consumers to open affordable accounts so they can receive their Economic Impact Payments quickly and safely. Many people have signed up, but millions lack accounts and will be harder to ... Read full article

Slips readers will be interested in Matt Levine's column today , which takes a deep dive into the recently failed Greensill's lending against “prospective receivables,” which is kind of like lending against my prospective estate in Scotland. ... Read full article

Wells Fargo Chief Executive Charlie Scharf said he sees the U.S. economy coming back from the coronavirus pandemic in a strong way in the second half of the year. ]] ... Read full article

Federal Savings Bank, the Chicago bank that lent millions of dollars to Paul Manafort under its founder and former longtime CEO, has now sued the former Trump campaign chairman and his wife, seeking to foreclose upon his mansion in the Hamptons. ]] ... Read full article

The Ohio Democrat and chairman of the Senate Banking Committee told a virtual gathering of the American Bankers Association that FedAccounts, a plan opposed by industry trade groups, will lead to more bank customers. ]] ... Read full article

Providing incentives for banks to transition legacy loan contracts from the London interbank offered rate to the new Secured Overnight Financing Rate, as New York Gov. Andrew Cuomo’s proposed budget does, is a gift to megabanks and limits pricing options ... Read full article

A new study from Black Kite outlines a variety of threats facing the industry and pinpoints the average cost of a breach at large and small institutions alike. ]] ... Read full article

First Internet CEO David Becker used to be dismissive of the Small Business Administration. But after getting to know some of the borrowers during the pandemic — and after his bank collected hefty fees from selling 7(a) loans — he's become a convert. ... Read full article

By an overwhelming majority, the House approved a two-month extension of the Paycheck Protection Program, which still has almost $93 billion left to distribute. ]] ... Read full article

JPMorgan Chase scrubbed its bylaws of gender designations as pressure grows from both society and investors on global businesses to show they are diversifying and becoming more inclusive. ]] ... Read full article