News Topic: Bankruptcy Blogs

Organizers of the proposed Our Community Bank have received conditional approval that requires them to raise $18 million before opening. ... Read full article

With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs. ... Read full article

Bank of America Chief Executive Brian Moynihan said the company is confident in its growth prospects even as competition intensifies from fintechs including Walmart’s startup. ... Read full article

Longtime leader John Young plans to retire at the end of 2021, and the credit union has hired Humanidei to find a replacement. ... Read full article

There are ways to remove bad actors from the industry — such as reinstating the Consumer Financial Protection Bureau’s payday lending rule and banning certain fees and collection practices — without hindering consumers’ access to emergency credit. ... Read full article

Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting. ... Read full article

A fun new book applies a revealing Law & Order analysis to the multi-billion-dollar, knock-down-drag-out reorganization of Caesar's Palace. ... Read full article

Women now account for half of Citigroup's 16-person board, the most of the 20 largest global banks, after Michael Corbat stepped down as CEO and was replaced by Jane Fraser. ... Read full article

The Indiana company said the move reflects a need to cut costs and customers' increased preference for digital channels. ... Read full article

Walter Kaczmarek, who ran the bank from 2005 to 2019, will also serve as interim president following the retirement of Keith Wilton. ... Read full article

The Honolulu company said the "non-public, fact-finding inquiry" by the Securities and Exchange Commission focuses on its calculations for earnings per share. ... Read full article

The former acting comptroller of the currency will help the technology company move its secure data exchange technology into the financial market. ... Read full article

Payservices would use deposits largely to support its existing business. It has no plans to make loans. ... Read full article

The payments processor is now the most valuable private tech company every, surpassing Facebook; some investors are not happy that the bank raised bonuses and CEO pay by 46%. ... Read full article

After digging deep into member data, Randolph-Brooks FCU in Texas developed a marketing campaign aimed at persuading JPMorgan Chase clients to switch to the credit union's own card. It's an effort its peers could imitate. ... Read full article

Since late last year, a number of large and regional banks have either replaced their CEOs or announced plans to do so in the coming weeks. Here’s an introduction. ... Read full article

I used my phone to remotely deposit a check today at Bank of America. Before I was able to proceed with the transaction, however, Bank of America required me to agree to new terms and conditions for mobile deposits. The terms and conditions were presented ... Read full article

The Federal Reserve announced it would extend the Paycheck Protection Program Liquidity Facility until June 30; CFPB delays mandatory compliance date for a new Qualified Mortgage standard; Mehrsa Baradaran emerges as top contender to lead OCC; and more ... Read full article