News Topic: Bankruptcy Blogs

Wells Fargo is dropping the Abbot Downing name for managing ultrarich clients’ money as wealth and investment management head Barry Sommers remakes the unit. ... Read full article

Biden’s CFPB and SEC choices move to the full Senate following mostly party-line banking committee votes; the bank is making a 10-year commitment to channel capital to benefit Black women. ... Read full article

The social media platform skews toward a more youthful demographic, while credit unions' average member age has been stuck in the late 40s for decades. But even institutions that use it have concerns about security. ... Read full article

Indiana Members CU will expand its reach later this year following completion of a proposed combination with Members Choice FCU. ... Read full article

The Delaware company would remove a rival, gain scale in affluent Philadelphia suburbs and accelerate its transformation from a branch-heavy lender to a digital-first bank with the $976 million acquisition. ... Read full article

Legislators expressed concerns that thousands of pending applications are stuck in limbo just weeks before the Small Business Administration is legally required to stop accepting them. ... Read full article

Many in Washington have been in suspense about whether the Biden administration would favor a former Obama official or a financial inclusion advocate for comptroller of the currency. Mehrsa Baradaran, the candidate preferred by community activist groups, ... Read full article

M&T Bank, Citizens Financial and Huntington Bancshares are playing it safe even as some of their counterparts have started to trim allowances in response to government stimulus efforts and rapid progress in the rollout of the coronavirus vaccine. ... Read full article

The nominations of Rohit Chopra as head of the Consumer Financial Protection Bureau and Gary Gensler as chairman of Securities and Exchange Commission advanced Wednesday and will now be voted on by the full Senate. Earlier in the day, the Senate confirmed ... Read full article

“Supervised firms that are not making adequate progress in transitioning away from Libor could create safety and soundness risks for themselves and for the financial system,” a Fed division director said. ... Read full article

Square, LendingClub and SoFi are among the upstarts that once positioned themselves as outsiders but now seek to challenge banks more directly. Here's how they're doing it. ... Read full article

The House Financial Services chair joined other Democrats to warn the federal agencies against further easing of the supplementary leverage ratio, a key capital requirement for large banks. ... Read full article

Citigroup is punishing investment firms that kept payments the bank accidentally sent to Revlon lenders by blocking them from certain new debt offerings led by the bank, according to people with knowledge of the matter. ... Read full article

Andrew Harmening, who oversaw Huntington's digital strategy, will succeed the retiring Philip Flynn as president and CEO of the Wisconsin regional bank in April. ... Read full article

The Delaware company's pending purchase will create a bank with $43 billion of assets under management. ... Read full article

The Arizona Fintech Council, an organization of banks, economic and technology groups, will encourage collaboration and access to the state's regulatory sandbox to promote a version of Europe's open banking policy in the U.S. ... Read full article

Goldman Sachs Group said it will commit $10 billion in investment capital over the coming decade to help address the disproportionate biases that Black women have faced for generations. ... Read full article

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone ... Read full article