News Topic: Bankruptcy Blogs

For the second time in three years, the Cleveland thrift has received a low score on its Community Reinvestment Act examination for making too few home loans in low-income communities. ... Read full article

Cold, hard cash is inevitably going away. Banks have a responsibility to help consumers who don’t have smartphones or even email addresses be prepared, says Shawn Rose, chief digital officer of Scotiabank. ... Read full article

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student-loan ... Read full article

Less than half of consumers believe financial services providers adequately protect their personal information, according to an Arizent survey. Banks such as Wells Fargo and Bank of Idaho are offering mobile tools and cybersecurity education that could ... Read full article

The industry will have to contend with thin margins on either side of the aisle in Congress and new priorities from regulators, experts said in a panel discussion held as part of CUNA's online Governmental Affairs Conference. ... Read full article

How consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization. ... Read full article

The new directors are Ime Archibong, whose team builds and tests mobile apps at Facebook, and Craig Williams, president of the Nike product line named after former NBA superstar Michael Jordan. ... Read full article

Sens. Elizabeth Warren and Sherrod Brown urged regulators not to give in to industry requests to extend a temporary policy easing compliance with the supplementary leverage ratio. ... Read full article

An industry founded to provide affordable financial services to those of modest means needs to do a much better job of recruiting Black, Latino and other minorities to the workforce and the member base. ... Read full article

Bipartsan legislation introduced Monday would permit loans made as part of the COVID-19 relief effort not to county against limits on member business lending. ... Read full article

The Federal Reserve is intensifying its scrutiny of banks' efforts to shed their reliance on the London interbank offered rate, and has begun compiling more detailed evidence on their progress, according to multiple people with knowledge of the ... Read full article

After hiring two Goldman executives, the retailer could be looking to partner with more banks or become one; the buy now-pay later company is now worth $31 billion and seeking acquisitions. ... Read full article

The bank’s new holding company, Amalgamated Financial Group, is the first publicly traded financial services company to become a public benefit corporation. It says the legal designation will help officers and directors balance the interests of ... Read full article

During the Trump era, the bank regulators couldn’t see eye to eye on how to modernize the Community Reinvestment Act. But a looming leadership change atop the Office of the Comptroller of the Currency is boosting optimism that they can harmonize their ... Read full article

The payment processing company will offer loans and deposit accounts to its small-business customers through a Utah-based industrial bank. ... Read full article

The bank's purchase of Sodak Home Loans in Sioux Falls, S.D., adds to a string of bank deals for mortgage lenders this year. ... Read full article

The pandemic is likely to dominate the discussion during CUNA’s online Governmental Affairs Conference, but perennial issues such as the industry’s tax exemption will also be spotlighted. ... Read full article

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments. ... Read full article