News Topic: Bankruptcy Blogs

Turnaround times on loans in the 504 program are stretching out for weeks as the Small Business Administration grapples with a spike in applications and responsibilities tied to the Paycheck Protection Program. ... Read full article

While JPMorgan Chase’s chief executive would like the bank’s employees to get the COVID-19 vaccine, he said it’s unlikely to require the shots at least for now. ... Read full article

Four former employees and several clients of Washington Federal Bank for Savings face charges of falsifying records to conceal the embezzlement of $31 million prior to the bank's December 2017 collapse. ... Read full article

For too long, the Consumer Financial Protection Bureau's rulemaking process has been informed by its director's political affiliation. The next leader must keep the agency focused on its mission: protecting consumers. ... Read full article

The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020. ... Read full article

The Pensacola, Fla.-based credit union's newest chief executive has helmed two other CUs over the course of more than two decades in the industry. ... Read full article

The Credit Union National Association’s Governmental Affairs Conference, normally the industry's biggest annual event, will be held this week in a virtual setting, a change that would have seemed unthinkable one year ago. ... Read full article

Citigroup is one of the world's largest lenders to the fossil fuel industry, but CEO Jane Fraser vowed on Monday that the bank would achieve net-zero greenhouse-gas emissions in its financing activities by 2050. ... Read full article

The company has agreed to pay $43 million for a bank with $354 million in assets. ... Read full article

Citigroup restated fourth-quarter results after writing down a portion of a loan to Revlon it now owns after losing a court battle. ... Read full article

Jane Fraser, the first woman to head a U.S. mega bank, tries to refresh Citigroup; Omer Ismail, the head of its Marcus unit, will head the retail giant’s new fintech startup. ... Read full article

Omer Ismail was a key architect of Goldman Sachs's consumer efforts in recent years and David Stark inked the bank's partnership credit card partnership with Apple. ... Read full article

Already contending with stressed retail, hotel and restaurant loans, bankers are beginning to view office lending — historically a safe bet — as increasingly risky as companies of all types rethink their space needs. ... Read full article

Community banks, which for years have relied heavily on commercial real estate lending, have been tightening underwriting standards, conducting more-frequent loan reviews and stepping back from certain subsectors to minimize their credit exposure. ... Read full article

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The Biden administration could substantially reduce the number of "credit invisible" and "thin file" consumers without legislation, simply through a determined use of federal contract regarding multi-family mortgages and wireless ... Read full article

Michael Corbat’s departure comes as Citigroup is facing fresh scrutiny from regulators about its underlying technology and internal controls, work that will continue on incoming CEO Jane Fraser’s watch. ... Read full article

The regulator issued a prohibition order to Joseph Guagliardo, who admitted to taking more than $400,000 from the New York City-based institution over the course of nearly a decade. ... Read full article