News Topic: Bankruptcy Blogs

A planned combination with Premier Federal Credit Union in Greensboro, N.C., will expand the Charlotte-based credit union's reach in the Tar Heel State. ... Read full article

Gov. Michelle Bowman said the agency's analysis of certain deals should weigh the competitive threats posed by technology companies and nonbanks. ... Read full article

Noninterest income from Paycheck Protection loans and mortgage refinancings isn't enough to make up for shortfalls elsewhere, and growth prospects are hard to identify. ... Read full article

In a volume that is decades in the making, retired law professor Art Wilmarth tells the story of the Glass-Steagall Act — its origins, demise and aftermath. He also makes a case for restoring the separation between banks and securities firms, arguing that ... Read full article

Citigroup unexpectedly lost a legal battle to recover half a billion dollars it sent Revlon lenders, after the embarrassing blunder forced it to answer to regulators and tighten its internal controls. ... Read full article

About 19 million loans, worth $7 trillion, are still strong candidates for refinancing; the pandemic has demonstrated the need for banks to close branches and cut jobs. ... Read full article

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year. ... Read full article

Others, like JPMorgan Chase, have shut down their mobile-only brands. But Rising Bank, Midwest BankCentre's three-year-old neobank, is meeting its deposit goals, adding new products and avoiding cannibalization, says Dale Oberkfell, the bank's ... Read full article

Sundie Seefried, one of the credit union industry's foremost experts on cannabis banking, will transition to a new role this summer, leading a new venture serving the legal marijuana space. ... Read full article

Others, like JPMorgan Chase, have shut down their mobile-only brands. But Rising Bank, Midwest BankCentre's three-year-old neobank, is meeting its deposit goals, adding new products and avoiding cannibalization, says Dale Oberkfell, the bank's ... Read full article

Bank of America and Citigroup trimmed compensation for their chief executives in 2020, a year in which banks exercised restraint in compensating employees as the pandemic ravaged the economy. ... Read full article

Noninterest income from Paycheck Protection loans and mortgage refinancings isn't enough to make up for shortfalls elsewhere, and growth prospects are hard to identify. ... Read full article

About 19 million loans, worth $7 trillion, are still strong candidates for refinancing; the pandemic has demonstrated the need for banks to close branches and cut jobs. ... Read full article

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year. ... Read full article

Big banks, Big Tech face off over interchange fees; majority of Paycheck Protection Program loans going to second-time borrowers; debate on the next OCC chief has glossed over flaws in the agency’s funding structure; and more from this week’s most-read ... Read full article

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity. ... Read full article

Nineteen of the nation's largest banks must show how they'd withstand pressures in the commercial real estate and corporate debt markets that would accompany a severe global recession. ... Read full article

Banks have diverted resources from traditional Small Business Administration lending to make Paycheck Protection Program loans, but many are taking steps to rev up 7(a) and 504 lending once the PPP winds down. ... Read full article