News Topic: Bankruptcy Blogs

The Oregon bank has launched a new division targeting businesses with up to $15 million in annual sales and tapped the banker who led its Paycheck Protection Program lending, Ashley Hayslip, to run it. ... Read full article

The consumer bureau said the bank’s migration to a new servicing platform led to unauthorized payment withdrawals, misrepresentations about what borrowers owed and violations of a prior 2015 enforcement action. ... Read full article

Rosemary Vrablic, who worked in the private banking division, helped manage Trump’s relationship with the bank as it lent hundreds of millions of dollars of loans to Trump’s company over a number of years. ... Read full article

The Federal Reserve and the New York State Department of Financial Services have ordered the Swiss bank’s U.S. arm to improve oversight and better monitor the activities of its customers. ... Read full article

Congress’s passage of a measure requiring startup companies — instead of their banks — to identify true owners was arguably the industry’s biggest legislative achievement in 2020. Now the industry is urging lawmakers to revisit proposals that would ease ... Read full article

This oldest consumers in this next group are approaching their mid-20s, so financial institutions must think about tweak their marketing if they hope to reach them in an meaningful way. ... Read full article

The company will pay $20 million in cash for a bank with two branches and $58 million of loans. ... Read full article

The company did not disclose the nature of the suit, but CEO Brad Garlinghouse has long disputed the Securities and Exchange Commission's claim that XRP is a security, not a currency. ... Read full article

The application rate for new cards has fallen 10 points to just under 16%, the lowest level since 2013; small businesses that got loans last time would be eligible for a second helping, with limits. ... Read full article

In 25 years at the helm, Brian Hall helped the Southern California credit union grow from $48 million of assets to nearly $600 million. ... Read full article

Demand for home purchases and car loans would need to increase substantially to make up for what's expected to be a sharp drop in refinancing revenue. ... Read full article

The bank's release from a five-year-old enforcement action would mark progress in CEO Charlie Scharf's efforts to resolve its sprawling regulatory problems. But 10 more consent orders, including an asset cap imposed by the Federal Reserve in ... Read full article

Venture capitalists will shift their focus to fintechs that support financial inclusion, according to Emmalyn Shaw, managing partner of the VC firm Flourish. Meanwhile, challenger banks will continue to grow, she says. ... Read full article

Under the Federal Reserve’s loosened restrictions, big banks can buy back a limited amount of their stock starting next quarter, but only JPMorgan Chase has announced detailed plans to do so. ... Read full article

The pandemic and social unrest made 2020 one of the most challenging years in recent memory, but there is much the industry can learn from the past 12 months. ... Read full article

Citigroup promoted 70 women in its latest class of managing directors, the most ever but still less than a third of the total. ... Read full article

Sarah Canepa Bang will serve as a senior advisor to the agency's vice chairman. Separately, a 27-year veteran of the regulator announced plans to retire. ... Read full article

The pandemic has forced Bank of America, Chase, PCSB and other banks to find new ways to maintain connections with their customers and communities. ... Read full article