News Topic: Bankruptcy Blogs

At least two items on the industry's Paycheck Protection Program wish list were delivered: provisions allowing many existing borrowers to obtain new funding and streamlined forgiveness for loans of $150,000 or less. ... Read full article

When Mastercard and Visa cut ties with Pornhub in December, it was abrupt but unsurprising. The banking and payments industries have had a long and conflicted history with adult content. ... Read full article

There’s an alarming gap between how small and large banks view the importance of digital engagement, according to a recent survey by Celent and Arizent. ... Read full article

The central bank said banks could withstand as much as $600 billion in pandemic-related loan losses; Fidelity National and Global Payments aborted talks about a $70 billion merge. ... Read full article

Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market. ... Read full article

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says. ... Read full article

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up. ... Read full article

The $10 billion portfolio of what are described as high-quality private student loans will be serviced by Nelnet. ... Read full article

I submitted comments to the OCC about its proposed rulemaking regarding Fair Access to Financial Services. I previously blogged on the topic here and here. ... Read full article

It's time to say it loud and clear: the OCC is a problem agency. ... Read full article

This is the first time the agency has had a vice chairman since 2014. ... Read full article

The Federal Reserve's “mid-cycle” assessment — conducted in light of the uncertainty posed by COVID-19 — showed that several banks would maintain just the bare minimum level of capital under hypothetical scenarios. ... Read full article

The spending plan passed in a party-line vote, but board member Todd Harper's objections indicate he could push for closer oversight if President-elect Joe Biden elevates him to the chairmanship. ... Read full article

What President-elect Biden’s pledge to forgive student loans means for consumer lenders; Huntington agrees to buy TCF Financial for $6 billion; banks play catch-up as customer shift to digital accelerates; and more from this week’s most-read stories. ... Read full article

Speaking at a virtual event hosted by the Center for American Progress, Federal Reserve Gov. Lael Brainard said the agency is also seeking feedback on how the Community Reinvestment Act could be used to encourage lenders to invest in climate resiliency. ... Read full article

Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state. ... Read full article

The amendment backed by Sen. Pat Toomey and other Republicans to block the central bank from reviving CARES Act lending facilities has emerged as a flashpoint in congressional negotiations over pandemic relief. ... Read full article

The agency's rule outlines steps collectors must take to inform consumers about an outstanding debt, and prohibits companies from pursuing lawsuits after a statute of limitations has ended. ... Read full article