News Topic: Bankruptcy Blogs

Lenders want Congress to bring back incentives used during the last recession, such as bigger subsidies and reduced fees, to jump-start participation in the Small Business Administration's flagship 7(a) program. ... Read full article

The announcement is met with an unusual rebuke from the Fed, which wants the programs to continue; the deal would allow the companies to approve credit and customize services. ... Read full article

Joseph Lebel's promotion follows a third-quarter loss as the New Jersey company company looks to get ahead of credit issues by selling high-risk loans. ... Read full article

If Congress speeds through Brian Brooks’ confirmation in the waning days of the Trump administration, it could make it harder for President-elect Biden to quickly put his stamp on banking policy. ... Read full article

Treasury Secretary Steven Mnuchin called on the Federal Reserve Thursday to let several of its emergency lending facilities expire at yearend and return unused funds provided by Congress. But the central bank wants the programs to continue. ... Read full article

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021. ... Read full article

The league has altered its formula for calculating member dues, a move expected to save credit unions nearly $800,000 next year. ... Read full article

The Federal Reserve is facing pressure to allow retailers to route PIN-less debit-card purchases over their choice of networks. It’s a new stage in an old battle, fueled by the shift toward online shopping during the pandemic. ... Read full article

Just a few months after signaling that provisions for loan losses had peaked, many banks are planning to once again add to reserves to guard against pandemic-related defaults, according to a survey released by IntraFi Network. ... Read full article

The company's new relationship with Billshark highlights its quest for partners that can deliver financial management products to complement its banking services. ... Read full article

American Challenger Bank would offer consumer and commercial products using technology from Temenos. Organizers recently applied with the FDIC for deposit insurance. ... Read full article

Bank of America will help Cornell University expand an online training course aimed primarily at Black and Hispanic women who want to start their own companies, as part of the bank's $1 billion racial justice commitment. ... Read full article

Richard Yeager's promotion comes at a time of growth for the New York-based institution, including having recently been granted a field-of-membership expansion. ... Read full article

The two mortgage companies would need capital of $283 billion to absorb losses before going public, its regulator says; the 50% rise in just 30 days has some worried about another crash. ... Read full article

The Ohio company will benefit after settling unpaid judgments tied to nonperforming loans at a bank it bought before the last financial crisis. ... Read full article

Community development financial institutions, which tend to be less digitally savvy than traditional banks and credit unions, are developing online-lending platforms and automating backroom processes with investments and technical assistance from big ... Read full article

The success of some fintechs in getting bank charters this year only underscores how onerous the process remains for many others. That’s unlikely to change unless policymakers reconsider what it means to be a bank. ... Read full article

The Trump administration has moved forward on a plan to privatize Fannie Mae and Freddie Mac, but Joe Biden appointees could take steps to slow or stop their release from conservatorship. ... Read full article