News Topic: Bankruptcy Blogs

The two agencies proposed amending the Bank Secrecy Act to lower the threshold for transfers occurring outside the U.S. that trigger recordkeeping requirements. ... Read full article

What's behind the unlikely First Citizens-CIT deal; ex-Trump adviser Gary Cohn predicts bleak future for community banks; midsize banks gird for loan defaults, more margin pressure; and more from this week's most-read stories. ... Read full article

The Memphis company is looking to take out more costs than initially planned due to the economic uncertainty brought on by the coronavirus pandemic. ... Read full article

The credit union regulator will meet for a second time this month when the board holds an open meeting on Wednesday. ... Read full article

Foreign banks for years have been using technology that folds several communication and information-sharing capabilities into one platform. Now Citigroup and others here are showing interest because of the growing importance of digital in the pandemic. ... Read full article

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche. ... Read full article

Citigroup said Peter Charrington, global head of private banking, will leave to spend more time with family and pursue new opportunities. ... Read full article

The company will close nine branches over the next three months. ... Read full article

The bank said the move will give it more flexibility for raising capital. ... Read full article

The assertion by former Goldman Sachs executive Gary Cohn that smaller banks won't be viable in a high-tech world overlooks their success in partnering with fintechs, according to the Independent Community Bankers of America. ... Read full article

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit. ... Read full article

The bank is also taking $174 million in pay from executives, including its current and former CEOs; civil rights groups say the new rule will make it harder to prove housing discrimination. ... Read full article

Wells Fargo is exploring the sale of its asset-management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter. ... Read full article

Kicking off its Rising Stars Week, The Bond Buyer announces the 2020 class and sits down with three newly-minted members to discuss the muni market's adaptation to and recovery from pandemic-driven challenges. ... Read full article

When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly. ... Read full article

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers. ... Read full article

Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation. ... Read full article

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say. ... Read full article