News Topic: Bankruptcy Blogs

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes. ... Read full article

To date, the Small Business Administration hasn’t acted on tens of thousands of applications that lenders have submitted since early August. However, it will begin doing so by early next week, an official says. ... Read full article

Atlantic Community Bankers Bank must improve its anti-money- laundering and Bank Secrecy Act policies and procedures. ... Read full article

Virginia National and Fauquier Bankshares are planning to create a $1.6 billion-asset company focused on the middle part of the state. ... Read full article

The limits on dividend increases and buybacks have been extended until at least the end of the year; the firm promoted two senior executives that worked with CEO Jed Staley at JPMorgan. ... Read full article

The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck. ... Read full article

More than 500 JPMorgan Chase employees got assistance from taxpayers aimed at helping businesses through the pandemic — and dozens of them shouldn't have, according to people with knowledge of the firm's internal investigation. ... Read full article

A new initiative from the Minnesota Credit Union Network to help deepen share of wallet is believed to be the first of its kind and could be a model for credit union leagues in other states. ... Read full article

Four global banks have joined American Express Ventures in contributing to BioCatch’s Series C fundraising round and earning themselves seats on its newly formed Client Innovation Board. ... Read full article

The Federal Reserve will continue its ban on share repurchases for banks with more than $100 billion of assets into the fourth quarter and will cap dividend payments using a formula based on recent income. ... Read full article

The central bank issued a proposal aligning recent stress testing changes with supervisory standards that are tailored to an institution's size and complexity. ... Read full article

Goldman Sachs is resuming job cuts as the coronavirus pandemic outlasts the financial industry’s resolve to offer jittery employees stability through the economic downturn. ... Read full article

Robert D. Ramirez has accepted the top job at the South Florida credit union as it attempts to turn around following a steep decline in earnings and a jump in charge-offs. ... Read full article

Regulators have approved the Colorado institution's bid to serve consumers across three different counties. ... Read full article

A new watchdog report finds that prior to 2015, the Office of the Comptroller of the Currency missed numerous opportunities to address misconduct at the San Francisco bank. ... Read full article

Investors in two subordinated bonds from Lehman Brothers received word that a payment is coming, just two weeks after the 12th anniversary of one of the world’s most spectacular banking collapses. ... Read full article

A survey conducted by the Conference of State Bank Supervisors found that concerns about operating conditions have led a large percentage of small banks to steer clear of acquisitions and new tech investments. ... Read full article

Harit Talwar, who is moving from CEO of the digital banking unit to chairman of consumer banking, says Marcus wants to add checking and investment products, embed its offerings in additional high-profile platforms, and grow far beyond its current 5 million ... Read full article