News Topic: Bankruptcy Blogs

Scharf apologizes for June 16 memo saying there was a “very limited pool of Black talent to recruit from”; the penalty would settle the bank’s culpability in its traders’ spoofing practices. ... Read full article

Before the pandemic emptied the city, few lenders benefited from the heady local real estate market as much as regional players New York Community Bancorp and Signature Bank. Now they're becoming a case study for potential trouble from a sudden ... Read full article

The company has been experimenting with ways to recruit more women and minorities, including a program to hire professionals who had left banking. But CEO Charlie Scharf’s reference to “a very limited pool of Black talent” for important jobs may make it ... Read full article

How mid-size institutions are making a difference for employees and keeping workers engaged during the pandemic. ... Read full article

For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse. ... Read full article

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic. ... Read full article

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC. ... Read full article

A number of months ago now, I listened to a fun podcast episode on Planet Money titled "J. Screwed" about contract shenanigans by J.Crew, as it was making its way into deep financial distress.  I'm fascinated by the exploitation of contract ... Read full article

Artificial intelligence, machine learning and enhanced data sharing among lenders could go a long way toward spotting suspicious patterns in daily financial activity and bad actors, experts say. ... Read full article

JPMorgan Chase is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter. ... Read full article

The Fed chief said that with its Main Street Lending Program, the central bank has “done basically all of the things that we can think of.” ... Read full article

The news media investigation of transactions by nefarious actors puts certain large banks in a negative light, but it also points to inefficient use of suspicious activity reports and other anti-money-laundering issues that the industry has decried for ... Read full article

A pending combination with Animas Credit Union will broaden the Albuquerque-based institution's reach in northern New Mexico. ... Read full article

Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, leading lenders to press landlords to pay up. ... Read full article

JPMorgan Chase is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. ... Read full article

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system. ... Read full article

Citigroup will spend $1 billion over the next three years on efforts to help close the racial wealth gap as it seeks to become an “antiracist institution.” ... Read full article

With staff scattered between working at home and in the office, management at many institutions has taken steps to revamp intranets and launch employee-only Facebook groups to keep their workforce connected. ... Read full article