News Topic: Bankruptcy Blogs

The fund will support Community Development Financial Institutions that lend to minority- and women-owned businesses. The Charlotte, N.C., company is the latest big bank to make a large dollar commitment focused on alleviating racial and economic ... Read full article

The Connecticut company will receive $120 million in cash from AssuredPartners for People's United Insurance Agency. ... Read full article

The two officials told a House panel that businesses need grants, not more loans; some Black employees take issue with Wells Fargo CEO’s assertion that minority talent pool isn’t deep enough. ... Read full article

Wells Fargo's top executive created a firestorm on social media over comments that the bank has had trouble meeting its diversity goals because there isn't enough minority talent. ... Read full article

Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected ... Read full article

More than a dozen institutions made the ranking this year in this asset category range. ... Read full article

With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database. ... Read full article

Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone. ... Read full article

FitBank Pagamentos Eletronicos, a Brazilian fintech backed by JPMorgan Chase, plans to open a U.S. office in the first half of 2021. ... Read full article

It's been six weeks since the Paycheck Protection Program expired and banks started filing forgiveness applications on behalf of borrowers. So why isn't the Small Business Administration responding? ... Read full article

The bank worked with TravelBank, a fintech, to offer virtual cards and an app that automatically generates expense reports. ... Read full article

Partnering with the account-opening software firm Mantl, the New Jersey bank created a CD campaign that helped fund its Paycheck Protection Program lending. ... Read full article

The app, dubbed One, allows users to save, spend, borrow and even share funds from a single account. ... Read full article

Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again. ... Read full article

Sergio Ermotti joined JPMorgan Chase's Jamie Dimon in expressing concern about the long-term consequences of remote work. ... Read full article

The credit union turned to a new engagement strategy for employees after the pandemic forced most of the organization to transition to working from home. ... Read full article

The central bank hopes its plan can lead to a unified standard among all bank regulators; the leak of 2,000 bank suspicious activity reports exposes the need for updated regulations. ... Read full article

Bank of America's Managing Director for Small Business Sharon Miller led the company's involvement in the Paycheck Protection Program, which produced more than 343.000 loans, most in the country. ... Read full article