News Topic: Bankruptcy Blogs

Matthew Raphaelson, Kenneth Zimmerman and Tracy Kidd, all of whom were senior executives in the company’s consumer banking unit, have agreed to pay six-figure fines in connection with Wells Fargo’s unauthorized account scandal. ... Read full article

The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings. ... Read full article

The North Carolina bank deployed Finxact's new technology, which runs on Amazon Web Services, to make Paycheck Protection Program loans and will use it next to offer business savings accounts and CDs. ... Read full article

Karl Yoneshige has been with the Honolulu-based institution since 1988, including two decades as CEO. ... Read full article

The OCC is trying to seize jurisdiction by arguing that current supervision is haphazard. But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation. ... Read full article

Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice. ... Read full article

The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas. ... Read full article

Buzzfeed News published its “FinCEN Files,” alleging that large banks ignored reports of suspicious activities and helped launder trillions of dollars; low rates will depress earnings even as credit losses don’t look to be as bad as expected. ... Read full article

The pandemic has forced the institutions on this year's Best Credit Unions to Work For list to be more flexible with their policies for how and when employees take time off. ... Read full article

The annual ranking, a collaboration between Credit Union Journal and the Best Companies Group, involves surveying employees and reviewing each institution's workplace policies. ... Read full article

The coronavirus has created unprecedented challenges for employers but these credit unions rose to the occasion. ... Read full article

Lenders should be subjected to tough reviews of their readiness for economic threats posed by severe weather, required to disclose risks lurking in their portfolios and perhaps forced to set aside extra capital, a government study recently recommended. ... Read full article

A new investigation by the International Consortium of Investigative Journalists says JPMorgan Chase, Deutsche Bank and several other global institutions kept moving illicit funds after receiving warnings from U.S. officials. ... Read full article

Every September 20 th on National Bankruptcy Day I like to remind people about their bankruptcy superpower, in a whimsical way. People who file Chapter 7 Bankruptcy get a fresh start that lets them make financial decisions faster than a speeding bullet . ... Read full article

The company will shutter a fifth of its locations, while reinvesting some of the savings in its digital banking platform. ... Read full article

The San Diego bank first considered finding a buyer two years ago and had offers in early 2019. The price of the deal it finally reached in the throes of the pandemic was much lower than some earlier offers. ... Read full article

The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation. ... Read full article

A collaboration between the two industries to help voters cast absentee ballots has been approved to continue through the general election. ... Read full article