News Topic: Bankruptcy Blogs

Wells Fargo provides few updates on growth; why some banks are aggressively cutting costs and others aren’t; crypto exchange Kraken receives Wyoming bank charter; and more from this week’s most-read stories. ... Read full article

Citigroup is embarking on hiring 6,000 young people in Asia over the next three years in an effort to help cushion the region from a blowout in youth unemployment. ... Read full article

Bank of America Chief Executive Brian Moynihan called for another round of federal stimulus to help the U.S. reach a full economic recovery from the coronavirus pandemic. ... Read full article

After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept. ... Read full article

The results of the latest exams will be released for each of 33 big banks; the Fed will announce by the end of this month if it will cap fourth quarter dividends and prohibit buybacks. ... Read full article

A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it. ... Read full article

Small and midsize banks would pay for access to the Monit app and offer it to small-business clients as an add-on service. ... Read full article

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November. ... Read full article

Jason Gelinas, an employee at Citigroup, has been placed on paid leave pending an internal investigation after he was identified as the operator of the most prominent website dedicated to the QAnon conspiracy theory, according to three people familiar with ... Read full article

The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic. ... Read full article

The Federal Reserve Board will discuss an advance notice of proposed rulemaking on the Community Reinvestment Act at an open meeting. The central bank had previously declined to support an OCC rule overhauling the 1977 law. ... Read full article

The central bank reiterated its plan to allow inflation to run above 2% for an extent before raising rates; the German bank postpones returning people to its New York City office until next July. ... Read full article

The Baltimore institution said it would close on Nov. 3 with the intention that employees use the paid time off to participate in the democratic process. ... Read full article

Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up. ... Read full article

À cause de la crise sanitaire, les augmentations de salaire ont été presque annulées. En 2020 et 2021, les entreprises y dédieront une part historiquement basse de leur budget : moins de 2 %. Pendant ce temps, l’inflation poursuit son chemin et une telle ... Read full article

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics. ... Read full article

Deal activity, already on pace for its slowest year in more than two decades, will likely remain suppressed until bankers get a handle on credit exposure and more clarity on valuations. ... Read full article

With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk. ... Read full article