News Topic: Bankruptcy Blogs

The Financial Crimes Enforcement Network is seeking to create a better-defined standard for effective AML compliance programs and is considering whether to impose formal requirements that banks assess their laundering risk. ... Read full article

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice. ... Read full article

New analysis from CO-OP Financial Services showed credit union members veering closer to traditional card usage, but the lack of additional pandemic relief could hamper interchange growth this fall. ... Read full article

The company, which left New York in 2015 to avoid its regulations on virtual currencies, has found a more welcoming state. ... Read full article

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments. ... Read full article

Led by HSBC, European banks account for the largest share of the announced reductions, according to a Bloomberg analysis. ... Read full article

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue. ... Read full article

Top Senate Republican says the Fed nominee doesn’t have the votes but aren’t throwing in the towel yet; the bank’s stock is down 12% this week amid news of a large risk systems upgrade. ... Read full article

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies and hold off on moves like branch closings to better gauge which changes in consumer behavior will stick. ... Read full article

On August 31, both houses of the California legislature passed and sent to Governor Newsom for signature the California Consumer Financial Protection Law (the CCFPL).  Effective on January 1, 2021 if Governor Newsom signs the bill (which he is expected to ... Read full article

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook. ... Read full article

Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet. ... Read full article

Banks are augmenting their use of masks, distance markers and the like with apps to notify employees of exposure to infected individuals and technology meant to make branch visits safer. ... Read full article

The $282 million-asset institution's new name is intended to build on its work with underserved communities around St. Louis. ... Read full article

A survey conducted by Harris Poll and commissioned by Plaid found that 60% of U.S. adults are using more apps to manage money since the onset of the pandemic. ... Read full article

JPMorgan Chase added a half dozen executives, including Thasunda Brown Duckett, to its operating committee in the biggest expansion of its top leadership group in years. ... Read full article

The two biggest U.S. banks trimmed expectations for net interest income as low rates and tepid loan growth weigh on revenue. ... Read full article

Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more. ... Read full article