News Topic: Bankruptcy Blogs

The pandemic has changed Americans’ tolerance for germ-laden cash transactions. Aaron Klein, the Economic Studies Policy Director at the Brookings Institution is worried about how the latest stride toward a cashless society is impacting lower-income ... Read full article

The Credit Union Cherry Blossom Run, the industry's biggest annual philanthropic event, saw a nearly 10% increase in giving this year despite being canceled. ... Read full article

The agency’s insurance fund dipped below its statutory minimum last quarter thanks to the rapid rise in deposits, but officials say it should bounce back without a hike in premiums. ... Read full article

“What COVID has done for us is it has showed us where to prioritize investments,” William Demchak said at an industry conference in discussing the Pittsburgh company's plans to speed up the shift to digital banking. ... Read full article

The reductions will affect less than 1% of Citi's global workforce, and with recent hiring the overall headcount probably won’t decline, the company said. ... Read full article

A public rebuke on the bank’s risk management may have expedited Corbat’s retirement; a deal would create a Swiss champion in wealth management and investment banking. ... Read full article

Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans retaining control of the chamber would be defending against the disruption of a Democratic blue wave. ... Read full article

The company joins a growing list of banks shuttering locations as customers flock to digital channels. ... Read full article

Fraud of all kinds has been spiking during the pandemic. Krista Tedder, head of payments, Javelin Strategy & Research, says there are many steps banks could be taking to detect and deter it. ... Read full article

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations. ... Read full article

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment. ... Read full article

The bureau will detail how it will implement a Dodd-Frank Act provision requiring the agency to collect information on small-business lending in order to identify discrimination. ... Read full article

BofA, which has applied for or been granted thousands of patents, has been working recently on technologies that analyze spending patterns to give budgeting advice and use augmented reality to provide estate-planning services. ... Read full article

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut. ... Read full article

The performance of about $3 billion in hotel and other loans flagged by the Dallas company as high-risk has been a "a pleasant surprise," its chief credit officer said at an industry conference. ... Read full article

Axel Weber has discussed the idea with Switzerland's finance minister and an agreement could happen by early next year, according to the Swiss finance blog Inside Paradeplatz. ... Read full article

Acting Comptroller of the Currency Brian Brooks’ focus on allowing fintech firms into the federal banking sphere appears to have a more ambitious and risky goal: redefining the agency’s regulatory focus. ... Read full article

Over the last six months, the movement has shown it is ready to step up during challenging times, including doubling down on service and rolling out new digital products. ... Read full article