News Topic: Bankruptcy Blogs

Several community banks are warning Congress that their participation in the Paycheck Protection Program could cause them to cross a threshold that may lead to, among other things, supervision by the CFPB and a cap on interchange fees. ... Read full article

The New Jersey company will add three branches in the northern part of the state as part of the transaction. ... Read full article

The purchase-and-assumption transaction, if approved, would become the first credit union-bank merger in Alabama. ... Read full article

Many community banks, like Peoples Community in Wisconsin, say they proceeded despite the technological challenges presented by social distancing because the crisis has exposed the shortcomings of their digital systems. ... Read full article

With on-site supervision off the table indefinitely, various credit union trade associations have suggested how NCUA could improve remote exams, including issues related to exam timelines and cybersecurity. ... Read full article

The bank is selling $355 million of Paycheck Protection Program credits to the Loan Source, a nonbank lender that is also buying PPP loans from three other banks. ... Read full article

Victories in Massachusetts earlier this week bring the Credit Union Legislative Action Council to a 96% success rate backing races in this election cycle. ... Read full article

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study. ... Read full article

The company has acquired a federal savings association, Mid-Central Federal Savings Bank in Wadena, Minn., which is converting to a national bank. ... Read full article

Richard Pillow will step down after more than four decades in the industry. ... Read full article

The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many ... Read full article

The Vermont-based credit union received the OK from federal regulators to add 650,000 potential members to its FOM, an increase of 15%. ... Read full article

Germany’s two biggest banks have dropped Ernst & Young because of ties to the defunct payments company; Wells was charged with failing to account for the costs of switching customers to new investments. ... Read full article

Larry Sewell has also pledged to continue a series of industrywide conversations on race relations. ... Read full article

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac. ... Read full article

The two institutions have assets of more than $215 million and serve over 12,000 members. ... Read full article

Piedmont Federal Savings is working with historically Black colleges and universities to hire and train prospective commercial lenders and managers who better reflect the community it serves. ... Read full article

A report from CUES shows total compensation growing for members of the C-Suite, but institutions on the smaller end of the asset spectrum — representing two-thirds of the total industry — face stark differences in median CEO pay. ... Read full article