News Topic: Bankruptcy Blogs

The Supreme Court is poised to decide the fate of the Consumer Financial Protection Bureau's leadership structure, but the implications could reach far beyond the bureau. ... Read full article

Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf. ... Read full article

The bank is encouraging staff to take the day off Friday to commemorate the end of slavery, but intends to keep branches open. ... Read full article

They join an ever-expanding list of companies choosing to close offices early Friday to observe the day that marks the end of slavery. ... Read full article

Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic. ... Read full article

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank. ... Read full article

At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens. ... Read full article

Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop. ... Read full article

Carver Bancorp. and Urban One Inc., two companies that serve black and underrepresented communities, more than doubled on Wednesday as traders aid trends associated with supporting black-owned businesses amid global protests against police brutality. ... Read full article

The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized. ... Read full article

The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic. ... Read full article

The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists. ... Read full article

The agency’s advance notice of proposed rulemaking, which would require banks to evolve with technology, shows foresight that policymakers too often lack. ... Read full article

I have an article out in The American Prospect about How to Start Closing the Racial Wealth Gap . Unlike a lot of writing bemoaning the racial wealth gap, this piece has a concrete reform that could be undertaken on day 1 of a Biden administration without ... Read full article

The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic. ... Read full article

Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan. ... Read full article

The Los Angeles company said Commerce Mortgage, founded by former bank CEO Steven Sugarman, wasn't a shareholder by the record date for its annual meeting, even though the firm reported a 9.7% stake earlier this year. ... Read full article

Paul Krugman had a piece in yesterday’s NYT about the lunacy in the stock market, where a bankrupt company like Hertz is merrily issuing new stock ( here ).  Matt Levine of Bloomberg has similarly, and hilariously, discussed the Hertz case and other ... Read full article