News Topic: Bankruptcy Blogs

Financial institutions interested in participating “are encouraged to begin making ... loans immediately,” the central bank said. ... Read full article

The central bank is bringing back examinations but said it will continue to conduct monitoring remotely "until conditions improve." ... Read full article

Lawmakers shouldn't let themselves be misled by a slower pace in personal bankruptcy filings so far this year. ... Read full article

Chuck Shaffer will take the helm in January, becoming the first leader outside of the Hudson family since the bank's formation in 1926. ... Read full article

Metro Bank is early-stage talks to buy a peer-to-peer lender, aiming to grow in unsecured lending as the troubled British company's mortgage business comes under pressure. ... Read full article

Borrowers say getting the loans forgiven is just as complicated as obtaining the money; payment companies are holding some merchant funds in reserve as chargebacks spike. ... Read full article

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing. ... Read full article

Frank Partnoy has an important and unsettling piece in The   Atlantic about how CLOs (securitized syndicated loans, in short) might be at the core of the next bank meltdown, which he sees coming as soon as later this year. Because 2020 was starting to get ... Read full article

[Update: This is an updated version of an article published on June 5, 2020 ] ... Read full article

PNC open to deal that would boost assets to $700 billion; banks take hard line against accountants seeking fees for PPP referrals; rush to online banking during coronavirus has hackers salivating, bureau says; and more from this week's most-read ... Read full article

Uwharrie Capital in North Carolina and Valley National in New York used their community connections to seek out small companies in need of loans from the Paycheck Protection Program. They found plenty of them. ... Read full article

The lawmakers cited concerns from small businesses that the current application to have coronavirus relief loans forgiven is “especially burdensome, time-consuming, and costly.” ... Read full article

The success of Isbank's Maxi service is a lesson for all banks: Chatbots, with the right training, can provide the kind of human touch customers need in times like these. ... Read full article

Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering. ... Read full article

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits. ... Read full article

Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission. ... Read full article

On June 8, 2020, the Federal Reserve Bank of Boston, the administrator of the Federal Reserve’s Main Street Lending Program, released updated term sheets for the three types of loans, “New,” “Priority” and “Expanded,” that will be available under Main ... Read full article

Mobile banking use has swelled since the pandemic hit, and law enforcement officials expect hackers to target the credentials of digital novices. The FBI stressed the importance of two-factor authentication and ensuring consumers know how to spot fake apps ... Read full article