Bankruptcy Blogs

Digital training for bankers paying off in coronavirus crisis

03/31/20

Customers are more reliant than ever on digital banking tools, and institutions like OceanFirst, BBVA and M&T are thankful they had invested in teaching employees to show customers how to use them.

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High anxiety among energy lenders as oil prices plummet

03/31/20

Weak demand for oil and gas, brought on by the economic fallout of the coronavirus outbreak, has raised concerns of energy firms missing loan payments or even going bankrupt. Here’s how banks and regulators are trying to get ahead of potential problems.

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Calls to cease non-coronavirus rulemaking grow louder

03/31/20

The ICBA chief’s plea for a six-month halt to regulations not related to the pandemic followed similar calls by community groups and a key Senate Democrat.

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How to Protect Yourself from Vehicle Repossession In Case of Coronavirus Layoff

03/31/20

If you have lost your job due to the coronavirus crisis, you are likely in survival mode. Your immediate goal should be to “shelter in place” to protect your health and that of your family. Beyond that, whatever funds you have need to be allocated to food and shelter.

But what about transportation? Is your vehicle at risk of repossession even in a time of national emergency? What steps can you take to protect your car or truck?

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CARES ACT student loan relief

03/31/20

The CARES Act signed into law last week suspends payments and eliminates interest accrual for all federally-held student loans for six months, through September 30. These measures exclude private loans, privately-held FFEL loans and Perkins loans. The other five subsections of section 3513 mandate important additional relief. Under subsection (c) the six suspended payments (April to September) are treated as paid for purposes of “any loan forgiveness program or loan rehabilitation program” under HEA title IV.

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Fed delays effective date of bank control rule due to coronavirus

03/31/20

The regulation established standards for investors who own less than a quarter of an institution. Banks are getting more time for implementation as they focus on effects of the COVID-19 pandemic.

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Twelve years later, another ill-conceived bailout

03/31/20

The 2008 package proved some banks were too big to fail. But the rushed $2.2 billion stimulus shows now any company can be bailed out.

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Colorado bank rebrands to highlight bigger role in payments

03/31/20

The newly minted Transact Bank will provide payment processing and card issuing services to a wide range of clients.

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Banks cautioned on bonuses, pay; Powell praised for decisiveness

03/31/20

After the financial crisis banks took a PR beating, limiting bonuses could prevent criticism; the Fed moved with authority in the face of the coronavirus.

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Banks’ culture under scrutiny, even during coronavirus outbreak

03/30/20

Grainne McNamara, financial services principal at Ernst & Young, explains that bank regulators have already been examining banks' cultures, and that's likely to continue. But banks can still fix culture problems during a pandemic.

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