Bankruptcy Blogs

SoFi's California bank buy; gridlock plagues PPP’s final weeks

03/10/21

The fintech hopes the move, if approved, will accelerate its plan to become a national bank; lenders say they have too many applications already to deal with last-minute SBA revisions.

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In pot banking, bigger isn't always better

03/10/21

With national banks awaiting federal decisions on marijuana banking policy, smaller institutions can capitalize on local laws. That’s the theory Colorado Ventures is putting to the test with a $5 million investment in AeroPay, which banks with Partner Colorado Credit Union.

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Who’s who among Biden’s financial regulators (so far)

03/09/21

Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.

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Regionals aren’t rushing to repurchase shares

03/09/21

Comerica, Regions and KeyCorp executives say their companies will proceed with caution despite the green light from the Federal Reserve to buy back stock in case they have to cover a surge in loan growth as the economy recovers.

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ProFed Credit Union's new CEO started as a teller

03/09/21

Konstantina Baker has been appointed to lead the Fort Wayne, Ind.-based institution following the retirement of longtime CEO Gregory Troutner.

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Bankers ask NCUA to extend comment period on CUSO proposal

03/09/21

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.

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Citigroup top lawyer who steered bank through mortgage crisis retiring

03/09/21

Citigroup’s general counsel, Rohan Weerasinghe, told the bank that he will retire by the end of the year after almost a decade in the role.

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Too many small banks are 'digital have-nots': FDIC innovation chief

03/09/21

Community banks with meager tech budgets need help identifying the right systems for institutions their size and finding good partners, says Sultan Meghji, who recently joined the Federal Deposit Insurance Corp. in this newly created role.

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CUNA Mutual Group acquires Assurant’s funeral business

03/09/21

The deal to take over the firm's prearranged funeral insurance and final expense business in the U.S. and Canada is worth approximately $1.3 billion, and marks the latest in a string of acquisitions for CUNA Mutual.

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Fears of a backlog as PPP deadline looms

03/09/21

Lenders are preparing scores of Paycheck Protection Program applications to secure approval from the Small Business Administration by March 31, but unresolved error codes continue to hinder their efforts.

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