Bankruptcy Blogs

The Fed needs to close backdoor to its payment rails

03/03/21

Some bank regulators are allowing companies that offer digital currencies to apply for a charter, potentially giving them a path to the Federal Reserve system without proper oversight.

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The national debt is big and getting bigger. Does it matter?

03/03/21

As government debt swells, the outer limits of what the U.S. can safely borrow are becoming less and less clear.

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Thrivent hires former MUFG Union executive to run proposed bank

03/03/21

Brian Milton, who ran MUFG Union's digital bank, was named head of banking and would become CEO of Thrivent Bank, a digitally focused platform that plans to operate as an industrial loan company.

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Citi’s $900 million mistake prompts banks to seek new safeguards

03/03/21

Banks have begun inserting new language into loan deals that would require investors to return accidental payments like the one Citigroup made to Revlon's lenders last year.

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NCUA swaps out spots on NeighborWorks America board

03/03/21

Rodney Hood, a board member and former chairman for the credit union regulator, was selected to fill a seat previously held by Todd Harper, who was recently appointed NCUA chairman.

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Simmons First adds former regulator to its board

03/03/21

Julie Stackhouse retired last year as an executive vice president at the St. Louis Fed, where she supervised bank holding companies and state member banks in the region.

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Chopra's confirmation hearing; Goldman is back in the bitcoin business

03/03/21

CFPB nominee says he will focus on inaccurate credit reports and borrowers behind on housing payments; the bank is reopening its trading desk as cryptocurrencies gain wider acceptance.

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NCUA’s Harper says exam audits merit new consumer protection programs

03/03/21

In remarks at CUNA’s online Governmental Affairs Conference, the chairman of the National Credit Union Administration called for the creation of new initiatives around compliance for fair credit reporting and truth in lending.

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A Heroes Jubilee

03/02/21

Millions of heroes of the pandemic--health care workers, law enforcement and first responders, National Guard troops, public school teachers, and social workers--are suffering needless financial hardship because of student loans. Years ago Congress passed, and president Bush signed into law the Public Service Loan Forgiveness program. After repaying student loans for ten years while working in public service, these workers are entitled to have their remaining debt canceled by the Education Secretary.

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Biden's CFPB nominee puts loan servicers, credit bureaus on notice

03/02/21

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student-loan servicers who aren't helping troubled borrowers.

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