Bankruptcy Blogs

Senate panel to question CFPB, SEC nominees next month

02/22/21

The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration's picks, respectively, to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission.

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What finally brought M&T and People's United together

02/22/21

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

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In this crisis, White House and banks are on same team

02/22/21

More than a decade after the near collapse of the financial system and the bruising fight over Dodd-Frank put the industry and a Democratic administration in conflict, President Biden and the financial services sector are allied over the COVID-19 relief plan.

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Expand CRA to include nonbanks

02/22/21

If policymakers are serious about revitalizing low-income communities, they should require all fintechs and other nonchartered lenders to adhere to the Community Reinvestment Act.

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Virginia company tricked immigrants into paying illegal fees, CFPB says

02/22/21

Libre by Nexus deceived detainees into believing they owed a monthly charge related to their proceedings before U.S. Immigration and Customs Enforcement, according to a lawsuit filed by the consumer bureau and three states.

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Earnings up 18% at Wisconsin state-chartered credit unions: Report

02/22/21

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

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First Citizens commits $16 billion to community development lending

02/22/21

The five-year pledge, tied to the company's pending acquisition of CIT Group, earmarks nearly $6 billion for small-business lending and $3.2 billion for affordable housing.

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Week ahead: NCUA auctioning off McWatters’s old office furniture

02/22/21

The sale has revived a long-running feud between former chairmen Mark McWatters and Rodney Hood, who tweeted, "Credit unions deserve better stewardship of agency resources.”

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White House will give small firms two-week exclusive PPP access

02/22/21

Only businesses with 20 or fewer employees will be eligible to apply for forgivable loans from the Small Business Administration's Paycheck Protection Program.

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BancFirst to buy Oklahoma bank dealing with regulatory issues

02/22/21

The Office of the Comptroller of the Currency issued a prompt corrective action directive to First National Bank and Trust in January, requiring it to hire a forensic auditor and provide the OCC with access to documents and records.

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