Bankruptcy Blogs

Midland States in Illinois to buy Chicago trust company

02/10/21

ATG Trust, which has $387 million of assets under management, handles land trusts and administers court-supervised guardianships.

[more]

Inside look: A Merrill Lynch investigation into broker cold-calling

02/10/21

Documents shed light on how two brokers overseeing trainees allegedly called hundreds of phone numbers on Merrill’s Do Not Call list.

[more]

Acting CFPB head calls out industry for slow complaint response times

02/10/21

Interim CFPB Director Dave Uejio expressed concern that financial institutions have dragged their feet in resolving disputes with consumers for service issues during the pandemic.

[more]

This startup bank's mission: Environmental justice

02/10/21

Ken LaRoe, whose First Green Bancorp was sold a few years ago, is seeking approval for a de novo called Climate First Bank that would cater to low-income communities hurt by climate change and favor ecology-minded tech vendors.

[more]

Regardless of who leads it, OCC has inherent conflict of interest

02/10/21

The jockeying over who President Biden should appoint to head the Office of the Comptroller of the Currency has focused attention on how to regulate the fintech sector, but the discussion has glossed over flaws in the agency's funding structure that have persisted across administrations.

[more]

Hope FCU, Goldman Sachs team up to help small busineses in the South

02/10/21

The Jackson, Miss.-based credit union is part of an alliance that also includes the megabank, seven cities and nine historically Black colleges and universities, and aims to provide investments of up to $130 million to help stabilize businesses and communities hit hard by the pandemic.

[more]

Zions CEO Simmons says his cancer is ‘manageable’

02/10/21

Harris Simmons, the chairman and CEO of Zions Bancorp., updated investors Wednesday on his cancer diagnosis, saying a CAT scan last week did not detect the rare form of non-Hodgkin’s lymphoma with which he was diagnosed in November.

[more]

Ex-Credit Suisse CEO Thiam, Pimco team up for $250 million SPAC

02/10/21

The blank-check company will hunt for deals in the financial services industry in both developed and emerging markets.

[more]

U.S. Bancorp adds banker to find sustainable investments for clients

02/10/21

Marcus Martin will be responsible for expanding sustainable investing options for the Minneapolis company's corporate and commercial customers.

[more]

Can bankers really make the world a better place?

02/10/21

In his new book, the Princeton lecturer and financier J.C. de Swaan contemplates what it means to be virtuous in a financial system that prioritizes profits and shareholder returns.

[more]