Bankruptcy Blogs

Acting CFPB chief signals tougher stance against redlining

02/03/21

After the agency pulled back on fair-lending enforcement in the Trump administration, interim Director Dave Uejio has made clear his intent to use the “disparate impact” standard to launch more anti-discrimination probes.

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U.S. Bancorp hires wealth management executive from JPMorgan Chase

02/03/21

Scott Ford is the new president of the 1,400-employeee wealth management unit that caters to affluent clientele of the Minneapolis company.

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Lenders embrace property-mapping tech, defying critics

02/03/21

Community banks say Vizaline’s software, which converts property descriptions into images, helps them catch errors before they close real estate loans without resorting to expensive land surveys. But traditional surveyors say the results are of questionable value.

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Community bank enlists Coinbase, SAP to offer crypto

02/03/21

Vast Bank in Oklahoma is one of the first to allow customers to purchase digital currencies, a market that has proved lucrative for fintechs.

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Australia’s largest credit union to rebrand as a bank

02/03/21

The decision comes after a decade in which several U.S.-based institutions elected to drop the words "credit union" from their branding.

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Small businesses give fintechs low marks for PPP lending

02/03/21

Only 18% of businesses that received a Paycheck Protection Program or other loan from an online lender were satisfied with customer service, while 42% said they were dissatisfied. Banks, credit unions and CDFIs fared better in the Federal Reserve survey.

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Eviction Moratoria Save Lives: the Evidence

02/03/21

Once in a while you see an empirical paper that makes you say "wow." That's my first reaction to an NBER paper out from some economists and a sociologist at Duke and UNC. The paper, entitled "Housing Precarity & the Covid-19 Pandemic: Impacts of Utility Disconnection and Eviction Moratoria on Infections and Deaths Across US Counties" has an absolute bombshell finding:  eviction and utility disconnect moratoria save lives.  A lot of them.  

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Why so few banks are unloading problem loans

02/03/21

The paucity of distressed-loan sales indicates that most bankers are confident about the underlying health of their portfolios even as the pandemic lingers and loss reserves remain elevated.

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Former Opus chief is one step closer to opening California de novo

02/03/21

A group led by Stephen Gordon has received conditional approval from the Federal Deposit Insurance Corp. to open Genesis Bank.

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If the Shoe Fits . . . . Defendants in Nine West D&O Litigation Fail to Convince Judge to Dismiss Claims for Breach of Fiduciary Duty and Recovery of Fraudulent Transfers

02/03/21

A recent decision by Judge Jed Rakoff of the Southern District of New York highlights the risks faced by directors and officers of companies in financial distress who fail to undertake properly their duties to the company and its stakeholders.

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