Bankruptcy Blogs

U.K. moves to regulate 'buy now, pay later'; student loan servicer told to pay up

02/03/21

The country’s financial regulator says many people who take out “buy now, pay later” deals don’t view them as loans; Navient ordered to repay $22 million it overcharged the government.

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Credit unions play waiting game with commercial lending

02/03/21

Any business loan growth the industry sees this year will be closely tied to mass vaccination efforts and a broader economic recovery, meaning it may take until at least the third quarter for pent-up demand to translate into new opportunities.

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Banks remain wary about releasing reserves

02/02/21

Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.

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Point Breeze begins leadership transition by splitting executive roles

02/02/21

The Maryland-based credit union has promoted Chief Operating Officer Tonia Niedzialkowski to president of the organization with an eye toward eventually naming her CEO.

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PPP loans reach $72.7 billion in new round with big lenders

02/02/21

The number of Paycheck Protection Program loans to U.S. small businesses more than doubled in the third week of the latest round of pandemic relief aid, as Bank of America and JPMorgan Chase each processed more than $1 billion in funding.

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New Georgia senators to join Senate Banking Committee

02/02/21

Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress.

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Crypto exchange Gemini moves toward mainstream

02/02/21

Gemini Trust now offers a credit card and an uninsured savings account for bitcoin holders that pays 7.4% interest. It is the latest example of a cryptocurrency company marketing banklike products.

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Fast-tracked PPP forgiveness provided unexpected earnings lift

02/02/21

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.

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Cullen/Frost takes 'difficult step' of cutting jobs

02/02/21

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

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Ball State Financial CEO retires after merger

02/02/21

Randy Glassman spent 33 years in the industry and recently led his credit union through a merger into Financial Center First Credit Union.

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