Bankruptcy Blogs

NRA Bankruptcy

01/15/21

The National Rifle Association filed for bankruptcy in the Northern District of Texas (Dallas). The NRA's press release says that the purpose of the bankruptcy is to enable the NRA to change from being a New York corporation to a Texas corporation.

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Capital One fined $290M for ‘willful’ anti-money-laundering failures

01/15/21

The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.

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Incoming Citi CEO Fraser signals major changes ahead

01/15/21

Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.

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Wells Fargo pledges to cut $8 billion in overhead. Is it enough?

01/15/21

CEO Charlie Scharf’s long-awaited expense-reduction plan got a chilly reception from investors.

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Chatbot lessons, automated PPP, cross-border M&A: Top stories of the week

01/15/21

South African bank's approach to chatbots offers lessons for U.S. players; small lenders embrace automation for latest PPP round; flush with capital, Canadian banks eye U.S. acquisitions; and more from this week's most-read stories.

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Credit union regulator outlines 2021 supervisory priorities

01/15/21

Cybersecurity remains a priority along with CARES Act compliance, flexibility for borrowers impacted by the pandemic and more.

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PNC says BBVA deal won’t derail organic growth plans

01/15/21

The Pittsburgh company intends to continue adding commercial offices and retail branches in markets it had been eyeing before agreeing to buy BBVA USA for $11.6 billion.

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Former Wells Fargo general counsel fined $3.5 million in OCC settlement

01/15/21

The OCC had hit James Strother and other executives with civil charges a year ago in connection with the bank's phony-accounts scandal. His monetary penalty is lower than what the agency had first floated.

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Fintechs competing unfairly with banks, Dimon says

01/15/21

JPMorgan Chase CEO Jamie Dimon fired a warning shot Friday at financial technology upstarts such as Chime and Plaid.

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