Bankruptcy Blogs

Supreme Court Rules That Passive Retention Does Not Violate Stay

01/14/21

 The Supreme Court decided that a creditor which passively retains possession of estate property does not "exercise control" over such property in violation of 11 U.S.C. Sec. 362(a)(3). The Court viewed the word "exercise" to require active measures.  Case No. 19-357, Chicago v. Fulton (1/14/21), which can be found here.

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Truist’s marketing pact with NFL has social justice hook

01/14/21

A sponsorship deal between the regional bank and the league will emphasize economic empowerment and financial education. It's a good example of how corporations increasingly seek to associate their brands with a cause or purpose, experts say.

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First Republic profits jump 20% on surging mortgage demand

01/14/21

Loan originations hit a record $16.7 billion in the fourth quarter, though executives caution that a recent rise in mortgage rates could slow refinancing activity.

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World Council of Credit Unions CEO Brian Branch retiring in July

01/14/21

Branch has been with WOCCU for 31 years, the last 10 of them spent as CEO.

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Inclusiv launches $20M capital fund to benefit communities of color

01/14/21

The project will deploy $20 million as secondary capital to expand economic relief and financial inclusion, and follows a $1 million project last summer aimed at helping low-income consumers in Rust Belt cities.

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Full employment not expected until 2024: Bank economists

01/14/21

A slower-than-expected rollout of the COVID-19 vaccines and the threat of social unrest after the Jan. 6 riot at the U.S. Capitol could threaten the recovery, according to an American Bankers Association panel.

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Essex Savings in Connecticut lines up next CEO

01/14/21

Diane Arnold, who will succeed the retiring Gregory Shook in July, has been with the bank since 2002. She is currently the chief lending officer.

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Visa: COVID-19 payment habits may be here to stay

01/14/21

Most consumers expect to be offered a variety of digital payment options in stores in a post-COVID-19 world, and small and midsize business believe that change will be permanent, a Visa study finds.

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Diversified Credit Union members to vote on Spire merger

01/14/21

The deal is a sign of further consolidation among Twin Cities-area credit unions, following another combination announced in May.

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OCC finalizes rule punishing banks that cut service to certain sectors

01/14/21

The Office of the Comptroller of the Currency finalized a rulemaking Thursday morning opposed by the industry that forces the largest banks to provide services to gun businesses and other sectors to which banks have curtailed lending.

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