Bankruptcy Blogs

BofA halts political action committee spending decisions for now

01/12/21

Bank of America’s employee-funded political action committee is putting its allocation decisions on hold after a right-wing mob stormed the U.S. Capitol last week.

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Walmart plans fintech startup; Aussie banks launch no-interest credit cards

01/12/21

The giant retailer is looking to expand its menu of financial services products; in the face of competition, the banks are trying to simplify the product to get more people to use it.

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Credit unions argue pandemic bolsters case to ease membership rules

01/12/21

Industry groups say the coronavirus has highlighted additional risks faced by institutions without a diverse member base.

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Canadian banks eye U.S. acquisitions

01/11/21

Flush with excess capital, Bank of Montreal, TD Bank and others say they might be in the market to do a cross-border deal.

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Walmart creates fintech startup, speeding push beyond retail

01/11/21

The retail giant is teaming with the investment group Ribbit Capital on the venture, which will aim to provide new services to Walmart customers and employees.

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The Save Our Stages Act – Time for Eligible Businesses to Get Ready for Their Audition (Part 1 of 2)

01/11/21

Among the various bills that were amalgamated in the Consolidated Appropriations Act, 2021 (the omnibus appropriations and stimulus funding bill that was signed into law on December 27, 2020) was a modified version of the Save Our Stages Act (the “SOS Act”), a bill first introduced into the Senate by Sen. John Cornyn (TX) on July 22, 2020.

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With share prices rising, banks have more growth options

01/11/21

Bank stocks have climbed because of expectations that the change of power in Washington will hasten vaccine distribution and speed the economic recovery. The boost could give executives more flexibility to pursue acquisitions or make other strategic moves.

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What banks, fintechs can learn from Simple’s rise and sudden death

01/11/21

BBVA’s acquisition of Simple, the first neobank, was closely watched as a possible model for others in the industry. But the shutdown last week of Simple has again stirred a debate about whether upstarts and traditional players can ever fit together.

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Banking groups suspend political donations after D.C. riot

01/11/21

Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.

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Former CEO of Adventure Credit Union dead at 59

01/11/21

Brian McVeigh passed away on Dec. 31, following a 14-month battle with brain cancer, according to a release from the Michigan Credit Union League, having spent more than 35 years serving in a variety of roles at CUs across the state.

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