Bankruptcy Blogs

Has the OCC become too politicized?

12/30/20

Bank regulators traditionally steer clear of more divisive debates in a polarized Washington. But some observers worry acting Comptroller Brian Brooks has gone too far by wading into issues such as public health orders and banks' decisions to curtail services to the gun and fossil fuel industries.

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CFPB fines Nevada lender over alleged Military Lending Act violations

12/30/20

The agency said Omni Financial in Las Vegas illegally required service members to designate a portion of their paychecks to repay loans, depriving of them of other payment options.

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Synchrony, PayActiv join CFPB's compliance sandbox

12/30/20

The Consumer Financial Protection Bureau is giving the credit card issuer and the fintech firm some regulatory latitude to develop specific new products.

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Oportun's bid for bank charter meets resistance

12/30/20

Several consumer advocacy organizations have urged the Office of the Comptroller of the Currency to deny the online lender's application for a national bank charter, citing concerns about its lending and debt-collection practices.

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RON use went up in 2020. Here's why more lenders won't adopt it

12/30/20

Remote online notarization helped originators close loans amid social distancing measures, but complex local laws remain a barrier to its widespread use.

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Stimulus battle stands in way of AML measure becoming law

12/30/20

An impasse over pandemic relief checks for Americans is holding up an override of President Trump's veto of a bill shifting beneficial-owner requirements from banks to their commercial clients.

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Tall order for startup's leader: Keeping PPP borrowers in fold

12/30/20

Triad Business Bank opened in North Carolina shortly before the launch of the Paycheck Protection Program, which brought in many clients. CEO Ramsey Hamadi, one of our community bankers to watch in 2021, will have to work hard to retain them after their loans are forgiven.

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Country, banking long overdue for cyberdefense upgrade

12/30/20

The latest cyberattacks pointing to the Russian government show that U.S. federal agencies and banks still lack a clear, collaborative game plan.

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After a rocky year, Children’s Miracle Network looks to rebound in 2021

12/30/20

The charity was hit hard by the pandemic and the death of its CEO early in the year, but the nonprofit hopes to bounce back in 2021, thanks in part to a long history of working closely with credit unions.

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Strip club scandal, charges of partisanship add to NCUA's rough year

12/30/20

The National Credit Union Administration juggled several challenges this year beyond the pandemic recession, including an inspector general's report about alleged misconduct by two former employees and criticism that board members had lost their old spirit of comity.

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