Bankruptcy Blogs

Diversification, M&A may lie ahead for New York Community under new chief

12/29/20

The switch to Thomas Cangemi from longtime CEO Joseph Ficalora could foreshadow a push to curtail the company’s reliance on multifamily lending and the pursuit of a bank acquisition that lowers funding costs.

[more]

How crypto and blockchain made inroads into financial services in 2020

12/29/20

Government officials and many bankers remain wary of digital currencies, but they'll have to learn to live with them. Here are 15 stories about how cryptocurrencies and the technology underlying them are becoming more embedded in the financial industry.

[more]

OceanFirst chief eyes possible merger of equals next year

12/29/20

Chris Maher recently unloaded loans hurt by the coronavirus shock, convinced he was freeing the New Jersey company of baggage that could impede a large M&A deal. This assertive move makes him one of our community bankers to watch in 2021.

[more]

House Dems demand fee waivers for new stimulus cards

12/29/20

Eleven Democrats on the Financial Services Committee have asked the heads of the Treasury Department and IRS to eliminate service charges tied to debit cards used to distribute COVID-19 relief.

[more]

How will SEC complaint affect banks’ relationships with Ripple?

12/29/20

The Securities and Exchange Commission last week accused Ripple of breaking securities laws, raising questions about the future of banks' ties with the company.

[more]

New Jersey, Pa. credit union foundations to merge

12/29/20

Last year, the Pennsylvania Credit Union Association and the New Jersey Credit Union League merged to form the CrossState Credit Union Association, and now the foundations of the two groups are combining.

[more]

Stimulus law may put disputes over PPP agent fees to rest for banks

12/29/20

The new legislation includes a provision sparing lenders from having to pay such fees on Paycheck Protection Program loans, except in cases where they agree in advance with borrower representatives to do so.

[more]

United Consumers Credit Union names insider as president

12/29/20

Jay Neathery has taken over for Chris McCreary, who stepped down as president of the institution but is staying on as executive vice president.

[more]

Fed extends Main Street program to process more loans

12/29/20

Treasury Secretary Steven Mnuchin approved the extension of the Main Street Lending Program, which offers loans to midsize companies affected by the pandemic, to Jan. 8.

[more]

How far left will CFPB swing in 2021?

12/29/20

The Consumer Financial Protection Bureau is headed for more disruption in the new year with a Democratic administration likely to reverse several GOP-backed policies. More aggressive relief for mortgage borrowers, a rollback of Trump-era rulemakings and yet another realignment of CFPB offices will all be on the table.

[more]