Bankruptcy Blogs

Powell says Fed's digital currency should complement payments system

10/19/20

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

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Don't stand in the way of CRA reform

10/19/20

Lawmakers’ attempt to stall the OCC’s final rule, preventing regulators from reforming a 1977 law meant to help underserved communities, does far greater harm than any changes that are raising objections, says the acting comptroller.

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U.S. banks' climate disclosures seen as too narrow to reflect risk

10/19/20

U.S. banks are taking too narrow of an approach when disclosing their exposure to climate risk and are potentially underestimating possible losses, according to a report released Monday.

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Credit scores rise despite Covid; Fed officials call for greater regulation

10/19/20

But the stimulus-fueled improvement is making it more difficult for lenders to assess risk; two regional bank presidents are worried that low-rate policies are giving rise to excessive risk taking.

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Credit unions' political donations lean left in advance of election 2020

10/19/20

The industry supports candidates on both sides of the aisle but has tilted towards Democrats during this cycle. Experts say that's partly a reflection of the current makeup of Congress.

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Regions using AI to make most of customer feedback

10/18/20

Over the past year, the Alabama bank has been developing new tools that analyze survey responses, phone interactions and social media posts to identify opportunities to improve digital offerings.

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Regulators close Florida bank in third failure of 2020

10/16/20

First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.

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Dimon says he’s hopeful Biden would fix some of America’s issues

10/16/20

Jamie Dimon, the chief executive of JPMorgan Chase, said he’s optimistic a Biden presidency could solve problems including health care and economic inequality without damaging businesses.

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Nonbank acquisitions pay off for Citizens

10/16/20

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

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Rebounding car sales drive lending boom at Ally

10/16/20

The auto lender says consumers’ skittishness about flying and using public transit during the pandemic has fueled a surge in demand for new and used cars. But executives remain wary of high unemployment and the potential for a rise in loan defaults.

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