Today Senators Elizabeth Warren (D-MA), Dick Durbin (D-IL), and Sheldon Whitehouse (D-RI) and Representatives Jerrold Nadler (D-NY) and David Cicilline (D-RI) introduced the Consumer Bankruptcy Reform Act of 2020. This is the first major consumer bankruptcy reform legislation to be introduced since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).
Sells, American Banker's Digital Banker of the Year for 2020, says he will help the New York fintech startup create digital currency products for banks.
JPMorgan Chase's Jamie Dimon wants to remind the world that his bank is looking to make an acquisition. "If you've got brilliant ideas, give me a call," the CEO said.
The JPMorgan CEO says trading and investment banking revenues are up over 20% this quarter; Scharf says the bank’s internal reporting is “far, far better” under his regime.
The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to help borrowers could face tougher enforcement.
Executives from U.S. banks continue to play down near-term expectations, but they say customers are growing more confident ahead of the rollout of coronavirus vaccines, and that key commercial lending segments could drive an economic rebound.
Corporate heads shouldn’t blame a limited pool of talent on their inability to promote and hire Black executives, said Kenneth Chenault, the former longtime chief executive of American Express.
The President today announced he was appointing the following people to the PROMESA oversight board. It is not immediately clear which slots these people are filling (that is, who nominated these people). There are three open (presidential) slots at present, but one of the people below is already on the board:
