Bankruptcy Blogs

CFPB gives go-ahead to firms seeking advisory opinions

11/30/20

The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish the advisory rulings in the Federal Register.

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What PNC has in mind for BBVA's technology

11/30/20

BBVA USA was one of the first U.S. banks to deploy a real-time core system and to purchase a neobank. Here's what PNC may keep, and what it may jettison, after it acquires the U.S. unit of the Spanish banking giant.

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NCUA bans two for embezzlement, larceny

11/30/20

The regulator issued prohibitions for former credit union employees in Virginia and Connecticut.

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Banks, borrowers bristle at SBA questionnaire on large PPP loans

11/30/20

Lenders are worried that the Small Business Administration could use borrower responses to deny forgiveness for many Paycheck Protection Program loans that exceed $2 million.

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Regulators warn banks against using Libor in new contracts

11/30/20

The OCC, Federal Reserve and FDIC said that a failure to adequately prepare for the transition away from Libor could undermine banks' safety and soundness, but also extended the sunset date for many iterations of the interest rate benchmark to July 2023.

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Are nonbanks likelier to lend to Black, Latino homebuyers?

11/30/20

A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks.

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Zions’ Simmons reveals cancer diagnosis

11/30/20

Harris Simmons, the chairman and CEO of Zions Bancorp. in Salt Lake City, said in a letter to employees that he was recently diagnosed with a form of non-Hodgkin’s lymphoma and would be pursuing a treatment plan over the next several months.

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Week ahead: All about NCUA

11/30/20

The credit union regulator's budget briefing could produce fireworks, but possible Senate action could make the result of an eventual budget vote a foregone conclusion.

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It’s official: Yellen is Biden’s pick for Treasury

11/30/20

The incoming administration chose a battle-tested policymaker who can draw on her nearly two decades at the Fed to help rebuild an economy still struggling from the coronavirus pandemic.

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Climate risk test asks banks to look too far down the road

11/30/20

Global regulators are considering a universal stress test for climate change that requires lenders to use a 30-year horizon, a difficult and speculative projection of the energy industry that could harm bank financials.

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