Bankruptcy Blogs

Park National gets $20 million after resolving issue from 2007 acquisition

11/19/20

The Ohio company will benefit after settling unpaid judgments tied to nonperforming loans at a bank it bought before the last financial crisis.

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CDFIs plug tech holes to close wealth gaps

11/19/20

Community development financial institutions, which tend to be less digitally savvy than traditional banks and credit unions, are developing online-lending platforms and automating backroom processes with investments and technical assistance from big banks, high-tech firms and other sources.

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FHFA sets high capital bar for Fannie, Freddie; bitcoin closes in on all-time high

11/19/20

The two mortgage companies would need capital of $283 billion to absorb losses before going public, its regulator says; the 50% rise in just 30 days has some worried about another crash.

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Why is it so hard for a fintech to become a bank?

11/18/20

The success of some fintechs in getting bank charters this year only underscores how onerous the process remains for many others. That’s unlikely to change unless policymakers reconsider what it means to be a bank.

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Is GSE reform dead on arrival under Biden?

11/18/20

The Trump administration has moved forward on a plan to privatize Fannie Mae and Freddie Mac, but Joe Biden appointees could take steps to slow or stop their release from conservatorship.

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Federal Trade Commission files complaint against Beam Financial

11/18/20

The complaint charges the fintech startup with misleading customers about the interest they'd receive on deposits and the level of access to their money. It seeks an unspecified amount of consumer relief in addition to other remedies.

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FHFA issues capital rule, previews next steps on plan to release GSEs

11/18/20

The new capital framework for Fannie Mae and Freddie Mac is a prelude to letting the mortgage giants potentially retain all their earnings. But efforts to privatize the companies could face pushback from the Biden administration.

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Challenger bank Bella to promote pay-it-forward mentality

11/18/20

The startup, created in partnership with conversational AI platform LivePerson, will encourage users to send sums of money to strangers.

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Banks, credit unions slip in customer satisfaction survey

11/18/20

The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011.

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Dimon calls lawmakers ‘childish’ for failing to pass second stimulus

11/18/20

JPMorgan Chase CEO Jamie Dimon says the partisan bickering over coronavirus relief aid is harming households and businesses and jeopardizing the chances of an economic recovery.

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