Bankruptcy Blogs

Beam chief says there’s another side to story of deposit mishandling

11/04/20

Some customer fraud and a lack of cooperation from partners Huntington Bank and Dwolla prevented Beam Financial from returning funds to savers, says Aaron Du, the fintech's CEO. He says he’s trying to make things right, but Huntington and Dwolla are taking the dispute to court.

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Update on Churches Filing Chapter 11 Bankruptcy

11/04/20

As parts of the country are counting ballots, I thought I'd post about counting church chapter 11 cases. The headlines about churches and other religious organizations filing chapter 11 still focus predominately -- almost exclusively -- on Catholic Diocese filings.

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Cannabis and gambling: State ballot measures that matter to banks

11/04/20

Referendums that legalized marijuana and sports wagering in several states could incentivize banks to do business with companies in these sectors. Payday loan and privacy measures that passed Tuesday also have implications for the industry.

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Tri-Valley Service Federal Credit Union approved for community charter

11/04/20

The Pittsburgh-based institution can now serve more than a dozen municipalities in the Keystone State.

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CFPB orders firm to pay $1.5M for 'misleading' loan payment disclosures

11/04/20

The agency said customers of SMART Payment Plan LLC could receive up to $7.5 million for statements that created a false impression about the service used for auto loans, but in a twist the bureau said it may pay most of the restitution.

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Payments firms see green as more states legalize pot

11/04/20

One area of certainty in the 2020 election is the momentum for legalizing cannabis, as a string of ballot box victories makes it harder for banks to avoid working with dispensaries and other legal marijuana businesses.

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How much bang did CUNA get for its 3 million bucks on Election Day?

11/04/20

The trade group supported 11 incumbents running for re-election, including the embattled Maine Sen. Susan Collins, and may have helped Republicans maintain control of the Senate.

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Consumers have too little control over how their data is shared

11/04/20

Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged.

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Corporate Central launches venture capital fund

11/04/20

The new initiative is aimed at boosting credit union innovation through investments in fintech and other areas.

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China halts record Ant Group IPO; JPMorgan unit faces potential fine

11/04/20

The last-minute suspension appears to be a move by Chinese regulators to trim Jack Ma’s sails; the penalty, reportedly from the OCC, would address “historical deficiencies” at the bank.

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