Bankruptcy Blogs

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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USAA's OCC fine, Citi mum on risk rehab, no digital bank for PNC: Top stories of the week

10/16/20

USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read stories.

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What’s behind the unlikely First Citizens-CIT deal

10/16/20

The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.

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SDNY Upholds Pledge of Collateral for PDVSA 2020s

10/16/20

Today, Judge Failla of the Southern District of New York issued an opinion rejecting PDVSA's request for a declaration invalidating the PDVSA 2020 bonds.

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Plaid ‘surprised’ by TD Bank trademark suit, denies allegations

10/16/20

Plaid said it has been in discussions with TD Bank over allegations of trademark infringement and false advertising and was caught off-guard by the lawsuit the bank filed Wednesday.

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Fed's Kashkari says banks arguing against regulation ‘make stuff up’

10/16/20

Kashkari, who oversaw the 2008 bank bailouts as a then-Treasury official, has been outspoken in favor of higher capital requirements since he took over at the Minneapolis Fed in 2016.

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Buffett inches toward Wells Fargo exit as Scharf sets course

10/16/20

Warren Buffett isn't known to ask much of companies in which he buys stock. Then last year, as Wells Fargo's top investor, he publicly advised the board not to hire a leader from Wall Street — and it did. What ensued shows what can happen when a company rejects the legendary investor's advice.

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BofA makes progress on diversity, says there's more work to do

10/16/20

Racial and gender representation increased in most areas of the company, including among senior management, according to data the bank released Friday. Still, the percentage of women in the top three tiers of the firm remained unchanged from a year earlier at 41%.

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The Most Powerful Women in Banking 2020: The future of consumer banking

10/16/20

The events of 2020 have only served to accelerate a number of potentially disruptive trends among consumers when it comes to banking and financial services — What does the emerging future of consumer and retail banking now look like?

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