Bankruptcy Blogs

Sterling in N.Y. sheds nonperforming mortgage loans

09/23/20

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending.

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Citigroup vows to become ‘antiracist,’ review internal policies

09/23/20

Citigroup will spend $1 billion over the next three years on efforts to help close the racial wealth gap as it seeks to become an “antiracist institution.”

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Social distancing pushes credit unions to get creative with communication

09/23/20

With staff scattered between working at home and in the office, management at many institutions has taken steps to revamp intranets and launch employee-only Facebook groups to keep their workforce connected.

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People's United agrees to sell insurance unit

09/23/20

The Connecticut company will receive $120 million in cash from AssuredPartners for People's United Insurance Agency.

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Wells Fargo CEO draws fire for 'limited' Black talent comment

09/23/20

Wells Fargo's top executive created a firestorm on social media over comments that the bank has had trouble meeting its diversity goals because there isn't enough minority talent.

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Mnuchin, Powell report on loan programs; Scharf criticized on diversity goals

09/23/20

The two officials told a House panel that businesses need grants, not more loans; some Black employees take issue with Wells Fargo CEO’s assertion that minority talent pool isn’t deep enough.

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The Best Credit Unions to Work For with assets from $200M - $500M

09/22/20

More than a dozen institutions made the ranking this year in this asset category range.

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Banks criticized for requiring balloon payments on loans in forbearance

09/22/20

Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected customers.

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Law enforcement needs better access to BSA reports, watchdog says

09/22/20

With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database.

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Lawmakers urge Fed, Treasury to let CRE borrowers tap Main Street loans

09/22/20

Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.

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