Bankruptcy Blogs

TD payments exec: COVID response breaking barriers, spurring diversity

08/17/20

Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving country to country, so she's used to a world without borders — the kind world emerging from the capabilities of fintech and demands of the pandemic.

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Tenant groups seek banks’ help to forestall evictions

08/16/20

Housing advocates say lenders should require property owners who request loan forbearance to pause evictions during the coronavirus pandemic. But the banking industry says what’s really needed is another round of government stimulus.

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Student Loan Relief Update

08/15/20

Student loan relief provisions required by the CARES Act expire on September 30. Those protections included 1) for all federal direct loans: zero interest and automatic payment forbearance, 2) credit towards IDR and PSLF forgiveness for the 6 months covered by the Act, and importantly, 3) suspension of wage garnishments and other collections on defaulted loans.

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Slow walking PPP forgiveness, GSE refi fee, the Trump effect: Top stories of the week

08/14/20

Lenders hope Congress grants blanket forgiveness for smaller Paycheck Protection Program loans; fee to shield Fannie, Freddie from COVID losses draws instant backlash; what Trump’s reelection would mean for banks; and more from this week’s most-read stories.

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Citi asks Revlon lenders to return mistaken $900 million

08/14/20

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.

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California’s ‘mini-CFPB’ plan is back in play. Banks aren’t happy.

08/14/20

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

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MUFG Union Bank hires chief information security officer

08/14/20

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

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Have banks, fintechs compete to bring banking services to post offices

08/14/20

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances.

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Lawmakers want inquiry into report that OCC halted redlining probes

08/14/20

Senate Democrats asked a watchdog to examine whether the bank regulator failed to investigate claims of discrimination against at least six banks.

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Older adults needed help banking online. Scotiabank found a solution.

08/14/20

The Canadian bank is doing something few U.S. institutions have done: build an online hub with tutorials designed expressly to simplify the online banking process for newcomers.

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