Bankruptcy Blogs

Retailers, tech giants shouldn't get ILCs. Especially now.

07/31/20

For too long, nonbanks have been allowed to form industrial loan companies to operate as banks without Fed oversight. This regulatory pass should not be given during a crisis.

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Carver in New York to finally exit Tarp

07/31/20

The Treasury Department has held shares in the Black-run banking company for more than a decade.

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It's official: Varo Money has national bank charter

07/31/20

"We can control our destiny," says Colin Walsh, CEO of the challenger bank, which spent more than three years seeking to become a full-fledged bank.

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Fintech lender Affirm mulling IPO; Fannie, Freddie profits improve

07/31/20

The online installment lender could be worth as much as $10 billion; the GSEs' net income jumped sharply from the first quarter after the rebound in the housing market.

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Fannie, Freddie to face bank-like liquidity standards starting Sept. 1

07/31/20

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship.

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Protecting Exclusive Distribution Rights for Patented Products and Other Licensed IP

07/30/20

This post originally appeared as an article in the July/August 2020 issue of the Journal of Corporate Renewal (JCR), the official publication of the Turnaround Management Association (TMA).

The ability of companies to continue as going concerns has become more challenging than ever. As companies pivot and move forward with product production
and sales, they must consider not only their financial viability but the financial viability of their customers, suppliers, and licensors.

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Merger scuttled, Texas bank charts new course

07/30/20

Now that its deal with Texas Capital has been called off, Independent Bank in McKinney plans to scale back or exit some commercial lines and will seek to duplicate its retail banking successes in Colorado.

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CFPB chief welcomes GOP focus on restructuring of agency

07/30/20

Kathy Kraninger told the House Financial Services Committee that she supports proposed action to revamp the bureau's leadership framework following a major Supreme Court decision.

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CRA rule done, OCC set to unveil scoring proposal

07/30/20

Acting Comptroller of the Currency Brian Brooks said the agency plans to issue new assessment procedures within weeks as a follow-up to recent Community Reinvestment Act reforms. He also touched on the “true lender” issue and why the agency is considering a narrow-purpose payments charter.

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ZenBusiness buys Joust, challenger bank for freelancers

07/30/20

ZenBusiness, which provides services to small businesses, will now offer banking along with tax, accounting and insurance help.

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