Bankruptcy Blogs

Wells Fargo to cut dividend; other big banks boost capital buffer

06/29/20

In response to the Federal Reserve's stress tests, Wells said it will lower its third-quarter distribution to shareholders. Meanwhile, JPMorgan Chase, Goldman Sachs and five other companies announced stress test capital buffers that exceed the minimum requirement.

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A second chance for rejected Apple Card applicants

06/29/20

Goldman Sachs, the card’s issuer, has rolled out a new program in which it will provide personalized advice to consumers with marred credit profiles in hopes of making them customers down the road.

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After ruling, stage set for new battles over CFPB's future

06/29/20

The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.

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What happens if Mastercard and Visa gobble up all the data aggregators?

06/29/20

Thanks to their close relationship with the card networks, banks stand to benefit most from deals like Mastercard’s agreement to buy Finicity and Visa’s pending purchase of Plaid. The prospects for fintechs and consumers are dicier.

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Seila Law v CFPB: Winners and Losers

06/29/20

The Supreme Court's long-awaited decision about the CFPB's constitutionality is out. It's a tricky opinion to parse politically. The Court, in a 5-4 partisan decision, held that the CFPB's structure violates the separation of powers because of the for-cause only removal provision for the CFPB Director in conjunction with the Bureau's other features. Accordingly, the Court found that the Director must be removable at will. Here's my attempt to lay out the winners and losers.

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Rocky road ahead for bank profitability: OCC

06/29/20

With multiple business sectors reeling from the pandemic, banks are facing tighter net interest margins, provisioning more for losses and seeing their balance sheets expand, the agency said in a report.

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U.S. Bancorp reshuffles corporate and commercial leadership

06/29/20

The company announced a slate of changes on Monday that includes the creation of a new position overseeing strategy for corporate and commercial banking.

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Supreme Court won't hear bankers' appeal in credit union membership suit

06/29/20

The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016.

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As businesses try to recover, it's time for fintechs to get proactive

06/29/20

A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market.

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Supreme Court strikes down CFPB leadership structure

06/29/20

In a split 5-4 decision, the justices gave presidents new power to remove the agency's head at will. The ruling could have far-reaching implications for other regulators with single directors.

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