News

Today's News

October 30, 2020 - 39 new headlines

Looking Back: Men's Wear store offered fashionable clothes downtown for 70 years - Argus Leader

10/30/2020 Looking Back: Men's Wear store offered fashionable clothes downtown for 70 years  Argus Leader [more]
Tags: Liquidation, News

Grand Rapids tiki bar owned by HopCat founder files for Chapter 11 bankruptcy - MiBiz: West Michigan Business News

10/30/2020 Grand Rapids tiki bar owned by HopCat founder files for Chapter 11 bankruptcy  MiBiz: West Michigan Business News [more]
Tags: Filings, News

The 10 cities in the most financial distress - Construction Dive

10/30/2020 The 10 cities in the most financial distress  Construction Dive [more]
Tags: Filings, News

Honeywell buying stake in former automotive subsidiary in Chapter 11 bankruptcy - Charlotte Business Journal

10/30/2020 Honeywell buying stake in former automotive subsidiary in Chapter 11 bankruptcy  Charlotte Business Journal [more]
Tags: Lawsuits, News

Covid, bankruptcies and UK equities: Seven wealth managers on what scares them the most - Citywire Financial Publishers

10/30/2020 Covid, bankruptcies and UK equities: Seven wealth managers on what scares them the most  Citywire Financial Publishers [more]
Tags: Liquidation, News

Hetty Green Motel sale gets tax forgiveness | Local - Brattleboro Reformer

10/30/2020 Hetty Green Motel sale gets tax forgiveness | Local  Brattleboro Reformer [more]
Tags: 363 Sales, News

GARRETT MOTION INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Garrett Motion Inc.

10/30/2020 GARRETT MOTION INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Garrett Motion Inc.  Salamanca Press [more]
Tags: Lawsuits, News

SSG Advises Metal Partners Rebar and its Affiliates in the Sale of Substantially all of its Assets - News - ABL Advisor

10/30/2020 SSG Advises Metal Partners Rebar and its Affiliates in the Sale of Substantially all of its Assets - News  ABL Advisor [more]
Tags: News, Reorganizations

7 major downsides if the ACA is overturned by Supreme Court - American Medical Association

10/30/2020 7 major downsides if the ACA is overturned by Supreme Court  American Medical Association [more]
Tags: Liquidation, News

'COVID-related': Edwardsville provider of sports equipment for schools files bankruptcy - KSDK.com

10/30/2020 'COVID-related': Edwardsville provider of sports equipment for schools files bankruptcy  KSDK.com [more]
Tags: Liquidation, News

Blogs

Executive order on diversity a predicament for banks

10/30/2020 Bankers can either fight the president’s recent order banning diversity training in federal contracts or face reputational risk by complying with it. [more]
Tags: Bankruptcy Blogs, BankThink, Diversity and equality, Donald Trump, Employee communications, Employee relations, Equal pay

Fed lowers Main Street loan threshold in bid to boost interest

10/30/2020 Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000. [more]
Tags: Bankruptcy Blogs, BankThink, CARES Act, Coronavirus, Federal Reserve, Lending, Main Street Lending Program, Paycheck Protection Program, Small business lending, Treasury Department

NCUA issues lifetime ban for embezzlement

10/30/2020 The National Credit Union Administration issued a prohibition order against a former employee of Members Exchange Credit Union in Mississippi. [more]
Tags: Bankruptcy Blogs, BankThink, Crime and misconduct, Embezzling, Financial crimes, Mississippi, NCUA, Prohibition orders

As winter approaches, banks brace for defaults on restaurant loans

10/30/2020 Many eateries that relied on outdoor dining to survive the pandemic could see revenues plummet as the weather turns cold. [more]
Tags: Bankruptcy Blogs, BankThink, Commercial lending, Coronavirus, Regions Bank, Restaurant industry, Synovus Financial, Webster Bank

OceanFirst takes aggressive stance by selling problematic loans

10/30/2020 The New Jersey company reported a quarterly loss after becoming one of the first lenders to liquidate loans harmed by the coronavirus pandemic. [more]
Tags: Bankruptcy Blogs, BankThink, Community banking, Coronavirus, Credit quality, Earnings

Proposed Tennessee de novo's organizers hit capital-raising goal

10/30/2020 RockPoint Bank is on pace to open early next year. The announcement comes two weeks after Craft Bank became Atlanta's first new bank since 2010. [more]
Tags: Bankruptcy Blogs, BankThink, Capital, Community banking, De novo institutions, Tennessee

China fintech firm Lufax raises $2.4 billion in U.S. IPO

10/30/2020 Lufax, which was once among China’s largest peer-to-peer lenders, has morphed into a financial giant offering wealth management and retail lending services. [more]
Tags: Bankruptcy Blogs, BankThink, Fintech, IPOs, Peer-to-peer lending, Wealth management

Fannie, Freddie profits jump; Amex promises $1 billion for diversity

10/30/2020 The two government-owned agencies reaped the benefits of the refi boom while loans in forbearance dropped; American Express says it has achieved 100% pay equity for employees. [more]
Tags: Bankruptcy Blogs, BankThink

Can credit unions keep up with COVID's evolving phishing threats?

10/30/2020 Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began. [more]
Tags: Bankruptcy Blogs, BankThink, Coronavirus, Cyber security, fraud, Fraud detection, Fraud prevention, Phishing, Work from home

Why multifamily loans remain resilient in New York

10/29/2020 Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized. [more]
Tags: Bankruptcy Blogs, BankThink, Commercial lending, Credit quality, Earnings, Multifamily, new york, Revenue and expenses