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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Loans fell, membership and savings balances rose in January

CUNA Mutual Group's latest Credit Union Trends Report shows consumers continue to deleverage thanks to stimulus payments and cash-out refinancing, though membership picked up slightly. ]]

What Disability Benefits are Available for People Over 50 in Pennsylvania?

Being an older citizen is difficult when you do not have the finances you need to support yourself. Many people do not have children or family to rely on to take care of them as they get older. This situation is made even more challenging when that

Bob Gold & Associates Wins Top Clutch Public Affairs Firms in 2021!

By Bob Gold, Principal, Bob Gold & Associates Public Relations goes deeper than advertising. Build and burnish brands with Bob Gold & Associates where we make technology meet entertainment. We are proud to present our award as a top B2B firm for 2021

The forthcoming bankruptcy of Interjet.

On March 22nd, the CEO of Interjet (ABC aerolíneas, S.A. de C.V.) announced the imminent filing before a Mexican court of a petition in bankruptcy in the reorganization stage. Interjet is one of the top 5 airlines in Mexico. The bankruptcy of an

Business First in Louisiana agrees to buy investment adviser

Smith Shellnut Wilson has managed Business First's investment portfolio since the bank was formed 15 years ago.]]

Citigroup CEO bans Friday Zoom calls, encourages vacations

Citigroup Chief Executive Jane Fraser has barred internal video calls on Fridays and encouraged vacations in an effort to combat workplace malaise brought on by the coronavirus pandemic.]]

Goldman didn’t discriminate with Apple Card, N.Y. regulator says

Goldman Sachs Group didn’t use discriminatory practices when deciding whether to extend credit to prospective customers of its Apple Card, said the New York State Department of Financial Services.]]

Libor’s end leaves nearly $2 trillion of debt facing legal limbo

Almost $2 trillion of debt pegged to dollar Libor, much of which can’t easily be shifted to an alternative benchmark, won’t mature until after the discredited rate expires in mid-2023, according to the Federal Reserve-backed group guiding the

Banks happy to let cardholders buy weed online, lawyers say

Lawyers defending two men accused of defrauding banks into processing pot purchases said banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online.]]

New Chapter 11 Filing – Ninety-Five Madison Company, LP

On March 22, 2021, Ninety-Five Madison Company, LP of New York, NY filed a single asset real estate petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 21-10529). The property

New Chapter 11 Filing – Ninety-Five Madison Company, LP

On March 22, 2021, Ninety-Five Madison Company, LP of New York, NY filed a single asset real estate petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 21-10529). The property

Mediating Discharge Disputes—A Tough Task

By Donald L. Swanson Lawsuits opposing discharge are tough, to begin with. That’s true whether the action is under Sec. 523 (opposing discharge of the plaintiff’s claim) or under Sec. 727 (opposing discharge of all claims). Here are some reasons why

Fed to go slow on digital dollar; Quarles warns banks on Libor deadline

Powell says the Fed won't move forward without approval from Congress; the Fed's vice chair for supervision tells banks not to use the tainted benchmark on any new deals after this year.]]

Billion Dollars Of Student Loan Debt Forgiven!

Billion Dollars Of Student Loan Debt Forgiven – but that is only 72,000 borrowers. Billion Dollars Of Student Loan Debt Gone? Officials say the move helps around 72,000 Americans whose complaints may have resulted in only partial relief from the

Card issuers reliant on miles, hotel rewards await travel rebound

Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be

Stopping Unlawful Debt Collection Practices, CFPB 2020 Report

CFPB Submits 2020 Report to Congress on the Administration of the Fair Debt Collection Practices Act Report highlights commitment to protect consumers during the COVID-19 Pandemic The Consumer Financial Protection Bureau (CFPB) released the 2020

Banc of California will buy Pacific Mercantile, ending M&A drought

Banc of California, which last bought a bank in 2013, has agreed to pay $235 million in stock in this in-state deal.]]

Credit cards slash $99 billion from spending limits during pandemic

The 14 lenders that dominate U.S. credit cards slashed $99 billion from their customers’ spending limits in 2020, mostly affecting financially troubled households. ]]

Fed’s Quarles aims to clear up confusion about Libor deadline

Legacy contracts using the London interbank offered rate — which is set to be phased out at the end of this year — were granted a reprieve to mid-2023. However, there is no wiggle room on when the rate will expire for new deals, said Federal Reserve

Mutuals say latest stimulus effort highlights need for capital reform

The depositor-owned banks are discouraged from participating in the Emergency Capital Investment Program because they can't issue preferred stock to back loans for underserved communities. It's another reason to overhaul their capital rules, mutuals