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

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Who’s who among Biden’s financial regulators (so far)

Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.

You Have a Reverse Mortgage: Know Your Rights and Responsibilities

You have a reverse mortgage: Know your rights and responsibilities Publication from Consumer Financial Protection Bureau “CFPB”. Reverse mortgages can be a nightmare, leaving your spouse evicted from their home once the signing spouse dies. This in

Regionals aren’t rushing to repurchase shares

Comerica, Regions and KeyCorp executives say their companies will proceed with caution despite the green light from the Federal Reserve to buy back stock in case they have to cover a surge in loan growth as the economy recovers.

ProFed Credit Union's new CEO started as a teller

Konstantina Baker has been appointed to lead the Fort Wayne, Ind.-based institution following the retirement of longtime CEO Gregory Troutner.

Bankers ask NCUA to extend comment period on CUSO proposal

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.

Citigroup top lawyer who steered bank through mortgage crisis retiring

Citigroup’s general counsel, Rohan Weerasinghe, told the bank that he will retire by the end of the year after almost a decade in the role.

Too many small banks are 'digital have-nots': FDIC innovation chief

Community banks with meager tech budgets need help identifying the right systems for institutions their size and finding good partners, says Sultan Meghji, who recently joined the Federal Deposit Insurance Corp. in this newly created role.

CUNA Mutual Group acquires Assurant’s funeral business

The deal to take over the firm's prearranged funeral insurance and final expense business in the U.S. and Canada is worth approximately $1.3 billion, and marks the latest in a string of acquisitions for CUNA Mutual.

Fears of a backlog as PPP deadline looms

Lenders are preparing scores of Paycheck Protection Program applications to secure approval from the Small Business Administration by March 31, but unresolved error codes continue to hinder their efforts.

JPMorgan shutting down Chase Pay digital wallet a year after discontinuing app

The option to transact using Chase Pay will be removed from all merchant websites and apps by the end of the month.

Supreme Court Holds that “Mere Retention” of Estate Property After Bankruptcy Filing Doesn't Violate the Automatic Stay

On January 14, 2021, the U.S. Supreme Court decided City of Chicago, Illinois v. Fulton (Case No. 19-357, Jan. 14, 2021), a case which examined whether merely retaining estate property after a bankruptcy filing violates the automatic stay provided

Supreme Court Holds that “Mere Retention” of Estate Property After Bankruptcy Filing Doesn't Violate the Automatic Stay

On January 14, 2021, the U.S. Supreme Court decided City of Chicago, Illinois v. Fulton (Case No. 19-357, Jan. 14, 2021), a case which examined whether merely retaining estate property after a bankruptcy filing violates the automatic stay provided

Ex-Treasury official Michael Barr all but ruled out for OCC nomination

Michael Barr, an Obama-era Treasury Department official, is no longer expected to be nominated to lead a regulator that oversees Wall Street’s biggest banks, according to people familiar with the matter.

Central Valley in California starts search for new leader

The company has formed a special committee to find a successor for James Ford, who will retire as president and CEO next year.

Supreme Court Denies Cert (GE v. Belton): A Bankruptcy Code v. Arbitration Act Reprieve — And Constitution’s Bankruptcy Exception

By: Donald L Swanson We’ve dodged the bullet . . . again! Yesterday, the U.S. Supreme Court denied certiorari in GE Capital Retail Bank v. Belton (Case No. 20-481), where the question presented is: Which federal statutory scheme takes precedence in

Walmart's banking bet; Fed ends three emergency funding vehicles

The giant retailer is betting enough has changed in the regulatory environment since 2007, when Walmart applied for an ILC; the underused programs will be allowed to expire at the end of the month.

SoFi buying small California bank for $22.3 million

The acquisition of Golden Pacific Bank will accelerate the online lender’s effort to become a full-service bank.

IC Federal’s new CEO leans into outsider status

Chris Hendry has served on the credit union's board but has spent his career in health care and philanthropy. He said many of his skills are easily transferable, including a focus on marketing and community engagement.

Good Michigan Student Loan News!

Congress actually fixed something! Good Michigan Student Loan News On Taxes Take a moment to rest to take that in. Student Loan Forgiveness NOT Taxable Some of the student loan mess is attributable to the patchwork of statutes and amendments and

State data privacy laws pose compliance headaches for banks

New measures in California and Virginia give consumers more control over their information and may prevent banks from using geolocation services or analyzing personal data without obtaining consent first — except when preempted by federal law.