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

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Write banking rules that withstand political winds

Regulations that merely reflect the beliefs of whoever’s in power undoubtedly get unwound by the next round of leaders. Policies will stand the test of time if they are focused on addressing inequalities in the financial system.

Manville Channeling Order Still Effective After More Than 30 Years

In a recent decision, the United States District Court for the Southern District of New York upheld a bankruptcy court order that enjoined a plaintiff holding an asbestos claim from pursuing a state court products liability claim against the

Verity, Simplicity and other credit unions name new CEOs

The new leaders include some who succeed retiring chief executives retiring and others stepping in after unexpected departures.

Wisconsin Court rules Debtor Fees being paid in chapter 13 plan reduce amount required under Best Interest of Creditor's Test

Regarding a matter in which there is a split of opinions Judge Halfenger ruled that the fees due to debtor's counsel to be paid through the chapter 13 plan reduced the amount required to be paid to unsecured creditors to meet the best interest of

Together Credit Union names first chief diversity officer

The St. Louis-based institution is the latest in the industry to create an executive-level position focused on diversity, equity and inclusion.

Do the draft UK Pre-Pack Regulations address industry concerns?

On 24 February 2021, the UK government published the draft bill for the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (the “Regulations”), which, once in force, will require mandatory creditor approval or an

Square invests in Jay-Z’s streaming service; Treasury makes $9 billion promise

It’s not clear how the deal will make money for the digital payments company; the government is providing the funds through CDFIs and MDIs to lend in minority communities.

The surprisingly good times for auto lenders will end. But when?

In the midst of the pandemic recession, banks have benefited from government stimulus payments to consumers, low interest rates and constraints on the supply of new vehicles. But intensifying competition and real concerns about borrowers’ ability to

'Change in the air': Competition to serve unbanked at fever pitch

Six startups that seek to cater to Black and Hispanic consumers outside the financial mainstream are attracting heavy interest from investors. However, the new banks will vie with megabanks eyeing those same customers and with established minority

D.C. power shift complicates Fed decision on capital rule

The industry wants regulators to extend a temporary measure making it easier to satisfy the supplementary leverage ratio. But Democrats’ control of the White House and Congress has given a bigger platform to those who say banks have had enough relief

Fed orders Nano Banc in California to reduce CRE concentration

The bank must submit a plan for improving its risk management and decreasing its commercial real estate exposure, the Federal Reserve said in an enforcement order.

Valley Strong to bulk up with Solano First merger

The deal, subject to approval from regulators and members, will add to Valley Strong's existing branch network and comes after several years of losses at Solano First.

Debt investors step up hotel lending in bet on life after COVID

Credit investors are stepping into a void left by banks and insurance companies and providing debt financing for top-quality hotels in a bet on a post-pandemic recovery, according to a report from the real estate services firm JLL.

Neobank tackles problem of emergency medical debt

Better Financial offers customers up to $5,000 per year in accident coverage, prescription drug discounts and medical debt negotiation to certain account holders.

CDFIs, minority-owned banks to get $9B from Treasury for COVID relief

The backing from the Emergency Capital Investment Fund is meant to help financial institutions direct aid to lower-income communities struggling in the pandemic.

Malvern hires activist investor as outside consultant

Lawrence Seidman will provide capital markets advice and financial analysis to the Pennsylvania company.

Credit unions dig into data to offset slowdown in lending

Technology is helping some institutions find new growth opportunities as lending contracts, but many CUs also were able to use data to assist members during the early days of the pandemic.

A business deposit account that sweeps cash into green projects

MUFG Union Bank is offering a new deposit product to commercial clients who want to see their cash reserves used to help finance sustainable projects, such as renewable energy or green transportation.

Inside Dwolla's efforts to find a formula for faster payments

Building the processing tech was the easy part. Finding the right mix of users and transactions posed many challenges.

Discover opening call center in low-income Chicago neighborhood

The operation will employ 1,000 people in a predominantly Black community. The move is part of the city's push to create job opportunities beyond the downtown area.