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

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How banks are helping Texans cope with a 'nightmare'

From delivering water door to door to turning offices into shelters, bankers in the state have adapted their hurricane-response plans to offer customers and employees relief from the past week's snow emergency and power outages.

Senate panel to question CFPB, SEC nominees next month

The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration's picks, respectively, to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission.

What finally brought M&T and People's United together

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

In this crisis, White House and banks are on same team

More than a decade after the near collapse of the financial system and the bruising fight over Dodd-Frank put the industry and a Democratic administration in conflict, President Biden and the financial services sector are allied over the COVID-19

Expand CRA to include nonbanks

If policymakers are serious about revitalizing low-income communities, they should require all fintechs and other nonchartered lenders to adhere to the Community Reinvestment Act.

Virginia company tricked immigrants into paying illegal fees, CFPB says

Libre by Nexus deceived detainees into believing they owed a monthly charge related to their proceedings before U.S. Immigration and Customs Enforcement, according to a lawsuit filed by the consumer bureau and three states.

Earnings up 18% at Wisconsin state-chartered credit unions: Report

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

Week ahead: NCUA auctioning off McWatters’s old office furniture

The sale has revived a long-running feud between former chairmen Mark McWatters and Rodney Hood, who tweeted, "Credit unions deserve better stewardship of agency resources.”

Creditor failed to show elements of §523(a)(2)(B) dischargeability complaint by preponderance of evidence

One of the more common areas of litigation in bankruptcy is a request by a creditor to find that the debt owed to them is not discharged by the bankruptcy based on misrepresentation when the debt is made pursuant to 11 U.S.C. 523(a)(2). A good

White House will give small firms two-week exclusive PPP access

Only businesses with 20 or fewer employees will be eligible to apply for forgivable loans from the Small Business Administration's Paycheck Protection Program.

BancFirst to buy Oklahoma bank dealing with regulatory issues

The Office of the Comptroller of the Currency issued a prompt corrective action directive to First National Bank and Trust in January, requiring it to hire a forensic auditor and provide the OCC with access to documents and records.

M&T to buy People's United; rate rise adds to pressure on homebuyers

M&T Bank in Buffalo has a deal for Bridgeport, Conn.-based People’s United for more than $7 billion; more people are buying homes sight unseen online as interest rates start to climb.

M&T ends M&A drought with $7.6B deal for People's United

The deal for the $63 billion-asset People's United would create a company with more than $200 billion of assets and a branch network stretching from Maine to Virginia. Buffalo-based M&T has not made an acquisition since buying Hudson City Bancorp in

M&T poised to buy People’s United for more than $7 billion

The tie-up between the two Northeastern banks, which could be announced as early as Monday, would be the latest in a string of recent deals among regionals facing competitive and economic challenges.

CFPB goes on hiring spree as it looks to ramp up enforcement

The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.

AG Letitia James won’t sue NYC over taxi medallion debt

This article originally appeared in politicalsay on February 19, 2021 at https://politicsay.com/ag-letitia-james-wont-sue-nyc-over-taxi-medallio… AG Letitia James won’t sue NYC over taxi medallion debt New York Attorney General Letitia James

Consumers and Price Volatility: Texas Electricity Prices

Some Texas consumers who didn't lose power are now finding themselves socked with massive electric bills, as high as $17,000. The reason? They were paying variable kW/h pricing for their electricity at wholesale rates, without any sort of price

Bankr. M.D.N.C.: Anderson v. Bennett-Smith- Contructively Fraudulent Transfer and Recovery of Asset by Trustee

Summary: Emily Bennett owned an real property in fee simple in Rockingham County. In December 2019, she executed a Power of Attorney appointing Lisa Bennett-Smith as her attorney-in-fact. A few days later on December 9, 2016, Ms. Bennett-Smith

Citi said to consider divesting some foreign consumer units

The company is mulling the sale of certain retail operations the Asia-Pacific region as part of incoming CEO Jane Fraser's plan to streamline operations, according to people familiar with the matter.

Santander’s CRA rating upgraded to ‘outstanding’

The Boston-based bank said the Office of the Comptroller of the Currency gave it the highest grade possible on its most recent Community Reinvestment Act examination. Santander had received a “needs to improve” grade in 2017 and had a “satisfactory”