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

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Mortgage boom fuels launch of UW Credit Union’s racial equity fund

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

Black business owners cautiously optimistic about 2021, survey finds

A survey commissioned by Bank of America found that Black entrepreneurs are more hopeful about revenue opportunities than other small-business owners, though many are still struggling to bring in the capital needed to expand.

Cadence Bancorp considering a sale: Sources

The Houston-based lender is working with financial advisers to solicit interest from potential buyers, according to people familiar with the matter.

Generating a Positive Cash Flow in Reorganization: The Central Task of a Family Business

By: Donald L Swanson A family business in Chapter 11 (whether in Subchapter V or a regular Chapter 11) has one task that stands above all others in importance. It’s this: The business must generate a positive cash flow. The Lawyer’s Impossible Task

Wells Fargo gets some good news; JPMorgan teams with Black-owned asset manager

A report says the Fed has approved the bank’s risk management proposal, although it’s not home free yet; JPMorgan Chase is investing $200 million to help minority firms become Fortune 500 giants.

What To DO About Michigan Student Loans?

First, there will be no executive order knocking michigan student loans $50,000 off everyone’s student loan balance. “I will not make that happen,” Biden said at a CNN town hall in Milwaukee, his first event outside Washington since he took office

Bank trade groups urged to rethink political giving after Capitol riot

Election-reform advocates say the American Bankers Association and other organizations should take into account candidates’ commitment to democracy, not just their stances on issues, in directing donations.

Essential Distinctions Between a Student Loan Forgiveness & Discharge

Essential Distinctions Between a Student Loan Forgiveness & Discharge Arizona Bankruptcy Attorneys Explain Student Loan Debt Relief Methods Student loan debt is one of the biggest debts that people carry – and one of the biggest reasons they start

SECU chief Mike Lord to retire in August

The longtime leader joined State Employees' Credit Union, the second-largest CU in the nation, in 1975 and was named CEO in 2016.

Blackouts, deep freeze force Texas banks to shutter branches

Comerica, Regions and Frost Bank closed hundreds of branches statewide while others ran them at reduced capacity or on power generators to help ease the strain on the state’s overwhelmed power grid.

Fintech inspired by Black Lives Matter targets underbanked

Paybby, whose founder wanted to address disparities in the financial system after the George Floyd protests, is working with banks and others to develop products especially for underserved communities. They include a debit card that substitutes for

Bankruptcy Subchapter V Debt Limits

In February 2020, Congress passed a new law establishing a new small business bankruptcy filing subchapter, known as “Subchapter V”. The original debt limit for Subchapter V was $2.7 million, however, in March 2020, the CARES Act increased the debt

Assets up 14% at United FCU as earnings slip

Net income and loan volumes at the Michigan-based credit union were both down in 2020 but noninterest income shot up 41% thanks in part to participation in the Paycheck Protection Program.

Behind Western Alliance's $1 billion bet on a mortgage lender

Acquiring AmeriHome would provide the fee revenue the Phoenix company seeks to compensate for low interest rates and tepid commercial loan demand. The deal also would allow it to reinvest billions of dollars of excess liquidity.

Is the NRA Out of Bullets?

The NRA's Gone to Texas bankruptcy just keeps getting wilder and wilder. First an NRA board member files a motion for an examiner. Then the NRA's largest creditor files a motion for the case to be dismissed as a bad faith filing (or in the

Cash-out refis help drive pandemic-era mortgage boom

Origination volume hit a record high in 2020 as more borrowers tapped the equity in their homes and investors and second-home purchasers flocked to the market at levels unseen since before the Great Recession.

Wells Fargo wins Fed’s approval for governance overhaul, sources say

The nod from the Federal Reserve is seen as a significant step toward eventually freeing the bank from a 2018 order that imposed a cap on its assets.

Former CEO of Simplicity Credit Union dead at 60

Patricia Wesenberg spent more than two decades at the Wisconsin-based institution but retired in October to deal with health issues.

Citi may get stuck with huge chunk of distressed Revlon debt

A back-office blunder is leaving the financial behemoth faced with the prospect of becoming one of the biggest creditors to the troubled cosmetics empire.

Banks want to regain control of consumer bill pay. Mastercard offers help.

The card brand's data exchange platform, which provides mobile real-time processing, has gained support from the likes of PNC and Citizens.