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

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Changes for the UK Restructuring and Insolvency Market- predictions for 2021

At the start of 2020, we considered what changes the UK restructuring and insolvency market might expect to see during the year – however no one could sensibly have predicted the significant and far reaching impact of COVID-19. In part 1 of our blog

OppFi is the latest fintech to go public via SPAC

Opportunity Financial, which offers consumer installment loans in partnership with banks, is merging with FG New America Acquisition Corp., a special-purpose acquisition corporation. The deal is expected to close in the second quarter.

BNY Mellon and Mastercard embrace crypto, sending bitcoin to record

The trust bank and the credit card company said they'll make it easier for customers to use cryptocurrencies. The announcements contributed to another jump in the price of the largest digital asset.

Buy now, bank later: Klarna's bold new business model in Germany

The Swedish installment lender's diversification makes it a direct competitor to mainstream banks.

Powell loves his job. Biden must decide if he loves Powell.

Federal Reserve Chair Jerome Powell says he has nothing but affection for his work, suggesting that the 68-year-old central banker could be open to a second term if asked.

White House officials back economist Lisa Cook for Fed board

Economist Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar

Does § 1409(b) Require Filing A Preference Claim For <$25,000 In Defendant's Home District?

By: Donald L Swanson Debtor files Chapter 7 in the Eastern New York Bankruptcy Court. The Chapter 7 Trustee sues Defendant in that same Bankruptcy Court to recover an $11,408.55 preference. Defendant resides in California, not New York, and is not an

Deposit glut weighs on regional banks

Harris Simmons of Zions Bancorp. warned that excess deposits could suppress loan demand and pose an inflation threat, while Darren King of M&T tried to reassure investors that deposits will be less volatile than some fear once the economy improves.

Mastercard to support cryptocurrencies; Jane Fraser’s big turnaround test

The company plans to accept digital currencies on its network sometime this year; Citi’s incoming CEO will rely on her international experience to try to fix the bank’s problems.

Michigan Mortgage Relief Ending Soon

Holding off on mortgage foreclosure to end soon. More than half of 2.7 million active forbearance plans are set to end for good in March, April, May or June, according to mortgage-data firm Black Knight Inc.BKI +0.85% As with most – well, every –

Most PPP loans going to repeat customers

The majority of Paycheck Protection Program loans are being approved for borrowers in industries that have yet to regain their footing.

SBA rolls out fixes for PPP error codes

Bankers have claimed that the Small Business Administration's procedures to counter fraud and improper lending have ensnared legitimate Paycheck Protection Program applications.

How long should small-business, mortgage aid last?

House Financial Services Committee members were at odds over whether to have support for homeowners and the State Small Business Credit Initiative, both included the $1.9 trillion stimulus plan, expire when the pandemic ends or later.

Midland States in Illinois to buy Chicago trust company

ATG Trust, which has $387 million of assets under management, handles land trusts and administers court-supervised guardianships.

Inside look: A Merrill Lynch investigation into broker cold-calling

Documents shed light on how two brokers overseeing trainees allegedly called hundreds of phone numbers on Merrill’s Do Not Call list.

Acting CFPB head calls out industry for slow complaint response times

Interim CFPB Director Dave Uejio expressed concern that financial institutions have dragged their feet in resolving disputes with consumers for service issues during the pandemic.

This startup bank's mission: Environmental justice

Ken LaRoe, whose First Green Bancorp was sold a few years ago, is seeking approval for a de novo called Climate First Bank that would cater to low-income communities hurt by climate change and favor ecology-minded tech vendors.

Regardless of who leads it, OCC has inherent conflict of interest

The jockeying over who President Biden should appoint to head the Office of the Comptroller of the Currency has focused attention on how to regulate the fintech sector, but the discussion has glossed over flaws in the agency's funding structure that

Hope FCU, Goldman Sachs team up to help small businesses in the South

The Jackson, Miss.-based credit union is part of an alliance that also includes the megabank, seven cities and nine historically Black colleges and universities, and aims to provide investments of up to $130 million to help stabilize businesses and

Zions CEO Simmons says his cancer is ‘manageable’

Harris Simmons, the chairman and CEO of Zions Bancorp., updated investors Wednesday on his cancer diagnosis, saying a CAT scan last week did not detect the rare form of non-Hodgkin’s lymphoma with which he was diagnosed in November.