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

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BofA divided as bankers cry foul over special bonus treatment

Anger is building in the senior ranks at Bank of America after the company waived an unpopular new bonus policy for top traders and dealmakers while keeping the plan in place for other employees.

What bankers can do to close the racial wealth gap

Free financial education programs and easier access to safe small-dollar loans are among the ways banks could help put low-income minority households on a path to prosperity.

What Are the Pros and Cons of Chapter 7 Bankruptcy?

For many people, the word “bankruptcy” has a negative connotation. However, bankruptcy can be extremely beneficial, as it can provide the relief you need to regain control of your financial situation. Bankruptcy is a complicated legal process, and

What Is the Difference Between a Felony and a Misdemeanor in Pennsylvania and NJ?

If you or a loved one has been charged with a felony or a misdemeanor, you may wonder what that means and what the differences between the two types of crimes are. Misdemeanors are more minor crimes and felonies are more serious. But both can carry

Fairness and Flexibility: Understanding Corporate Bankruptcy’s Arc

I don't post most of my law review articles here, but my latest might be of some interest to Slips readers generally. In Fairness and Flexibility: Understanding Corporate Bankruptcy’s Arc, out now in the University of Pennsylvania Journal of Business

CFPB probing PayPal’s Venmo unit; will HSBC feel heat from BlackRock?

The money transfer service has been accused of aggressively collecting on overdrawn customers; the asset manager is being urge to pressure the bank to cut fossil fuel lending.

Big banks, Big Tech face off over swipe fees

A showdown between megabanks such as JPMorgan Chase and the likes of Apple and PayPal could be the prelude to a broader fight.

The three toughest questions at your bankruptcy hearing

The three toughest questions at your bankruptcy hearing. The three toughest bankruptcy hearing questions are NOT what most people expect. The bankruptcy trustee does NOT ask you to explain how you got into this mess. They are not asking about your

OCC approves trust charter for second crypto firm

Protego Trust Bank in Seattle will focus on providing custody services for investors that hold digital assets. The OCC decision comes weeks after the agency granted permission to a South Dakota trust company to offer crypto-related services.

American Partners FCU enters Virginia via old Fidelity Bank branch

The North Carolina-based credit union, which purchased the vacant bank branch last summer, serves some members across the state line but has not had a brick-and-mortar presence there until now.

Huntington's TCF courtship, CFPB's redlining stance, FDIC's agenda: Top stories of the week

The backstory of Huntington's whirlwind pursuit of TCF; acting CFPB chief Dave Uejio signals tougher stance against redlining; how Democrats could gain control of FDIC's agenda; and more from this week's most-read stories.

Lower taxes, more M&A: Behind a California bank’s move to Texas

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.

Immigrant-focused fintechs offer lessons for banks

Startups such as Majority, Sable and Simba were created by newcomers to the U.S. who learned firsthand which services, including global remittances and financial education, their audience values most.

CFPB probe of Venmo complicates PayPal's plans

The inquiry into Venmo's debt collection practices is a taste of what PayPal can expect as it expands to other categories that increasingly face regulatory pressure.

CFPB considers halting implementation of QM, debt collection rules

Acting Director Dave Uejio wrote in a blog post that the Consumer Financial Protection Bureau needs more time to consider rules that were finalized under the Trump administration but have not yet gone into effect.

Truliant creates executive-level position focused on diversity

The North Carolina-based credit union is one of a handful in the industry to prioritize diversity, equity and inclusion at the management level.

Failure of counsel to do lien search prior to filing case may constitute malpractice

In denying a request to avoid a judgment lien recorded in 2009 in a chapter 7 bankruptcy filed in 2010, the court found that laches barred the debtor's request. In re Horvath, 2021 Bankr. LEXIS 238, case NO 10-60520 (Bankr. N.D. Ohio, 2 February 2021

Get the transition to green financing right

Regulators are right to encourage environmentally responsible lending, but with the transition to a low-carbon economy likely to take decades, they can’t allow banks to cut off lending to polluting firms cold turkey — especially to those making good

The cashless Super Bowl is coming three years early

Visa and partners fast-tracked the big game's digital overhaul as the pandemic caused a sharp spike in demand for contactless payments.

Libor exit to cost global banks $100 million each this year

Most major global banks will spend more than $100 million each this year preparing for the end of the discredited Libor rate, according to Ernst & Young.