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

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PPP loans reach $72.7 billion in new round with big lenders

The number of Paycheck Protection Program loans to U.S. small businesses more than doubled in the third week of the latest round of pandemic relief aid, as Bank of America and JPMorgan Chase each processed more than $1 billion in funding.

New Georgia senators to join Senate Banking Committee

Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress.

Is Pre-bankruptcy Planning Good Advice at the Time, but Bad Faith Later?”

Every client deserves competent advice in order to plan their lives, but they also need to be able to avoid unforeseen results. Helping a client protect important assets before filing bankruptcy has always been seen as appropriate “pre-bankruptcy

Crypto exchange Gemini moves toward mainstream

Gemini Trust now offers a credit card and an uninsured savings account for bitcoin holders that pays 7.4% interest. It is the latest example of a cryptocurrency company marketing banklike products.

The Difference Between Foreclosures & Short Sales

Your debt is overbearing and you can’t keep up with your mortgage payments. There are a few possible paths you could face next, including foreclosure or a short sale. Both will help pay back creditors and lenders, but they’re different routes and don

Fast-tracked PPP forgiveness provided unexpected earnings lift

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.

Gordian on Leveraging Market Uncertainty in Restructuring Private Equity Investments | Journal of Corporate Renewal

David L. Herman, Partner; Peter S. Kaufman, President; & Liam D. Ahearn, Managing Director of Gordian Group Write Feature Article for Jan / Feb TMA Journal of Corporate Renewal, the official publication of the Turnaround Management Association (TMA)

Cullen/Frost takes 'difficult step' of cutting jobs

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

Ball State Financial president retires after merger

Randy Glassburn spent 33 years in the industry and recently led his credit union through a merger into Financial Center First Credit Union.

Fed more bullish on launch of real-time payments service

The central bank aims to roll out FedNow sometime in 2023, which is more optimistic than its previous timetable. The official leading the project noted progress in developing the infrastructure and its compatibility with private-sector solutions.

Pandemic watchdog is probing Mnuchin, Cruz roles in Fed lending

A federal watchdog is looking into former Treasury Secretary Steven Mnuchin’s decision to roll back the U.S. Federal Reserve’s emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress.

Facilities woes push Cal Poly FCU to merge with SchoolsFirst

California Polytechnic State University is said to be seeking a new banking partner, a move which could leave the university-based credit union without a home.

When is it Creditor Harassment in Pennsylvania?

People who owe others money are sometimes used to phone calls, emails, letters, or other communications from creditors and debt collectors. While creditors are allowed to collect the money owed to them, there are specific rules they must follow. When

Visa pilots faster-payment services for banks

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

Case Evaluation: An Effective ADR Process Under Michigan Law (Alemarah v. General Motors)

By: Donald L. Swanson Mediation is the most commonly utilized, and a highly effective, method of alternative dispute resolution (“ADR”). “Case evaluation” is another ADR process. We don’t hear about it as much—but it is also effective. The State of

Apple Bank penalized for AML violations; is PPP worth the cost?

The FDIC fined the New York bank $12.5 million for ignoring previous orders to clean up its act; economists say the program hasn’t saved that many jobs to justify the expense.

How cryptocurrency is changing the movement of money

Olaf Carlson-Wee, founder and CEO of the cryptocurrency hedge fund Polychain Capital, discusses which digital currencies and blockchain technologies are reshaping payments and which are “nonsense projects.”

Trust banks under extra pressure to cut expenses

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.

Court rules lawsuit challenging CRA rule can proceed

A federal judge denied the Office of the Comptroller of the Currency's motion to have the case thrown out, saying concerns about the agency's rulemaking process to reform the Community Reinvestment Act have merit.

First Community in Texas names successor as CEO retires

T.J. Tijerina, a 16-year employee at the Houston-based credit union, has taken over as president and CEO in advance of Ron Downing’s retirement later this year.