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

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New Chapter 15 Filing – Yatsen Group of Companies, Inc.

On January 25, 2021, Ontario, Canada-based Yatsen Group of Companies, Inc. d/b/a Sarku Japan, filed a petition for recognition of a foreign proceeding under Chapter 15 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case

Synchrony buying health care-focused installment lender

The Stamford, Conn., company is acquiring Allegro, a California lender that finances the purchase of hearing aids and other health-related products or services. It’s aiming to capitalize on the rising popularity of point-of-sale lending and a need

Bank of Hawaii, National Bank Holdings join list of banks closing branches

The companies are reacting to an ongoing shift in customer preferences to digital channels.

Pay Your Debts Or Go To Jail?

What would you do if you got a tip there was an arrest warrant out because you hadn’t paid one of your bills? Scrape up the money any way you can? Get out of town? Laugh? The right answer is “laugh”. In the US we don’t arrest people for owing money

How To Make Mortgage Lender ‘Fess Up

What have they been doing with my mortgage payments? The client has been making a mortgage payment according to the HAMP formula for almost 18 months of her Chapter 13. Yet without a 1098 form, her very capable tax preparer told her she couldn’t

Eagle Bancorp resolves corporate governance dispute with investors

The Maryland company agreed to improve its risk and compliance controls, estimating that it will cost $2 million to make changes.

Amerant Bancorp forms mortgage joint venture

Amerant Mortgage includes several former bankers from City National Bank of Florida in Miami.

Practicalities of Mediating Via Zoom

By: Donald L Swanson What follows is a script (more or less) of a panel presentation I gave on December 11, 2020, in a webinar sponsored by the American Bar Association. A revised version is published in Businesslawtoday.org by the American Bar

Yellen confirmed as Treasury secretary; Tubman on the $20 moves forward

The Senate voted 84-15 to approve the former Fed chief as the first woman to head the department; Biden White House is resuming efforts to replace Jackson with the abolitionist.

Good Student Loan News

Government student loan forbearance extended. Good News On Student Loan ! Another punt, another kick the can down the road move, but we take what we can get. Pausing Federal Student Loan Payments At the request of President Biden, the Acting

What will incoming CFPB chief do with $570 million consumer aid fund?

The agency has amassed more in fines than it has returned to wronged customers. With Democrats now in power, some hope the bureau will allocate the unused money more aggressively.

Berkshire Hills in Boston hires Webster executive as its new CEO

Nitin Mhatre, who ran Webster's consumer and business banking operations, will become the company's third CEO in less than three years.

Former Comerica branch manager sentenced in elder fraud case

Marie Fulle was ordered to spend nearly three and a half years in federal prison and pay $1.09 million in restitution for stealing money from an elderly customer with dementia.

Yellen wins confirmation to become first woman as Treasury chief

Janet Yellen was confirmed by the U.S. Senate as the country's 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.

Investar revisits bank purchase it terminated during pandemic's early days

The Louisiana company has agreed for the second time to acquire Cheaha Financial Group in Alabama.

GreenState Credit Union pledges $500M toward racial equity efforts

The Iowa-based institution hopes the funds can help narrow the racial homeownership gap in the state, which is believed to be among the worst in the nation.

Citi keeps sponsorship for golfer Thomas after slur

The bank considered terminating the relationship with professional golfer Justin Thomas, but instead decided to use his platform to increase awareness of discrimination against the LGBTQ community, Chief Marketing Officer Carla Hassan said Monday in

Banks turn employees into social media envoys

Truist, First National Bank of Omaha and Peoples Bank in Washington state are finding creative ways for loan officers, financial advisers and others to become ambassadors on platforms including Facebook and Instagram.

Wings Financial to buy another bank

The Minnesota credit union’s deal for Brainerd Savings & Loan comes about 11 months after it bought Neighborhood National Bank in Minnesota.

How open banking can transform the U.S. payments market

U.S. banks and payment companies are looking to Europe's example to see how open banking can push the market beyond its reliance on credit and debit cards.