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

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New year, little change in credit union auto lending outlook

After a slowdown in 2020, inventory shortages and other factors could make the months ahead a grind for many lenders.

Rakuten mounts third attempt for industrial bank charter

After withdrawing two previous bids, the e-commerce company submitted an application to the FDIC outlining a significantly simpler business model for a proposed industrial loan company.

California's DFPI issues subpoenas to debt collectors

The state agency alleged potential violations of “unlawful, unfair, deceptive or abusive” practices by a dozen companies.

First Busey to expand around Chicago with acquisition

The Illinois company will pay $191 million for the parent of Glenview State Bank.

Altabancorp in Utah faces calls to sell from its biggest shareholder

Members of the Gunther family who own nearly a third of the company's stock are urging the board to consider strategic alternatives.

Western Union stores join MoneyGram under Walmart's roof

The pandemic has made for strange bedfellows. Case in point: Western Union and MoneyGram will soon share Walmart as a landlord.

FHFA asks for input on GSEs' exposure to climate change

In a request for information, the agency sought feedback on how it should prioritize climate risks as part of its supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

LendingClub-Radius Bank deal clears final regulatory hurdles

LendingClub, poised to be the first U.S. online lender to buy a bank, says the transaction will be completed in early February now that it has received approvals from the Office of the Comptroller of the Currency and the Federal Reserve.

Yellen’s banking agenda: Confront climate risks, launch AML registry

Former Fed Chair Janet Yellen told senators that as Treasury secretary she would create a “hub” to examine the effects of a changing climate on financial institutions and create a database of companies' true owners as required by a recent anti-money

Goldman’s consumer bank will take longer to break even, CEO says

Its Marcus unit continues to invest in new products and business lines, delaying its path to profitability, according to Goldman Sachs CEO David Solomon.

Bank of America likes what it sees in consumer spending

Payments activity “snapped back” in the fourth quarter and should lift revenue the next few quarters, CEO Brian Moynihan said.

Nasdaq’s Board Diversity Proposal

The SEC continues to consider and take public comment on Nasdaq’s December 2020 Board Diversity Proposal. That proposal, if approved as written, would require Nasdaq-listed issuers to disclose their board diversity composition annually and eventually

Week ahead: Transition in Washington

President-elect Joe Biden is scheduled to take the oath of office on Wednesday, but other changes that pertain to credit unions are also happening.

What two U.S. Bank execs saw and liked at CES

Todder Moning and Valerie Lancelle, who work in the bank’s innovation group, said they were especially impressed by demos of immersive technology, 5G and ambient computing.

BofA's Wall Street unit falls short of rivals during bumper year

Revenue from sales and trading rose 7% to $3.06 billion in the fourth quarter, missing analysts' $3.15 billion forecast. The division, helmed by Jim DeMare, was hurt by unexpected weakness in fixed-income trading.

Truliant finds new CFO close to home

Cosby Davis joins the executive team at North Carolina's third-largest credit union after nearly a decade at nearby Allegacy Federal Credit Union.

Goldman Sachs dealmakers drive surge in fourth-quarter profit

Goldman Sachs' dealmakers capped their record year with a fourth-quarter revenue jump that helped profit more than double.

Biden taps Chopra to lead CFPB; Fitch looks to detect bad bank behavior

The Obama-era official is expected to reverse the relaxed regulatory stances at the CFPB; the ratings firm is teaming with a French AI startup to try to detect misbehavior early.

Mediation: Persisting Despite Early Failures (Kellogg v. Progressive)

By: Donald L. Swanson “Failure” in a mediation is difficult to define. For hypothetical examples: Is it a “failure” when a lawsuit fails to settle in a mediation session? Is it a “failure” when a lawsuit fails to settle in a second mediation session

Does Retention of Property Violate the Automatic Stay in Bankruptcy? The Supreme Court Weighs In.

On January 14, 2021, the Supreme Court of the United States resolved a circuit split by unanimously holding that the “mere retention of property” by a creditor after the time a debtor files its bankruptcy petition does not violate the automatic stay