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

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Visa drops bid to buy Plaid; Brown outlines Senate banking committee agenda

The company said it would have eventually prevailed against the DOJ’s antitrust suit; the Ohio senator says the panel will focus on climate change and housing issues.

What Democrats' control of Congress could mean for credit unions

A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws.

Are CRE foreclosures on the horizon?

Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are renewing questions about credit quality.

Commercial Landlords Take Note – COVID Relief Bill Contains Important Bankruptcy Code Amendments

The much-ballyhooed COVID relief bill passed by Congress at the end of last year, in addition to providing for $600 checks to millions of people, includes several COVID-related amendments to the U.S. Bankruptcy Code. Some of these changes will have a

Acting Comptroller Brooks expected to step down soon

Brian Brooks is planning to leave the Office of the Comptroller of the Currency within days, according to a published report and a source familiar with the situation.

Visa and Plaid call off merger, ending DOJ litigation

Visa and Plaid have terminated their tie-up and reached an agreement with the Department of Justice to dismiss the litigation brought against them when the deal raised antitrust questions.

New Senate Banking chief sets dramatic change of course

Sen. Sherrod Brown, D-Ohio, said elevating affordable housing issues, examining the financial system through a climate and racial justice "lens" and holding banks accountable for their impact on consumers will be among his priorities.

Shifting consumer needs put new Synchrony CEO to the test

Synchrony wasn’t unscathed by the pandemic — consumer spending slowed during the first half of the year — but its mix of private-label and cobranded cards for everyday items suffered far less than other issuers' cards that emphasized luxury and

CFPB, OCC on collision course over who regulates fintechs

The Office of the Comptroller of the Currency appears intent on being the federal chartering agency for tech firms with banking ambitions. But some experts say the Consumer Financial Protection Bureau is better suited for the job.

Walmart's Ribbit pact gives it a jump on fintech innovation

Walmart's fintech venture with Ribbit Capital gives it a way to influence more technological developments in the retail industry.

Will PPP's uneven soft launch delay full rollout?

Several community banks said they didn't have enough time to review the Paycheck Protection Program's application forms, forcing them to sit out Monday's reopening. The SBA is not saying when more lenders will be allowed to access its portal.

Citi shuffles consumer banking leadership team

In a memo to staff on Tuesday, Citigroup announced a new head of U.S. consumer banking and said that two of its other high-ranking bankers would essentially switch roles.

Global banks warn of market chaos if court rushes Libor exit

Some of the world’s biggest banks are urging a U.S. judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.”

Wells Fargo establishes new office to oversee consumer practices

A team led by Michael Lipsitz, a lawyer hired away from Santander last year, will look at everything from whether prices are fair to whether complaint data contains notable trends.

Agencies may issue information request on AI adoption, Fed official says

Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.

CDC Federal Credit Union promotes longtime staffer to CEO

Australia Hoover, who started as a call center employee in 1996, succeeds Betsy Mercier, who is retiring after 22 years at the helm.

Deutsche, Signature to stop doing business with Trump and his company

In the wake of last week's riot at the U.S. Capitol, New York-based Signature is also calling on the president to resign before his term ends next week.

Joel R. Spivack Receives 2020 “Awesome Attorney” Award

We are very proud and excited to announce that Attorney Joel R. Spivack has been named in the South Jersey Magazine 2020 Awesome Attorneys List in the category of Bankruptcy and Creditor-Debtor Rights Law. This is the sixth consecutive year Mr

Keane stepping down as Synchrony CEO

The Stamford, Conn.-based credit card issuer said Tuesday that Brian Doubles, the president and former chief financial officer, will succeed Margaret Keane in April.

BofA halts political action committee spending decisions for now

Bank of America’s employee-funded political action committee is putting its allocation decisions on hold after a right-wing mob stormed the U.S. Capitol last week.