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

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Truist selling its institutional investment businesses

The North Carolina regional has sold an advisory business and has found buyers for two 401(k) bookkeeping operations.

COVID-19 Relief Package Includes Amendments to Section 366 of the Bankruptcy Code

By Keila Estevez Associate, Bernstein-Burkley, P.C. Keri Ebeck, Esq. Partner at Bernstein-Burkley, P.C. On December 27, 2020, President Trump signed a new $900 billion COVID-19 Relief Package. The bill provides … The post COVID-19 Relief Package

Wall Street Pioneer on the Economy, Leadership and DE&I

If you haven't met Suzanne Shank you should. She is the chair and CEO of Siebert Brandford Shank & Co. LLC, the nation’s largest female-and minority-owned, privately held finance firm, which she started with the legendary Muriel Siebert. Join us in

Tiny South Carolina credit union is NCUA's first conservatorship of 2021

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said.

COVID-19 Relief Package Includes Amendments to Section 366 of the Bankruptcy Code

By Keila Estevez Associate, Bernstein-Burkley, P.C. On December 27, 2020, President Trump signed a new $900 billion COVID-19 Relief Package. The bill provides for certain bankruptcy protections. Pursuant to Division FF, Title X-Bankruptcy Relief

New stimulus checks appear to be excluded from bankruptcy estate

$600 stimulus (actually advance on tax credit) not subject to assignment/levy. Note, substantial condensing of section, but I believe this is the answer. "SEC. 6428A. ADDITIONAL 2020 RECOVERY REBATES FOR INDIVIDUALS. "(a) In General.--In addition to

Wells Fargo freed from OCC ALM order; Trump bans Chinese payment apps

While a positive development, the bank is still operating under 10 other enforcement actions; the president said Alipay, WeChat Pay and six other apps pose national security risks.

Credit union-backed lawmakers among those contesting election

Several members of Congress challenging the result of the 2020 presidential contest received financial support from trade groups that could find themselves in hot water with some constituents.

UpCity Ranks Bob Gold & Associates a Top Public Relations Agency in Los Angeles for 2021

January 6, 2020 UpCity.com understands that PR is about more than just distributing news releases. A good public relations agency should be able to understand your business and identify and improve your brand’s image, but how to you find the best fit

Bankruptcy Court Holds Federal Credit Union to be Governmental Unit for Purposes of the United States Bankruptcy Code

The United States Bankruptcy Court for the District of New Mexico recently held that a federal credit union chartered under the Federal Credit Union Act, 12 U.S.C. §§ 1752, et seq., constitutes an “instrumentality of the United States” included in

SVB chooses to buy rather than build in wealth management

Acquiring Boston Private could put the parent company of Silicon Valley Bank years ahead of schedule in catering to the investment needs of high-tech and biomedical clients, whose industries have thrived during the pandemic.

CFPB well positioned to oversee fintechs, task force says

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.

Wells Fargo released from one enforcement order, still has 10 to go

The Office of the Comptroller of the Currency terminated a 2015 consent order that required the bank to improve its controls for combating money laundering.

Associated to sell wealth management unit

Rockefeller Capital Management will buy Whitnell & Co., a business Associated bought in 2017 that manages $1.4 billion of assets.

New York leads states’ push to overturn OCC’s ‘rent-a-bank’ rule

Seven states and the District of Columbia want to invalidate a new federal rule that threatens to hinder states’ power to cap interest rates on consumer loans.

New York Court of Appeals Splits From Second Circuit on Minority Bondholders’ Rights in Out of Court Restructurings

The New York Court of Appeals recently handed down an important opinion on out of court restructurings involving bond debt. In CNH Diversified Opportunities Master Account, L.P., v. Cleveland Unlimited, Inc., the Court of Appeals, in a 4–3 ruling

The Kraninger Discount

The CFPB has been chugging out enforcement actions and settlements at a fairly fast clip the last several months. Part of that might be businesses deciding to settle because they think they're going to get a better deal with Director Kraninger than

Why this tech vet left a superregional to join Quontic Bank

Felix Todd, formerly of Regions Financial, says "the excitement is authentic" at the New York community development bank, which has a reputation for being both innovative and purpose-driven.

Modern Monetary Theorists. The Ghosts of Inflation Past?

Modern Monetary Theorists and Jacob Marley Unlike Scrooge’s deceased business partner, Marley, we don’t believe that inflation has met the same fate. It is subdued, but lives. Despite the assertions of Modern Monetary Theorists (MMT), we disagree

FICO and Personal Bankruptcy

FICO and Personal Bankruptcy When clients contact me for a consultation with respect to a personal bankruptcy filing, they will often ask how this could impact their FICO score. My reply is that the impact of a filing on their FICO score is of