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

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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

America First CEO to retire following 46-year career

John Lund joined the Utah-based credit union as a courier in 1975 and was named CEO in 2012. His successor has spent more than three decades there.

Midwest Recovery Systems Received Millions Collecting Fake Debts

The FTC alleged that Midwest Recovery, and owners Brandon M. Tumber, Kenny W. Conway and Joseph H. Smith, collected more than $24 million from consumers on such debts, largely by debt parking. What is “debt parking”, also known as “passive debt

In re Buffets: A Fees-t for the United States Trustee

The holidays came early for the United States Trustee (the “U.S. Trustee”) on November, 3, 2020, when a three-judge panel of the United States Circuit Court for the Fifth Circuit, on direct appeal, reversed the bankruptcy court and upheld the

National banks may process stablecoin payments, OCC says

The digital currency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the Currency.

Lender Affirm seeks to raise up to $934 million in IPO

Affirm Holdings, which provides installment loans to online shoppers, is seeking to raise up to $934.8 million in an initial public offering, signaling last year’s record listings run is carrying over to 2021.

Saga over regulating debt collectors will continue in 2021

The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden

NAFCU to CDC: Prioritize coronavirus vaccinations for credit union staff

The trade group is the latest to call for financial services workers to be moved closer to the front of the line as COVID-19 vaccinations are distributed.

What financial support is available for UK businesses in 2021?

With the announcement of a further national lockdown the wind has somewhat been taken out of the sails of businesses hoping to get back on their feet in early 2021, that is following the good news about the COVID-19 vaccine. It has been a bumpy ride

JPMorgan in talks with China bank on wealth venture

JPMorgan Chase is seeking to establish another Chinese joint venture in wealth management as the nation's financial opening has spurred a rush by global banks to capture a piece of a market that is estimated to grow to as much as $30 trillion in 2023

There are Problems Mediation Can’t Solve (Ripa v. Perfetti)

By: Donald L Swanson Lots of things are wrong with the case of Ripa v. Perfetti [Fn. 1]. The ills start with this fact: all parties are pro se. The case illustrates, once again, that limitations exist on the problems mediation can solve. In this case

JPMorgan, partners end health care venture; why Fed's Main Street flopped

Haven Health, which included Amazon and Berkshire Hathaway, had little to show after three years; the Federal Reserve’s lending scheme hasn’t been able to find its niche nor attract banks.

How long will credit unions' respite on problem loans last?

Stimulus payments and deferrals have helped borrowers stay current, but lenders must brace for a capital hit when those benefits eventually run out.

Lenders to small landlords brace for credit losses

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start

Bankruptcy Substitutes and How You Can Settle Your Debts

Bankruptcy Substitutes and How You Can Settle Your Debts Understanding the Variety of Bankruptcy Substitute Options A lot of people think of bankruptcy as a last-resort option – mistakenly, since it can provide profound debt relief and help you

SVB to pay $900 million for Boston Private

The California company, which focuses on technology companies and entrepreneurs, will make a big push into wealth management as part of the proposed acquisition.

Attention Buyers of Assets in Bankruptcy: How To Be A Good Faith Purchaser and Ensure Any Post-Closing Challenges Will Be Dismissed as Statutorily Moot Under Section 363(m) of the Bankruptcy Code

Introduction Two recent district court decisions, each involving appeals of a bankruptcy sale order where the appellant(s) failed to obtain a stay pending appeal, provide insight into statutory mootness under section 363(m) of the Bankruptcy Code. 

NCUA seeks input to improve transparency

The panel unanimously approved the measure by a notation vote, its second such move in weeks, and the proposal will now be subject to a comment period.

AmeriChoice FCU finds next CEO close to home

The Mechanicsburg, Pa.-based institution's newest chief executive most recently served as an executive at another Harrisburg-area credit union.

How decentralized finance could reshape banking

Silvergate and Avanti are among the banks pioneering the incorporation of smart contracts, cryptocurrencies and other cutting-edge instruments into mainstream financial services.