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

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Fifth Circuit Resurrects Fraud Suit Based on Removal to Bankruptcy Court

In a very convoluted case, a plaintiff learned that removal to Bankruptcy Court can result in a do-over of adverse state court rulings. Cohen v. Gilmore (Matter of Alabama & Dunlavy), Case No. 19-20152 (5th Cir. 12/15/20). While the Rooker-Feldman

To lend to doctors, banks get an assist from fintechs

Fifth Third is partnering with Provide and Panacea Financial works with Sonabank in Virginia to meet the specialized needs of medical professionals who own their own practices.

FDIC finishes long-awaited rules on brokered funds, ILCs

The revamp of the brokered deposits framework offers relief to banks and their partners that saw the prior rule as outdated. Meanwhile, new standards for industrial loan company parents aim to clarify the bank chartering process for fintechs and

Apollo Group in $2.3 billion deal for ATM maker Cardtronics

Cardtronics has benefited from a wave of branch closings during the pandemic by partnering with lenders looking to offer their customers access to cash even when a full-scale branch isn’t available.

Fed joins global panel focused on fighting climate change

The Federal Reserve said Tuesday that it had joined the Network of Central Banks and Supervisors for Greening the Financial System after participating in discussions with the group for over a year.

Episode 97 – Next Lawyer Up with Ron Sykstus featuring Jason Lazarus

Jason Lazarus clearly has an entrepreneurial spirit and that is evident from his career. As you’ll hear on the podcast, this goes back to when he was 10 years old and his parents moved him from his home in Marlboro, New Jersey to Orlando, Florida to

Mnuchin rules out freeing Fannie-Freddie before Biden takes over

Treasury Secretary Steven Mnuchin has all but ruled out letting Fannie Mae and Freddie Mac exit U.S. control before he steps down, leaving it to the Biden administration to decide the fates of the mortgage giants.

iQ Credit Union CEO to step down for philanthropic job

Kelly Schrader will leave the Vancouver, Wash.-based institution on Jan. 1, and Eric Petracca will take over as president and CEO.

Should You Stop Paying Bills Before Filing for Bankruptcy?

One of the most common questions debtors ask before filing for bankruptcy is whether they should stop paying their bills or other expenses. After all, if you are already struggling to make ends meet and anticipate having your debts discharged , it

Quontic Bank launches bitcoin rewards checking with help from NYDIG

The community bank and fintech are offering the first live bank account and debit card that offer rewards in the form of bitcoin.

Projecting Means Test Tax Expense When Things Change

Bankruptcy means test tax projections get more complicated when the year of filing situation looks much different than the last year. If the financial situation is essentially unchanged and all you have to do is adjust for a tax refund or a tax

A Newly Proposed “Consumer Bankruptcy Reform Act of 2020”

By: Donald L Swanson A new bankruptcy Bill in Congress is titled, “ Consumer Bankruptcy Reform Act of 2020.” It would replace the existing Chapter 7 and Chapter 13 of the Bankruptcy Code with a new Chapter 10. It is 188 pages long and includes an

CRE market could get even worse; U.K. mortgage lenders move to 90% LTV

The already-struggling commercial property market may face even more problems in 2021; NatWest, joins Lloyds Bank in lowering down payments in a booming residential market.

The Concerning Impact of Brexit on OTC-Derivatives

For derivative transactions that are relocated from the United Kingdom to the EEA or newly concluded there, in many cases new master agreements must be concluded between the involved parties. The total volume of European derivatives trading (measured

Sweeping Bankruptcy Reform Bill Introduced

Introducing a bill in a House controlled by one party, near the end of a lame duck session, when the other party controls the other House of Congress, is what I call virtue signaling. Nevertheless, we will take a short dive into the bankruptcy reform

Another round of hazard pay unlikely as pandemic’s second wave worsens

Some credit unions that gave bonuses to front-line staff at the onset of the coronavirus outbreak may be too cash-strapped to offer similar payouts during this latest surge.

Ameriprise, CI eyeing Wells Fargo's asset management arm

Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources.

U.S. lost 5% of bank branches between 2017 and 2020

The accelerating pace of branch closures is partly due to industry consolidation, according to the community reinvestment group that authored the new report.

Huntington bets economic rebound, cost savings will justify TCF deal

The Columbus, Ohio, company says it has delivered on M&A promises before, and many observers say its deal for rival TCF Financial is an opportunistic move in its bid to build a Midwestern powerhouse. But others questioned whether Huntington's cost

Happy State expanding share of West Texas market with acquisition

The Amarillo bank is buying First National Bank of Tahoka, continuing the industry’s consolidation in the state.