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

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BNP Paribas appoints Claudine Gallagher as HR head for CIB Americas

The promotion is the second this year for Gallagher, who will remain in her current role as chief conduct and control officer until a replacement is found.

Supreme Court hints FHFA's Calabria could keep job after all

Many have assumed the high court would rule that presidents can fire the Federal Housing Finance Agency director at will. But during oral arguments in a case challenging the agency’s structure, some justices suggested they could stop short of such a

The Vaccine, New Shutdown Orders and Family Gatherings with Dr. David Riddle

Are you ready for COVID to be over and get back to living your life again? Don’t miss today’s special Facebook Live interview with Dr. David Riddle. As we discuss: The Vaccine, New Shutdown Orders and Family Gatherings at Christmas We address some of

Fifth Third commits $2.8 billion to help lift underserved communities

The Cincinnati bank joins a growing list of banks pledging billions of dollars to fight systemic racism and help close the wealth gap that exists between white and minority households.

Funding for SBA-backed loan pools dries up

A program that lets firms bundle Small Business Administration loans is on hold while Congress spars over a new budget. The impasse is causing headaches for banks that rely on loan sales for fee income.

General Motors faces ‘big task’ in building a bank: Ally CEO

The automaker is reportedly planning to apply for a bank charter so it could collect deposits and grow its own auto-finance business. That could create more competition for Ally, which was spun off from GM in 2006 but remains a key lending partner.

NYC's coffee-cart woes spur $2 million Morgan Stanley grant

As Morgan Stanley's bankers scattered from Manhattan's Times Square to their home offices during the pandemic, some asked: How are the coffee-cart vendors doing? The answer: terribly.

Regions Financial's Chief Operating Officer John Owen to retire

The bank will divvy up Owen's responsibilities among three other executives, including Kate Danella, who will become chief strategy and client experience officer.

Is Someone Trying to Collect On a Debt You Already Paid or is Not Yours?

Have you received a demand that you pay a debt you don’t owe, or already paid? Reprint of an article from the Federal Tradc Commission “FTC.gov”, September 29, 2020 Nobody likes getting debt collection calls. But have you ever gotten one for a debt

BofA’s Moynihan urges Congress to act on second federal stimulus

Speaking at an investor conference, Bank of America's CEO said that additional aid is needed to help consumers, businesses, nonprofits and local governments ride out the pandemic.

Wells Fargo partners with Bill.com to automate bookkeeping for clients

The bank will now let business customers receive and pay invoices from within online and mobile banking.

The Consumer Bankruptcy Reform Act of 2020

Today Senators Elizabeth Warren (D-MA), Dick Durbin (D-IL), and Sheldon Whitehouse (D-RI) and Representatives Jerrold Nadler (D-NY) and David Cicilline (D-RI) introduced the Consumer Bankruptcy Reform Act of 2020. This is the first major consumer

Should credit unions force staff to get COVID vaccine?

It's legal to require vaccinations to ensure health and safety in branches, but employers risk adding to workplace tension.

A Biden CFPB could put pressure on mortgage servicers

The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to

Biden's pick to lead HUD is Ohio Congresswoman Marcia Fudge

Fudge, who has served in the House since 2008, represents most of the majority-Black areas of Cleveland as well as part of Akron.

How Much Does Bankruptcy Cost?

If you are struggling with overwhelming debt, you may be wondering how much it can cost to file for bankruptcy. It is often far less than the debt you will be eliminating. Paying for an attorney may be concerning when your debt already feels

Bank CEOs more upbeat about 2021 as vaccines emerge

Executives from U.S. banks continue to play down near-term expectations, but they say customers are growing more confident ahead of the rollout of coronavirus vaccines, and that key commercial lending segments could drive an economic rebound.

CEOs lamenting diversity pipeline is a ‘cop-out,’ former Amex chief says

Corporate heads shouldn’t blame a limited pool of talent on their inability to promote and hire Black executives, said Kenneth Chenault, the former longtime chief executive of American Express.

Puerto Rico News

The President today announced he was appointing the following people to the PROMESA oversight board. It is not immediately clear which slots these people are filling (that is, who nominated these people). There are three open (presidential) slots at

Hot Wells Fargo stock belies bank’s doubts on ending Fed cap

A number of top Wells executives privately expect it won’t be able to escape the limit on assets until late next year at the earliest, while key Fed officials see the process dragging into 2022 or beyond, according to people familiar with their