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

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Online lending startup Amount raises $81M in round led by Goldman

The tech firm spun off by Avant, which licenses its lending software to banks, has now raised $140 million this year.

After CARES Act clash, Mnuchin and Powell unite over need for more aid

Following their disagreement about emergency funds mandated by the last big relief package, the Treasury secretary and Fed chief urged House lawmakers to pass another stimulus bill by the end of the year.

Small businesses poised to hunker down in 2021: Bank of America survey

Though there is some optimism about an economic recovery, two-thirds of respondents said they expect revenue to be flat of down next year and just 13% plan to be in hiring mode.

EBay hires Discover’s U.S. cards chief to drive growth

EBay has hired Discover’s top U.S. cards executive, Julie Loger, for the newly created position of global chief growth officer.

Senate confirms Kyle Hauptman to NCUA board

The confirmation ensures Republicans will hold the majority vote at the credit union regulator until at least 2023.

Iowa bankruptcy judge cites requirement that creditors' counsel exercise restraint in fees and expenses incurred in reducing fee request by $65,834 to $153,613.

The amount of fees allowed to a substantially oversecured creditor, Farm Credit, in a complicated chapter 12 case was at issue before Judge Collins in In re Kurtenback, 2020 Bankr. LEXIS 3336, Case No 18-01607 (Bankr. N.D. Iowa, 30 Nov 2020). Debtor

New Chapter 11 Filing – Awesome Flight LLC

On December 2, 2020, Awesome Flight LLC, a company which provides on-demand helicopter air charter services and scenic tours throughout the New York City Metro and beyond, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code

New Chapter 11 Filing – Awesome Flight LLC

On December 2, 2020, Awesome Flight LLC, a company which provides on-demand helicopter air charter services and scenic tours throughout the New York City Metro and beyond, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code

Fed asking why banks aren't lending more

Vice Chairman of Supervision Randal Quarles said the agency wants to figure out why banks are holding on to capital that could be used more aggressively to respond to the pandemic.

Banks take harder look at expenses

First Horizon, TCF and Webster are among the banks eyeing efficiency initiatives that could include more branch closings, layoffs and reduction of office space. Expect others to follow suit as low rates and tepid loan demand tied to the pandemic

Trade group seeks underlying data behind OCC's 'fair access' proposal

The Bank Policy Institute submitted a Freedom of Information Act request to the Office of the Comptroller of the Currency requesting the agency's analysis used in crafting the plan.

Diversity programs force Americans to face uncomfortable truths

Controversies over trainings that address white male privilege detract from the important role DEI initiatives play in helping the country move forward.

Statute of Limitations: Is There a Time Limit on Debt Collection?

No matter who you are, getting a call from a debt collector can be a daunting experience. Just because you owe a debt, however, does not always mean that you are legally obligated to pay it. Under the law, creditors have a window of opportunity to

Online lender LendUp launches challenger bank

Like LendUp, a small-dollar lender, Ahead Financials is targeting consumers who are gainfully employed but have blemished credit histories.

Banks' net interest margins plunged to record lows in 3Q

The Federal Deposit Insurance Corp.’s latest report on the industry’s health had positive news about the earnings recovery last quarter, but it also showed that low interest rates amid continuing economic uncertainty are putting downward pressure on

As Congress weighs new stimulus, senators spar over old one's demise

Tuesday's hearing on the CARES Act was dominated by bickering over Treasury's decision to shut down the Fed's emergency lending facilities, drowning out pleas from some lawmakers for more aid.

Hiway expands field of membership, tweaks branding after charter change

The credit union now has a community charter to serve seven counties in addition to several select employee groups.

Banks delay office reopenings until well into 2021

With COVID-19 cases soaring, a growing number of banks, including JPMorgan Chase, U.S. Bancorp and Capital One, have pushed back target dates for bringing employees back to offices. Some are even allowing them to work from home indefinitely.

OCC announces 3% cut to assessments in 2021

The reduction marks the third time in three years the agency has cut annual fees for national banks.

Veteran CEO of BlueOx Credit Union to retire

Fran Godfrey, who has spent more than 35 years at the Michigan-based institution, will step down at the end of January.