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

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Why Should I Hire a Bankruptcy Lawyer?

If you are considering filing for bankruptcy, you should hire an experienced bankruptcy lawyer to help you manage the process. Bankruptcy laws are incredibly complex. A lawyer will make declaring bankruptcy easier, faster, and more successful

The OCC Stands Up for Fossil Fuels, Gun Makers, Opioid Manufacturers, and Payday Lenders

Those wascally wabbits at OCC are back at it again in the waning light of the Trumpshchina. The OCC has proposed a rule on "Fair Access to Financial Services." The gist of the rule is that banks cannot deny service to business based on the bank's

OCC seeks to bar banks from shunning disfavored industries

Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.

Are We Facing a Wave of Auto Repossessions?

Back in January and early February, some financial experts were predicting that subprime auto loans–vehicle loans to people with lower credit scores who were considered higher risk–might be the next housing bubble. Between 2009 and 2019, U.S

'Double-dip recession' could be in the cards: CUNA Mutual

The company's latest report predicted there could be sustained economic pressures well into next year tied to rising coronavirus cases.

PNC’s deal for BBVA, Trump’s OCC pick, Banking Committee reorg: Top stories of the week

Why PNC spent its war chest on BBVA; Trump’s 11th-hour nomination of Brian Brooks to run OCC complicates Biden regulatory agenda; Senate may not flip but Banking Committee is poised for shake-up; and more from this week’s most-read stories.

Global banking group issues carbon accounting standards

The Partnership for Carbon Accounting Financials recently released a methodology for measuring the environmental impact of loans and investments, a key hurdle to the banking industry's long-term goal of net-zero emissions tied to its portfolios.

Congress splits along party lines over move to end Fed facilities

Democrats called the decision by Treasury Secretary Steve Mnuchin "misguided," arguing that it's too soon to shutter the Federal Reserve's emergency-lending programs. Republicans say the programs have run their course and should expire a the end of

A digital bank for the LGBT community

Daylight's initial product lineup includes a prepaid debit card with the customer’s chosen name and educational content around issues unique to LGBT households.

Congress about to relieve banks of a key AML burden

Banks are responsible for reporting their business customers' beneficial owners, but a bill that would shift that anti-money-laundering duty to businesses themselves has been added to a must-pass defense spending package.

What will it take to boost SBA lending?

Lenders want Congress to bring back incentives used during the last recession, such as bigger subsidies and reduced fees, to jump-start participation in the Small Business Administration's flagship 7(a) program.

4 ways the banking sector can boost financial inclusion

The pandemic has highlighted massive inequalities in American life but the financial services industry can play a role in reducing these divisions.

To weed out data bias, hire more Black analysts

The algorithms banks use to assess the financial well-being of minorities would be more effective if Black analysts crunched the numbers, says Troynica Green, a data analyst at Regions Bank.

Trump’s 11th-hour pick to run OCC complicates Biden regulatory agenda

If Congress speeds through Brian Brooks’ confirmation in the waning days of the Trump administration, it could make it harder for President-elect Biden to quickly put his stamp on banking policy.

Treasury wants CARES Act programs to expire. Fed says not so fast.

Treasury Secretary Steven Mnuchin called on the Federal Reserve Thursday to let several of its emergency lending facilities expire at yearend and return unused funds provided by Congress. But the central bank wants the programs to continue.

NCUA considering outside help to boost diversity survey participation

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021.

E-commerce surge rekindles debit fee fight between merchants and industry

The Federal Reserve is facing pressure to allow retailers to route PIN-less debit-card purchases over their choice of networks. It’s a new stage in an old battle, fueled by the shift toward online shopping during the pandemic.

Economic fears drive dues reduction at New York Credit Union Association

The league has altered its formula for calculating member dues, a move expected to save credit unions nearly $800,000 next year.

With bank charter in hand, Varo sweetens its offerings

The company's new relationship with Billshark highlights its quest for partners that can deliver financial management products to complement its banking services.

Banks aren’t done building credit reserves just yet

Just a few months after signaling that provisions for loan losses had peaked, many banks are planning to once again add to reserves to guard against pandemic-related defaults, according to a survey released by IntraFi Network.