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

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Biden transition teams add credit union CEO and former NCUA staffer

Bill Bynum, president and CEO of Hope Federal Credit Union, and Gail Laster, former director of the National Credit Union Administration's consumer protection division, are working with the incoming administration.

BMO Financial pledges $5 billion to tackle U.S. racial wealth gap

The Toronto parent of BMO Harris Bank has joined a growing list of banks directing billions of dollars toward affordable housing and loans to low- and moderate-income communities.

JPMorgan no longer stands alone as most important bank

JPMorgan Chase dropped one rung on the Financial Stability Board’s annual rankings of systemically important banks to sit alongside Citigroup and HSBC Holdings as one of the world’s three most important banks.

Why PPP fraud hit fintechs harder than banks

Scammers may have had more success at duping fintechs than banks in obtaining Paycheck Protection Program loans. But there are reasons for this apparent disparity.

Fifth Third shuffles executive lineup after CFO joins BMO

Fifth Third Bancorp. promoted Chief Risk Officer Jamie Leonard to succeed Tayfun Tuzun, who will become chief financial officer of BMO Financial Group on Jan. 1. Both companies made other executive moves at the same time.

Politics, masks: How to defuse workplace tensions

Managers have been trained on how to resolve conflicts with customers. They can use that training to minimize intraoffice political squabbling.

New Chapter 11 Filing – Transformation Tech Investors, Inc.

On November 11, 2020, Transformation Tech Investors, Inc., a Missouri-based provider of security, network, voice and business intelligence services, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the

New Chapter 11 Filing – Transformation Tech Investors, Inc.

On November 11, 2020, Transformation Tech Investors, Inc., a Missouri-based provider of security, network, voice and business intelligence services, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the

Biden adds bank critics to transition team; will Biden get any Fed picks?

The group includes many advocates for stricter bank regulation from the Obama administration; the president-elect may have as many as three open seats on the central bank or as few as none.

Why banking groups are congratulating Biden, even if Trump won’t

With many Americans and members of Congress questioning the results of the presidential election, financial services trade associations quickly vowed to work with the incoming administration.

OCC Issues Final "True Lender" Rule

On October 27, 2020, the Office of the Comptroller of the Currency (“OCC”) issued the final version of its “true lender” rule (the “Final Rule”). The Final Rule resolves uncertainty regarding which entity in a lending partnership between a bank and a

Biden’s tough choice on who will lead Treasury

A moderate pick with financial sector ties could upset progressives, while the likely GOP majority in the Senate could balk at a nominee seen as too liberal. Here are some of the candidates.

BBVA and Prosper partner to offer digital home equity lines

The two companies first started collaborating last year, but now BBVA has white-labeled Prosper’s technology on its own website.

GOP senators push regulatory relief for PPP banks

Regulators were receptive to Republican lawmakers' calls to ease burdens on banks that cross new asset thresholds as a result of their participation in the Paycheck Protection Program.

NCUA's Hood to Senate panel: Extend CARES Act provisions for credit unions

The chairman of the National Credit Union Administration said during his limited time in a Senate Banking Committee hearing that he hoped changes to the agency's Central Liquidity Facility would last for the duration of the pandemic.

Capital One promotes Lia Dean to head of retail banking

Dean, who joined Capital One in 2014, succeeds Kleber Santos, who left the bank earlier this month to lead diversity initiatives at Wells Fargo.

Citi details risk system triage

“We’re going to be looking at … what caused us to not be able to close some of these gaps in the past,” Citigroup's new Chief Administrative Officer Karen Peetz says of the effort to fix shortcomings in internal controls that have plagued the company

New Chapter 11 Filing – Media Lodge, Inc.

On November 10, 2020, Media Lodge, Inc., a Minnesota-based media production company dedicated to outdoor enthusiasts, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case 20

New Chapter 11 Filing – Media Lodge, Inc.

On November 10, 2020, Media Lodge, Inc., a Minnesota-based media production company dedicated to outdoor enthusiasts, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case 20

Community banks poised to resume stock buybacks

Many small banks are reactivating repurchase programs, signaling that capital levels remain strong and credit issues are under control.