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First half: Brett King says the OCC fintech charter is overdue. Second half: fintech and refugees.

Read More from: BankThink

6 days 12 hours ago

In addition to transforming Columbia Banking System and navigating it through the financial crisis, Dressel was an industry leader.

Read More from: BankThink

6 days 12 hours ago

Why is bankruptcy an acceptable, legitimate means to try to save your home and deal with other debt ?   William D. Cohan, writing in the New York Times, gives us the answer:

“Indeed, for corporations across the country, both big and small, using the bankruptcy process to eliminate unwanted debt and liabilities is such an accepted practice that we don’t really give it much thought anymore. That is the beauty of the corporate bankruptcy process (if you care to look at it that way): Creditors must acknowledge they made poor investments by taking a fraction of their original principal and companies get a second chance.

Why, then, can’t a similar process be put in place to help the millions of American homeowners who for whatever personal reasons — usually no less justifiable than those offered up by G.M. or Chrysler — are unable to make their monthly mortgage payments? Why do the corporate fat cats get a respected and legitimate way to flush their unwanted debts but individual Americans homeowners don’t?”  click here for the full story

6 days 23 hours ago

Attorney Ron SykstusSince all of us are human, we all have normal desires for companionship. Those desires, however, when coupled with bad people and the ubiquitous internet can, unfortunately, sometimes lead to negative consequences.  This is especially true for anyone who holds a security clearance.  Whether the problem is due to drugs, alcohol, financial, criminal issues or sexual behavior, if someone holds a security clearance and that clearance is required for his or her job, then any problem issues for a person can be problems for the government as far as how it views someone who holds a clearance.

Sextortion Sting Operations

Now, what has recently been in the news, are these sextortion sting operations where someone is caught in a compromising situation.  Since the military branches see it as a problem for their service members, then that means that this is something that affects the entire population as a whole. These articles have good advice and counsel on how to approach this situation if someone, unfortunately, finds himself or herself twisted into this type of nightmare scenario.

Read More from: Bonds & Botes, P.C.

1 week 21 min ago

retirement regulationCongress has taken the first step to bar states from sponsoring inexpensive retirement plans for employees.

In the name of cutting regulation, H.J. Res. 66 repeals a regulation allowing states to promote retirement savings with plans of their own devising.

The regulation doesn’t require anyone to do anything.  It allows states to experiment with low cost, opt out retirement plans.

Americans are frighteningly unprepared for their old age.  Half of American families have no retirement savings.  The median retirement savings is $5000.

1 week 23 hours ago

This is a joint post by Mark Weidemaier and Mitu Gulati

In a previous post, we talked about how ordinary corporate-law principles, and especially the rules concerning piercing the corporate veil, might play an important role in any debt restructuring conducted by Venezuela or PDVSA, the state oil company. As an example, we cited the fact that PDVSA doesn't own the oil reserves it exploits and the possibility that Venezuela might transfer the right to exploit these reserves to a new entity. Readers who have been following the Venezuelan crisis will recognize that we were not-too-subtly referring to a proposal floated back in October 2016 by Ricardo Hausmann and Mark Walker, writing on Project Syndicate. (Registration required.) In a nutshell, their proposal with regard to PDVSA is that Venezuela can induce PDVSA creditors to participate in a restructuring--conducted either in bankruptcy or through the use of exit consents--by withdrawing or modifying PDVSA's right to exploit hydrocarbon reserves. Essentially, that is, Venezuela can strip the company of its primary productive asset.

Read More from: Credit Slips

1 week 2 days ago

Many customers at Neighborhood National Bank in San Diego offer check-cashing services that draw attention for Bank Secrecy Act compliance.

Read More from: BankThink

1 week 2 days ago

Steven Mnuchin was selected for Treasury Secretary because of his experience at Goldman Sachs and OneWest Bank. But Mnuchin is also known in Hollywood as a "money man." Following are selected films from his many credits.

Read More from: BankThink

1 week 2 days ago

The number of new checking accounts at the embattled Wells Fargo fell by double digits year over year, and account closures remained brisk. Yet the figures on credit card applications were worse.

Read More from: BankThink

1 week 2 days ago

Freddie Mac is ramping up its use of credit risk transfers, completing $215 billion in single-family transfers last year, up to $600 billion since 2013.

Read More from: BankThink

1 week 2 days ago

Bank of America awarded Chief Executive Officer Brian T. Moynihan $20 million for his work last year, raising his compensation 25 percent.

Read More from: BankThink

1 week 2 days ago

Fannie Mae said it earned $5 billion in the fourth quarter, doubling its profits from a year earlier with a big boost from gains on derivatives the company uses to hedge risk.

Read More from: BankThink

1 week 2 days ago

The Consumer Financial Protection Bureau's temporary legal victory on Thursday has lowered the odds that President Trump will seek to remove the agency's director, Richard Cordray, despite repeated calls by prominent Republicans for his ouster.

Read More from: BankThink

1 week 2 days ago

The Chicago Federal Home Loan Bank experienced a significant jump in mortgage originations in 2016 due to a "re-introduction" of its traditional Mortgage Partnership Finance loan product.

Read More from: BankThink

1 week 2 days ago

Activists are pressuring banks involved in financing the controversial Dakota Access pipeline to abandon the project by threatening to withdraw their money and sever business ties. Can that tactic change how banks approach lending – and what does it mean for banking if it can?

Read More from: BankThink

1 week 2 days ago

The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.

Read More from: BankThink

1 week 2 days ago

Michael Corbat is getting a pay cut for a year when Citigroup's profit fell 14% and return on assets failed to meet his 2016 target.

Read More from: BankThink

1 week 2 days ago

Fear Of Failure To List Creditors There is a fear that many chapter 7 debtors have with regard to failing to properly list creditors. The bankruptcy code provides that creditors be given due process with regard to the bankruptcy filing. This means that creditors must be given notice of the bankruptcy so that they have+ Read More

The post Chapter 7 Debtor Brings Motion To Reopen In Aurora appeared first on David M. Siegel.

1 week 2 days ago

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