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When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.

Read More from: BankThink

2 days 20 hours ago

On Sept. 30, 2016. Dollars in thousands

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2 days 20 hours ago

On Sept. 30, 2016. Dollars in thousands.

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2 days 20 hours ago

The way we buy today is already different than just a few years ago. In a decade, it will be totally transformed. Here is what every company must do to stay relevant and competitive in the coming decade of unprecedented disruption.

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2 days 20 hours ago

Fearful banks hesitate on core conversions they need. But what's more risky? Keeping legacy technology? Or finally replacing it?

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2 days 20 hours ago

With U.S. Bancorp's leadership transition underway, the big question is whether it will deliver faster earnings growth — the one shareholder demand that has proven elusive.

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2 days 20 hours ago

The temptation for banks these days is to digitize as much as possible, but that generally results in spending a lot and doing nothing really well. Picking one of these three business models can help banks choose technology best suited to add value and thus get the most bang for their buck.

Read More from: BankThink

2 days 20 hours ago

Married couples share many aspects of their lives, including finances, which can make filing for bankruptcy a complicated decision.  In this article, our Roseville Chapter 13 bankruptcy attorneys discuss a few key aspects of how filing for bankruptcy can affect your spouse, including whether you are liable for your husband or wife’s debts, filing for bankruptcy without your spouse, and some of the reasons to consider – or avoid – filing jointly with your husband or wife in California.

Are You Liable for Your Spouse’s Debts in Chapter 7 or Chapter 13 Bankruptcy?

bankruptcy attorneys in california

3 days 6 hours ago

This is the bankruptcy case study for Ms. W., who resides in Chicago, Illinois. She is here to discuss filing for Chapter 7 bankruptcy. She recently lost her job. Her previous income was insufficient to cover her expenses after she became divorced. Let’s examine the facts of her case: She currently resides in Chicago and+ Read More

The post Bankruptcy Case Study appeared first on David M. Siegel.

3 days 7 hours ago

President Trump is considering bankers and financiers, not economists, to fill vacant Fed seats; the ABA is launching an ad campaign to roll back the Durbin Amendment on swipe fees.

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3 days 8 hours ago

As the Bank Secrecy Act approaches its 50th anniversary, legitimate questions have arisen about the efficacy of anti-money-laundering requirements and the burden of compliance.

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3 days 8 hours ago

Chief Executive Officer Stuart Gulliver is still battling to reverse five years of declining revenue as he pares back HSBC’s sprawling global footprint and reduces expenses.

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3 days 8 hours ago

Citigroup agreed to pay a penalty of almost $5.4 million to settle a South African antitrust investigation that said it participated in an alleged cartel to manipulate the value of the rand.

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3 days 8 hours ago

The Pittsburgh company is acquiring the U.S.-based commercial and vendor-finance operations of ECN Capital.

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3 days 8 hours ago

How to keep score in the industry and identify the truly victorious banks has never been tougher.

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3 days 8 hours ago

She will be joined on the board by Ronald Sargent, a retired chairman and CEO of the office-supply company Staples.

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3 days 8 hours ago


By Ed Adamczyk 

Feb. 17 (UPI) -- Total U.S. household debt climbed to a near-record $12.58 trillion by the end of 2016, a Federal Reserve Bank of New York report says.

February's 33-page "Quarterly Report of Household Debt and Credit" shows that every category of debt measured -- including mortgages, credit cards, student loans and auto loans -- saw an increase.

The total increase of $460 billion in 2016 was the largest in a decade. Mortgage balances, now at $8.48 trillion, made up 67 percent of the household debt.

At the current rate of growth, household debt is expected to break the 2008 record high, of $12.68 trillion, sometime in 2017. The year was marked by the start of a recession.

Read More from: Shenwick & Associates

3 days 9 hours ago

Kathryn DavisPayless Inc. is reportedly discussing a restructuring plan with its lenders. The restructuring plan would involve closings about 1000 of its stores. Currently, Payless operates more than 4400 stores around the country.

Shoe Seller May Be Forced to File Bankruptcy

According to sources familiar with Payless’ financial situation, the shoe seller might be forced to file bankruptcy if it is not able to work out a restructuring plan with creditors. It recently hired a law firm, Kirkland & Ellis to examine its $600 million debt load and look at ways that debt can be managed. Much of this debt was added three years age when the private equity firms Golden Gate and Blum Capital bought Payless.

It appears that Payless is suffering the same fate as some other companies such as Sports Authority and Wet Seal. Many retailers are feeling the pressure from falling foot traffic as more consumers are buying online.

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

3 days 10 hours ago

Pursuit Holdings (NY), LLC f/k/a Pursuit Holdings, LLC has filed a chapter 11 petition before the United States Bankruptcy Court of the District of Delaware (Case No. 17-10389).  Pursuit Holdings appears to be affiliated with hedge fund Sanford Partners, L.P. The petition, which includes a list of the debtor’s largest creditors, is available here.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

3 days 11 hours ago

 

Ocwen , the mortgage servicing giant will pay $20 million in settlement with California regulators for sloppy practices.

Payment to borrowers will come in the form of loan modifications.  An additional $5 million will be paid to borrowers victimized by Ocwen’s “letter-dating” problem.

The violations of state and federal law at the heart of this action occurred between January 1, 2012 through June 30, 2015.

The California Department of Business Oversight headed up the investigation and negotiated the settlement.

What Ocwen did

A third party auditor conducting the investigation found that Ocwen

3 days 12 hours ago

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