Regulators have long warned the credit bureaus about deceptive marketing that causes consumers to sign up unwittingly for paid monitoring services. But the practice has persisted, according to complaint data.
Malaga Financial has no intention of diversifying its portfolio despite heavier competition and potential funding challenges.
Customers of the New Jersey bank will be able to complete applications in minutes and receive funding in as little as one business day.
Read More from: Shenwick & Associates
With the increase in bankruptcy filings, many clients have contacted us regarding
the treatment of their pensions in a chapter 7 bankruptcy filing and whether they should borrow from their pension prior to filing for bankruptcy, if necessary.
Under the law, both Roth and traditional IRA’s are exempt up to $1,283,025 in a chapter 7 bankruptcy filing.
401(k)s, 403(b)s, profit sharing plans, SEP & Defined Benefit Plans are completely exempt in a chapter 7 bankruptcy.
Pension monies are also exempt from the reach of creditors (“spendthrift trust”) so they cannot be liened or levied by creditors. If those monies are withdrawn from a pension plan they are subject to the reach of creditors and therefore if possible a debtor should not borrow from their pension prior to filing for bankruptcy.
Additionally, if a person borrows money from a pension (prior to the age requiring a mandatory withdrawal from the pension plan) they will have to report that money as additional income and pay a 10% excise tax on those monies.
Anyone with questions regarding personal bankruptcy should contact Jim Shenwick at firstname.lastname@example.org
Read More from: Shenwick & Associates
BB&T-SunTrust merger closing could slip into 2020; how “the most feared freshman” is shaking up House Banking panel; consumers are split about trusting Amazon, Google with their savings; and more from this week’s most-read stories.
Count Citizens Financial’s Bruce Van Saun among those who think interest rate cuts could halt by mid-2020. The key, he says, is to focus on delivering services customers are willing to pay fees for and to skillfully reprice deposits until then.
The high court will decide how much latitude a president has to fire the director of an independent agency.
Read More from: A Texas Bankruptcy Lawyer's Blog
The legislation, sponsored by Rep. Cindy Axne of Iowa, aims to hold public companies accountable for moving jobs overseas. It won unanimous support from House Democrats but attracted only two votes from Republicans.
The JPMorgan Chase CEO called Facebook's cryptocurrency project a "neat idea" but added his name to the list of industry leaders and policymakers skeptical about the plan.
The two agencies requested comment on the scorecard regulators use to assess a bank's overall health as some question whether ratings are consistently applied.
The Toronto-based bank has hired 1,200 people across five countries in North and South America to focus on digital features.
Zachary Wasserman will succeed Mac McCullough, who is retiring at the end the year.
The New York City Retirement Systems (NYCRS) continues its effort to foster diversity in the leadership of the companies in which it invests. NYCRS is a collection of pension funds that together have over $200 billion in assets under management, and Comptroller Stringer serves as the investment advisor and custodian/trustee.
Boardroom Accountability Project 3.0
Last week, Comptroller Stringer announced the launch of the latest phase of the NYCRS’ shareholder engagement initiative, Boardroom Accountability Project 3.0. With each phase, the NYCRS designates one or more themes on which to engage with its portfolio companies. Project 3.0’s theme is increasing the accessibility of director and CEO positions for women and persons of color by encouraging companies to adopt a “Rooney Rule” policy, resembling the one employed by the National Football League.
Read More from: Davis Polk Briefing: Governance
Gordon Sondland, the U.S. ambassador to the European Union, is often described as a hotelier from the Pacific Northwest. But he has also had a long and sometimes controversial career in finance.
U.S. Bank wants to disrupt the way consumers pay their bills by offering billers a new platform fit for faster payment rails, new messaging formats and digital assistants.
U.S. Bank has hired payments veteran Peter Gordon to fill a new post as head of emerging payments product and strategy, tapping his years of experience developing real-time payments technology.
Jessica Liou has been named to the American Bankruptcy Institute’s 40 Under 40 program in 2019. The annual award recognizes the insolvency professionals under the age of 40 who are setting the standard for excellence in the field.
Read More from: Business Finance & Restructuring News - Weil