Gartner recently predicted that 80% of banks will become irrelevant by 2030. Analyst Peter Redshaw explains the strategies banks need to execute to survive.
Motor vehicle agencies are better suited to vet customers’ identities than banks; Goldman unit is stealing customers from big U.K. banks.
Organizers of Community Bank of the Carolinas in Winston-Salem have raised $18 million. The group has to bring in at least $25 million.
Read More from: Mediatbankry
What amount of debt does it take to make a consumer debt crisis? Student Loan Debt Is a crisis by itself. 1.4 trillion dollars of government student loan debt, plus another 100 billion dollars of private student loan debt. That is difficult to discharge in...
Read More from: Stop Creditor
SSNs are used to verify identity across the financial services industry, but use of the numbers is outdated and leaves consumers vulnerable to data breaches.
BBVA, BNP Paribas and MUFG recently used BBVA's blockchain to reach an agreement within 24 hours — instead of two weeks — to lend a Spanish power company $150 million.
After bringing in a new leader and overhauling its board, Freedom Bank in northern Virginia is looking at digital upgrades and expansion into new markets to stay relevant.
Year to date Jun. 30, 2018. Dollars in thousands.
Sen. Sherrod Brown, a longtime industry critic, said Monday that he’s weighing a possible 2020 bid.
Top executives at Advance America acknowledged that anti-money-laundering concerns at banks were likely the cause of account terminations, even as they publicly blamed a stealth regulatory campaign.
Serial neobank entrepreneur Anthony Thomson is building his third institution, this one in Australia. Here's what he's learned about the industry as he embarks on another run.
Rep. Kyrsten Sinema, D-Ariz., crafted a moderate message and will head to the Senate after having backed legislation providing banks with regulatory relief.
The Supreme Court recently granted certiorari in the case of Mission Product Holdings, Inc. v. Tempnology, LLC (In re Tempnology, LLC), a First Circuit case that deepened the circuit split on whether trademark licensees are protected from a bankrupt debtor’s rejection of the underlying license.
Read More from: Business Finance & Restructuring News - Weil
The famous poem begins, “how do I love thee? let me count the ways”.
But what if it’s not love that we are counting, but loathing?
Let me count the ways I loathe the Motley Fool’s article asking should I file for bankruptcy?
The underlying assumption is that people in debt flock to bankruptcy as an “easy way out”, and damage their credit score for seven years or more.
This is so wrong, where do I start?
No one I’ve met in 38 years as a bankruptcy lawyer arrived in my office on a whim to make their financial life easier with a “get-out-of-jail-free” card.
Read More from: The Soap Box
Sears is supposedly considering trying to raise liquidity through the post-petition sale of intracompany debt. The details of the debt and the proposed transaction aren't clear, but as a general matter, the post-petition sale of intracompany debt (or Treasury stock) seems problematic to me as with any lead into gold transaction. Here's the issue: if the debt is sold, is it still intracompany debt or does it become general unsecured debt?
The viability of Sears' strategy depends on the answer to this question. If it is still intracompany debt post-sale, it's not going to sell for very much; if it is general unsecured debt, it's much more valuable. (This is putting aside the weird arbitrage with the CDS settlement auction market that gets warped by the CDS volume exceeding the reference debt volume.)
Read More from: Credit Slips
Read More from: Bonds & Botes, P.C.
In advance of Thursday’s SEC’s Roundtable on the Proxy Process*, it is worth considering the three-part posts by the Investment Company Institute (ICI) on funds and proxy voting, and CII’s FAQs on shareholder proposal data.
CII explains that fewer than half of proposals submitted are voted on, based on data between 2004 and 2017. The SEC generally allows about 15% to be excluded, and then others are withdrawn. On average, 13% of Russell 3000 companies received a proposal, and the median number was one per year. The largest companies tend to be targeted for proposals, with the S&P 500 companies being the recipient of about 77% of them, since those companies make up a greater portion of any investment portfolio.
Read More from: Davis Polk Briefing: Governance
Regulators typically write rules before applying them. But the CFPB is attempting the reverse.
A Colorado business owner and the second-largest U.S. bank are set to go to court this month over his intellectual property claim that he owns the service mark for an online virtual assistant named Erica. That is the same name the bank uses for its digital assistant.