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JPMorgan's blockchain effort could lead to solutions that overcome industry skepticism and regulatory concerns and perhaps attract more mainstream retail interest.

Read More from: BankThink

10 hours 20 min ago

Readers weigh the BB&T-SunTrust deal, consider how a new accounting standard could affect Fannie Mae and Freddie Mac, debate the impact of the government shutdown on credit histories and more.

Read More from: BankThink

10 hours 20 min ago

The JPM Coin will be used to expedite payments transfers for its corporate clients; customers of Spain’s largest retail bank will be able to withdraw cash without entering a PIN.

Read More from: BankThink

10 hours 20 min ago

Since the collapse of IndyMac in 2008, the agency has frequently helped to shield depositors over the $250,000 insurance limit from losses. But it’s a policy that was never formalized, and it remains to be seen whether the agency’s new head, Jelena McWilliams, will follow it.

Read More from: BankThink

22 hours 20 min ago

Rep. Blaine Luetkemeyer, R-Mo., told the mortgage giants' chief federal regulator that the Financial Accounting Standards Board’s new model for estimating loan losses could pose risk across the mortgage market.

Read More from: BankThink

22 hours 20 min ago

While proponents contend the model could help reach the underbanked, there remain many arguments against it.

Read More from: BankThink

22 hours 20 min ago

JPM Coin is not meant for consumer payments, but rather is a specific technology for a specific use case that the bank controls. Its value comes not from JPM Coin's appeal, but from JPMorgan's titanic wholesale payments business.

Read More from: BankThink

22 hours 20 min ago

The company has appointed President Gaye Erkan to its board of directors, potentially positioning her to replace longtime CEO James Herbert when he eventually retires.

Read More from: BankThink

22 hours 20 min ago

JPMorgan is prototyping its own digital currency to be used for cross-border payments and, later, other purposes. Will banks find this a palatable alternative to today's most well-known options?

Read More from: BankThink

22 hours 20 min ago

The administration’s choice to regulate the government-sponsored enterprises appeared to distance himself from speculation that the White House may try to overhaul housing finance without legislation.

Read More from: BankThink

22 hours 20 min ago

A group of state regulators has signed off on 14 recommendations, developed by the fintech industry, aimed at streamlining multistate licensing and supervision.

Read More from: BankThink

22 hours 20 min ago

Barclays, Bank of America, TD Bank and other banks have filed multiple blockchain patents over the years, but have yet to publicly announce their plans for the technology.

Read More from: BankThink

22 hours 20 min ago

The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.

Read More from: BankThink

22 hours 20 min ago

They all agree that legislation is needed, but the two approaches being offered are exposing tensions.

Read More from: BankThink

22 hours 20 min ago

Heart-8
Heart-8

Read More from: Credit Slips

22 hours 22 min ago

 Reversing the bankruptcy and district courts, the 5th Circuit court of appeals held that paying a secured creditor in the plan secured by a boat was not grounds to deny confirmation for failing to meet the good faith standard.   Booker v. Johns, Case #18-30526 (5th Circuit 11 February 2019). The claim of $3,939.89 was secured by a riding lawnmower, 3 televisions, and a 1998 Procraft boat, a motor, a trolling motor, and a trailer.  The plan proposed a 4% dividend of $600 to unsecured creditors.  The elderly debtors asserted that they needed the boat for fishing, using the fish to supplement their food supply, as well as for physical and mental health.  The trustee did not oppose confirmation based on the age and condition of the boat, and no objections to confirmation were filed, but the bankruptcy judge denied confirmation nevertheless.   The district court had affirmed the bankruptcy court finding that it was in a better position to determine good faith having had a hearing on the matter and listening to testimony in that regard.

Read More from: Tampa Bankruptcy

1 day 3 hours ago

The U.S. Education Department is doing a lousy job of overseeing the private companies servicing $1.1 TRILLION of federal student loans. That is the gist of the Inspector General's findings in a new report. Among other problems, the IG found that servicers were not telling borrowers about available repayment options, and were miscalculating income-based repayment amounts. When USED found these problems, they did not use contractual remedies to force servicers to improve their performance. To quote the report: "by not holding servicers accountable, [USED] could give its servicers the impression that it is not concerned with servicer noncompliance with Federal loan servicing requirements, including protecting borrowers' rights."

Meanwhile, borrowers with 49,669 loans have applied for Public Service Loan Forgiveness as of 9/30/2018. 206 borrowers with 423 loans have been approved. So, 99% denial rate.

Read More from: Credit Slips

1 day 6 hours ago

heather-ellis-banksIf you have not filed your tax return yet for 2018, you may be in for surprise.  According to the IRS, overall all tax refunds have dropped more than 8 percent during the first week of the tax filing season.  Some of us are bad at saving and use tax refund to do things they normally cannot afford to do during the year.

Tax Cuts and Jobs Act

The new Tax Cuts and Jobs Act provides that employers are to withhold less in taxes throughout the year meaning you have more money in each paycheck but less is withheld and thus less will be coming back in the form of a refund.

The change in withholdings by the employer may have meant you should have changed your elections on your W-4 form.  The W-4 form is where you tell your employer how much you want withheld from your pay for federal income taxes.

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

1 day 7 hours ago

There has always been a tension between protecting the interests of defined benefit pension schemes and insolvency given on the one hand The Pensions Regulator (TPR) seeks to protect the interests of pension scheme members and the Pension Protection Fund and on the other, the insolvency regime seeks to protect the interests of creditors as a whole.

Read More from: eSQUIRE Global Crossings

1 day 8 hours ago

car repossessionIf you are one of the  7 million Americans living in fear that your car will be repossessed, consider how Chapter 13 bankruptcy can save your wheels.

Losing your car can accelerate a torrent of nasty financial consequences.

No car, no way to work.

No work, no income.

So, what can a Chapter 13 bankruptcy do to put you back on the road?

Stop repossession

All chapters of bankruptcy impose an injunction on creditor efforts to collect debts, or enforce liens, automatically when you file.   That automatic stay applies whether or not the creditor knows about it.

Read More from: The Soap Box

1 day 8 hours ago

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