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Wells Fargo CEO tackles cost-cutting, job cuts and rumors he’ll be replaced; banks put up millions to keep uber-rich as depositors.

Read More from: BankThink

12 hours 1 sec ago

The country is lagging behind others when it comes to ensure that a consumer’s financial data is available to third parties, and regulators need to step up.

Read More from: BankThink

12 hours 1 sec ago

In response to a news report, Betsy Duke said that the board has not reached out to potential CEO candidates.

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1 day 5 sec ago

Every month, from January to April of this year, there were roughly 3.2 billion attacks perpetrated by malicious code that infiltrated business' networks. Representatives of smaller financial institutions disputed the notion that they are one of the weak links in the chain.

Read More from: BankThink

1 day 5 sec ago

Fiserv Lending Solutions rebrand to Sagent Lending Technologies reflects the company's focus on a more efficient process for mortgage and consumer lenders.

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1 day 5 sec ago

The company said the move should address investor concerns about potential margin compression, slower loan growth and an economic slowdown.

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1 day 5 sec ago

Seven other banks passed on a chance to bid on FCB Financial, perhaps showing the small pool of large buyers eager to make a big commitment to the Sunshine State.

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1 day 5 sec ago

Following an increase in the CRE appraisal threshold for community bankers earlier this year, the National Credit Union Administration has proposed an even bigger shift for CUs.

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1 day 5 sec ago

Whereas most regulators appointed in the Trump administration are focused on rolling back the post-crisis framework, Nellie Liang helped create it.

Read More from: BankThink

1 day 5 sec ago

The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020.

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1 day 5 sec ago

When the Birmingham, Ala., bank was rethinking its branch strategy, it had to reconsider the role of its tellers. Ultimately, it decided to transition those workers to a more general banker role that emphasizes meaningful conversations with customers and continuous career progression.

Read More from: BankThink

1 day 5 sec ago

The acquisitive company plans to buy Blue Hills Bancorp to boost its footprint in eastern Massachusetts.

Read More from: BankThink

1 day 5 sec ago

Readers react to the Office of the Comptroller of the Currency's fintech charter, respond to another bank outage, opine on the impact of regulation and more.

Read More from: BankThink

1 day 5 sec ago

 

The Fifth Circuit Court of Appeals reminded the plaintiff that standing is “determined as of the commencement of the suit” and post filing claims purchases will not suffice to establish standing. Here, the plaintiff, [also the debtor’s owner], sought to appeal appointment of special counsel. The Bankruptcy Court found that the plaintiff lacked standing to object because he was not a creditor and did not have a stake in the estate and then approved the Trustee’s application to employ SBPC over the improper objection. The plaintiff filed an appeal and then purchased a proof claim in order to obtain creditor status. The Fifth Circuit agreed with the Bankruptcy Court and noted that “[o]nly those directly, adversely and financially impacted by a bankruptcy order may appeal it.” Standing is “determined as of the commencement of the suit and a plaintiff cannot belatedly claim creditor status and establish standing retroactively.”

1 day 9 hours ago

 

The Ninth Circuit Court of Appeals recently held that a secured creditor’s purchase of general unsecured claims to block confirmation of a Chapter 11 plan did not in itself constitute bad faith. In In re Fagerdala USA, the debtor owned real property on which Pacific Western Bank held the senior secured claim. The debtor’s plan of reorganization sought to impair Pacific Western’s claim by using an interest rate lower than the penalty interest rate for its loan, and modifying the length of the term and other loan provisions. Under section 1129(a)(10) of the Bankruptcy Code, in order to approve a plan over the objections of impaired creditors, a debtor is required to obtain the consent of at least one impaired class. In order to ensure that this debtor would not receive such consent, Pacific Western attempted to strategically buy up a sufficient amount of general unsecured claims—the only other impaired class—to block the plan. While Pacific Western did not seek to buy every general unsecured claim, it was able to purchase “one-half in number” of the general unsecured class, and was thus able to block the approval of the plan.

1 day 9 hours ago

heather-ellis-banksAmericans are still looking for deals even 10 years after the financial crisis.  The CNBC article written by Lauren Thomas and Lauren Hirsch highlights how lifestyles have changed since the 2008 recession.

Retail and the Recession

At the time the recession hit coincided with when many Millennials entered the workforce.  The unemployment rate reached a high of 9.5% at once point, jobs were hard to come by even as a college grad, and student loan payments came due.  Many Millennials had to look for deals and discounts and do without a lot of non-necessities.

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

1 day 11 hours ago

multi faceted issueFacets on a gem bend light and change how we see things.

The same thing happens when bankruptcy law encounters a small business owner and the business itself.

Seen from one angle of the law, the business is a valuable asset.

Seen from another, it is nothing more than a job for the owner, having no real value without the owner.

It depends on where you stand and where the light hits.

Is incorporating dangerous?

The question comes up when individuals have a small business that provides a living, but the owners have accumulated crushing debt.

Read More from: The Soap Box

1 day 11 hours ago

stop debt collectors

You can make debt collectors stop.

You have a solid legal right to be free from harassing debt collection.  All it takes is a letter to the collector.

We’ll show you how to write that letter and exercise your right.

If you live in California, that letter will not only stop professional debt collectors, it will stop the  creditor itself from nearly all contact about the debt.

Understand, this right doesn’t make the debt go away.  It doesn’t keep the creditor from suing you.  It keeps them from using all their weapons to get you to pay without suing you.

Suing you is time consuming and expensive to the collector.  They want to harass, shame, or frighten you until you pay just to get them off the phone.

Read More from: The Soap Box

1 day 11 hours ago

Bruce Cahan, a lecturer at Stanford University who teaches ethics, explains the link between ethical principles and profitability for financial services firms.

Read More from: BankThink

1 day 12 hours ago

The Danish bank updates amount laundered; Goldman near deal for its Simon app.

Read More from: BankThink

1 day 12 hours ago

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