The Washington Post reports today that many of the incoming Democratic freshman representatives do not want to serve on the House Financial Services Committee, traditionally a plum assignment because it facilitates representatives' ability to fund-raise for their reelection. I'm proud to say that the member-elect who is proudly bucking the trend is our former co-blogger, Katherine Porter, and I can confidently say that her interest in the committee has nothing to do with fund-raising and everything to do with its jurisdiction.
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Robinhood Financial, one of the most valuable private companies in the financial technology space, is rolling out its take on the traditional bank account starting on Thursday.
Augmented devices and automation will push banking services beyond the current mobile phone delivery model into a virtual world — but how, exactly? Bank of America, Wells Fargo and others are trying to find out.
Sen.-elect Kyrsten Sinema, D-Ariz., and Sen. Tina Smith, D-Minn., will join the panel as their caucus loses two other committee members who suffered election defeats.
The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.
The Wilmington, Del., company has identified the 30 branches it plans to close or sell following its acquisition of Beneficial Bancorp in Philadelphia. Most the the closures will take place in Pennsylvania.
Virginia Partners will operate as a separate bank unit after the deal closes.
One Federal Reserve governor’s push to use an untapped capital buffer to counteract potential losses is stoking concerns that such a maneuver could spook financial markets.
Readers sound off on fintechs entering the student loan market, the FDIC’s brokered deposit rules and a heated debate over the new CFPB leader.
Seldom are business bankruptcy cases initiated under Chapters I to VII, inclusive, as well as under Chapters X and XI, where all or substantially all of the assets have not been pledged as collateral for the payment of debts. This pledging of assets tends to create serious questions in connection with the administration of the estates. In cases where the debtor is engaged in business, the receiver or trustee is quite often without free assets with which to carry on operations. There is no money in hand and no means of raising funds necessary to take care of fixed and direct charges essential for the maintenance of the business, without impinging upon the rights of the secured creditors. Debtors who might otherwise be reorganized in the public interest are unable to continue in business long enough to develop alternate means of financing and negotiate accommodations with their creditors.
Charles Seligson, Major Problems for Consideration by the Commission on the Bankruptcy Laws of the United States, 45 Am. Bankr. L.J. 73, 87-88 (1971).
Read More from: Credit Slips
The two agencies seek to end the acrimony with the companies they regulate; the government is trying to make it easier for the wounded Deutsche Bank to merge with rival Commerzbank.
New York legislators are pledging to change laws that have allowed predatory lenders to use the state court system to seize the assets of thousands of small businesses across the country.
Any serious discussion of how best to update the Community Reinvestment Act for the 21st century must focus on strengthening the law, not eliminating it.
Sen. Elizabeth Warren is joining with a fellow Senate Democrat Chris Van Hollen in seeking a Banking Committee investigation of Deutsche Bank's compliance with U.S. safeguards against money laundering.
A consolidation of Germany's fragmented banking market is very much in the cards, following months of speculation.
The outcome of the midterm elections stands to recast debate on topics ranging from regulatory relief to the GSEs and the CFPB. Inside, a look at how the direction of financial services policy could alter under the newly divided Congress.
Morris State will pay $24 million for the parent of Farmers & Merchants Bank.
When Trinity Capital in New Mexico put itself up for sale last summer, it reached out to several local banks to gauge their interest. Then came a surprise offer from a suitor based a thousand miles away.
Read More from: Shenwick & Associates
Many Americans hope for higher pay as they progress through their working years. At what point is higher pay not enough to stay at a job? Abigail Hess of CNBC brings light to a new trend amongst working-age Americans.
Commute seems to be the leading cause for Americans to quit their job. A recent survey from the Bureau of Labor Statistics reveals that 2.3 percent of the workforce quit their job in October.
Read More from: Bonds & Botes, P.C.