The National Association of Federally-Insured Credit Unions and the Credit Union National Association sent a joint letter to Sen. Orrin Hatch on Wednesday defending the credit union charter and its tax status.
The internet giant, SunTrust, Ally and other backers have invested $16 million in a new funding round for Greenlight Financial Technology, further blurring the lines between banks and tech companies.
Bank consolidation in the city has picked up in recent months despite erratic oil prices and flooding tied to Hurricane Harvey.
The Consumer Financial Protection Bureau is seeking comment on how to engage the public in field hearings and town hall meetings as part of a broad review of all of the bureau's processes.
The Puerto Rico-based bank failed in 2015. The FDIC, its receiver, is seeking unspecified economic and punitive damages from 16 lenders, including Bank of America, Barclays and Credit Suisse.
As they cement major partnerships, launch overseas operations and court banks and other institutional investors, top cryptocurrency exchanges now see regulatory approval as a competitive advantage.
The Treasury Department struck a middle ground in recommendations for Dodd-Frank Act wind-down powers, resisting calls to repeal those powers but still addressing concerns that they are too generous to large firms.
A community group has secured a grant from the W.K. Kellogg Foundation to probe banks’ small-business lending practices. It follows a 2017 pilot study in which the group found that white shoppers posing as business owners were three times more likely to be invited for follow-up appointments than their black counterparts and twice as likely to be offered help in completing loan applications.
Deutsche Bank on Wednesday became the first large bank to announce a wholesale relocation of client business out of the U.K., but B of A has extended the lease on its London headquarters, and Northern Trust is searching for a new lease in the city.
The prepaid card issuer has bounced back from the hit it took after discontinuing a product that proved to be popular with fraudsters.
The Chicago bank is denying a report that its CEO, Steve Calk, made $16 million in mortgage loans to former Trump campaign chairman Paul Manafort in exchange for a job in the White House.
If so, what would it look like? And what is cognitive corporate banking?
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A recent article on bankrate.com outlined 15 signs of serious debt trouble. If you recognize these signs with your financial struggles, it might be a good idea to meet with a bankruptcy attorney to discuss your financial options.
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At least, not until you’ve assessed all the other demands for oil.
That’s a quaint way of saying that your decisions about which of your creditors to pay when you can’t pay everyone should not be based on who is on the phone.
The creditors who call you are the ones with few other tools in their toolbox to collect the money you owe.
They hope to get you to write them a check for money they can’t easily get any other way.
Just because they squeak, doesn’t mean they should get paid first.
The debt collector on the phone certainly feels like he has invaded your sanctuary. Life is challenging enough without your money problems interrupting home life.
If you have debts you can’t pay, it’s a critical question.
The man sitting across the desk from me owed a fistfull of taxes. He proposed to transfer his interest in the family home to save the house from the tax lien which was filed against him.
He thought that the lien on the house would vanish once the home wasn’t in his name any longer.
And that sort of follows from the idea that the lien is “on” the person.
But that’s not how liens work.
Liens are creatures of law: whether you think about them as barnacles, leaches, or ticks, the idea is the same.
They attach to assets and follow the asset wherever it goes.
Liens are interests in the property owned by a person against whom a lien has been filed.
The lienholder has rights in the property. Those rights are different from the rights of the legal owner, but they are powerful still.
Chances are your first reaction is to put the title to your biggest assets in just your name.
Just because the deed to the house now reads Jane Doe instead of John Doe and Jane Doe it’s easy to think the house is Jane’s separate property and the operation of California community property law has been beaten back.
Why does it matter whether the house or a business is community property? Because the character of the property determines which creditors of the married couple can levy on the asset to pay a debt.
Community property is available to creditors of either spouse, for debts incurred during their marriage and before marriage.
Registered domestic partners are also presumed to have community property and are subject to the benefits and burdens of community property.