SunTrust let about eight weeks pass before telling the public that data tied to 1.5 million customers had been stolen.
After nearly two years of sputtering commercial loan growth, regional bankers are counting heavily on expanding their portfolios of personal loans and other types of consumer credit.
The issues at Wells Fargo extend beyond the fines; Ally Financial's auto finance chief departs; ICBA chief Cam Fine signs off; and more from this week's most-read stories.
Citibank finds people need people (at least in a branch). Santander launches a new consumer app, which makes money transfers using blockchain technology. JPMorgan Chase can be an intimidating partner for fintech startups. Plus, Elizabeth Warren’s new mission.
Recently, a potential client reached out in distress. Just before Christmas, he lost his job and lucrative income, and wanted to know if he should immediately file for bankruptcy protection. It is not uncommon for a person, who has suffered a major financial setback, to look at bankruptcy as a solution. However, while you may feel it is necessary to start the process quickly, each situation needs to be looked at individually. There is no single answer that works for everyone.
With the specific person mentioned above, he was making good money, but has little in the way of savings and investments. Like many Americans, despite being able to pay all his bills, this individual was virtually living paycheck to paycheck. Worse yet, the layoff came right at the holidays. This potential client now faces using credit cards and cash advances to keep him and his family afloat. It seems only logical to consider bankruptcy. Don’t you agree?
Bankruptcy in Springfield, Ohio can be a bit more demanding and strenuous than in other areas of the county because the state grants fewer exemptions. Regardless of this fact, Ohio’s bankruptcy rate is the eighth-highest in the United States. When filing, you have two options. A Chapter 7 (or Straight) Bankruptcy can absolve you of all debt, while a Chapter 13 (personal reorganization) will mandate monthly payments, for a set period, to the court. In this instance, the court will distribute funds to your creditors, but typically only up to a certain portion. After a defined period of payments, creditors are required to consider the balance paid.
Sometimes a person’s finances get out of control and they soon find themselves in a position where they can no longer afford to pay their debts. Bad things happen to good people all the time. Considering bankruptcy as a means to get relief is a possible alternative. Having a Springfield, Ohio bankruptcy attorney on your side should be your first step.
In December, the first letter was denied for failure to explain the board’s reasoning.
Read More from: Davis Polk Briefing: Governance
The answer is maybe. Please tread cautiously and carefully here and know what you are doing before you decide to record a phone call with someone else.
Our lawyers at Bond and Botes sue debt collectors under the Fair Debt Collection Practices Act (FDCPA). We generally find two types of cases where clients sue for violations of the FDCPA. The first are letter violations when a debt collector sends a letter to one of our clients. By the way, we want to see ALL collection letters and this blog post explains why.
The second type of cases that we see from our clients and for which we sue debt collectors under the FDCPA is for what we call “abuse and harassment” cases. These cases run the gamut and usually involve direct threats made by the debt collector to our clients over the telephone.
Read More from: Bonds & Botes, P.C.
The bank’s latest punishment would settle charges by the CFPB and the OCC; Staley did not act without integrity in trying to unmask a whistleblower.
An $378 million agreement to buy Farmers Capital will allow the West Virginia company to bridge a gap between Louisville, Ky., and Huntington, W.Va.
The news of the data breach cast a shadow over relatively strong first-quarter earnings for the Atlanta bank.
Months after President Trump vowed that Wells Fargo would pay a severe penalty, the CFPB and OCC hit the bank with a $1 billion fine to settle claims it overcharged customers for auto insurance and home loans.
The Providence, R.I., company reported a double-digit increase in quarterly profits despite a year-over-year decline in fee-based revenue.
A new accounting standard will soon go into effect, but banks still lack clarity on how to conform.
The Arkansas company's revenue increased largely due to its 2017 purchase of Stonegate Bank.
Banks struggle to make their websites and apps a destination rather than a utility. Analyst Jacob Jegher offers some ideas for building digital relationships.
The North Carolina company's efforts to contain expenses made up for a marginal increase in revenue.
Major card brands have been competing to surpass each other with rewards and premium card offerings for decades, but American Express still views the premium card world as one it dominates.
The Waterbury, Conn., company also posted a double-digit gain in net interest income thanks to a 7% increase in commercial loan balances and a widening net interest margin.