ABI Blog Exchange

Despite consensus that regulators should ease so-called “living will” requirements by some degree, critics charge that a proposal by the Fed and FDIC could undo gains in making large banks easier to resolve.

The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to accept such payments.

Citigroup's return on tangible common equity rose in the first quarter, but stubbornly high expenses and costly technology investments may make it hard for the bank to hit its targets for this year and next.

The investment platform, which is in the early stages of development, will be part of Marcus, the consumer bank Goldman launched in 2016.

Last-minute arguments from the American Bankers Association have put the National Credit Union Administration on the back foot in advance of an appeal hearing more than a year in the works.

Allison Dukes says she will not be joining the combined company because she wants to remain in Atlanta, where she is involved with a number of civic and philanthropic organizations. The merged company will be headquartered in Charlotte, N.C.

Many of our clients frequently ask if disability insurance payments are tax deductible and if that income is taxable when received. Here, the attorneys of Young, Marr, and Associates provide an overview of the general inner workings of disability insurance for tax purposes. Many of our clients ask accounting questions in order to understand the implications of their legal […]

The post Is Disability Insurance Tax Deductible in PA and NJ? / Is Disability Insurance Taxable? appeared first on .

The New York company formed the nationwide group after hiring a team of former Square 1 bankers.

Achaogen, Inc. (NASDAQ: AKAO), a biopharmaceutical company focused on the development and commercialization of innovative antibiotic treatments headquartered in South San Francisco, CA, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 19-10844).  According to the First Day Declaration, Achaogen has filed as a result of an industry-wide pullback from antibiotic research, which has dried up the financing needed by Achaogen to commercialize its primary product, ZEMDRI.  The First Day Declaration further explains that Achaogen has engaged in a prepetition marketing process, which did not result in any acceptable bids, and enters chapter 11 intending to sell substantially all of its assets under section 363 of the Bankruptcy Code.  Kurtzman Carson Consultants is the proposed claims and noticing agent.  The case has been assigned to the Honorable Brendan Linehan Shannon.

Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.