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In a study of 27 global markets, the U.S. ranked near the bottom for consumer use of fintech, raising questions about why Americans appear reluctant to dive in.

Read More from: BankThink

5 days 5 hours ago

Ken Lehman will gain a 40% stake in the Tennessee bank as part of a broader plan to raise $13 million.

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5 days 5 hours ago

Corporate scandals at banks and other firms often suffer from similar management challenges. The financial industry needs to look more closely at these root behaviors to help stem misconduct.

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5 days 5 hours ago

Director Mark Calabria urged lawmakers to grant the agency chartering authority similar to that of bank regulators to boost competition in the mortgage market.

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5 days 5 hours ago

How to Rebuild Credit After Bankruptcy

Many people avoid bankruptcy because they have heard the stories of how bankruptcy stays on your credit report for 7-10 years. They believe that this will ruin any chances of ever having a good credit score. Untrue. In fact when you file bankruptcy and receive your immediate debt relief you begin to rebuild your credit. There are more factors involved in your FICO or credit score than just bankruptcy or repossession . The amount of debt you have plays a huge role in the scoring. When you file bankruptcy you have discharged that debt and are able to start the very next day towards rebuilding your credit.

With responsible credit practices you will have rebuilt your credit profile within a year or two. Paying your mortgage on time, paying your auto loans on time, and even getting a secured credit card wherein the payments are made, again, on time all work to improve your credit score.  So don’t avoid debt relief measures like bankruptcy just because you are worried about what it will do to your credit score. Your credit score is already low because of your debt to income ratio and missed payments. When you file bankruptcy the debt is discharged and you have a fresh history of payments ahead of you that you can make on time, proving yourself to be a worthwhile risk for future credit.

Read More from: AllmandLaw

5 days 5 hours ago

Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.

Read More from: BankThink

5 days 5 hours ago

Considering filing for Chapter 7 or Chapter 13 bankruptcy in Texas? You may have several questions about how the process works and how it will affect your financial future. Many people assume that filing for bankruptcy will cost them everything they own, but there are in fact several protections available to help filers keep more of their property or pay less to unsecured creditors. These protections are contained within Texas exemption laws.

What is a Bankruptcy Exemption?

When an individual files for bankruptcy, everything they own as well as anything to which they are entitled becomes part of an estate. A trustee can sell all estate property to repay creditors in a Chapter 7 case; in a Chapter 13 case, a filer would be obligated to pay into their plan at least what their creditors would have received in a Chapter 7 filing. Thankfully, there are some state bankruptcy exemptions when it comes to taking property out of an estate (these are separate from the list of federal exemptions). If a married couple files for bankruptcy jointly, they can even double their exemption amount for jointly-owned property.

Read More from: AllmandLaw

5 days 5 hours ago

Upcoming Committee Formation Meeting: Monday, June 17, 2019

Case Name: 19-11299 (LSS)

Location: Sheraton Suites 422 Delaware Avenue Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.

Contact Norman L. Pernick or G. David Dean for more information regarding this matter.

5 days 6 hours ago

Upcoming Committee Formation Meeting: Monday, June 17, 2019

Case Name: 19-11299 (LSS)

Location: Sheraton Suites 422 Delaware Avenue Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.

Contact Norman L. Pernick or G. David Dean for more information regarding this matter.

5 days 6 hours ago

Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.

Read More from: BankThink

5 days 8 hours ago

Desmond v. Francis (In re Francis), 597 B.R. 195 (Bankr. D. Mass. 2019) – A chapter 7 trustee commenced an adversary proceeding seeking authority to sell property that the debtor co-owned with his wife as tenants by the entirety free of … Continue reading

5 days 9 hours ago

Recent legislation zeroes in on letting financial institutions serve cannabis businesses in states where the substance is legal, but banks may stay on the sidelines if the federal ban on pot remains in place.

Read More from: BankThink

5 days 19 hours ago

The Memphis, Tenn., company said a common corporate identity for all its units made sense given a recent acquisition and its growth ambitions.

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5 days 21 hours ago

The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday.

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5 days 22 hours ago

The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators.

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5 days 23 hours ago

Gate City Bank announced that Kevin Hanson, who has been at the bank for 36 years, will succeed Steve Swiontek as CEO next month.

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5 days 23 hours ago

The Rhode Island company is counting on disruption from the megamerger to accelerate its Southeast expansion, according to commercial banking chief Don McCree. But BB&T’s Kelly King has a message for him: Not so fast.

Read More from: BankThink

6 days 16 min ago

The agency announced the series in April as an effort to encourage public dialogue on policy issues.

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6 days 1 hour ago

The bipartisan House effort to delay the Current Expected Credit Loss standard comes less than a month after Republican senators introduced a similar bill.

Read More from: BankThink

6 days 2 hours ago

The top Democrat on the Banking Committee suggested the absence of data brokers at a hearing on privacy legislation was "cowardice."

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6 days 2 hours ago

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