Many might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.
Digital currency plans spark concerns from global financial regulators and U.S. legislators; departures continue as two top dealmakers seem ready to leave.
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In re Fairfield TIC, LLC, 594 B.R. 852 (Bankr. E.D. Va. 2018) – The debtor and its co-owners bought a shopping center as tenants-in-common. After the debtor filed bankruptcy, the noteholder secured by a mortgage on the property and a receiver … Continue reading
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The little-known unit was launched in the wake of efforts by the CFPB and HUD to cut back on fair-lending activities, but the reach of the 10-month-old office is still unclear.
House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.
Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.
A Wisconsin credit union's agreement to acquire a small Chicago bank, the eighth credit union-bank deal this year, led bankers to once again call for policymakers to slow the trend. A credit union trade group complained that banks are trying to stifle competition.
The Federal Arbitration Act, 9 U.S.C. §§ 1-307, represents a federal policy in favor of enforcing arbitration clauses. The Supreme Court has held that courts are generally obligated to enforce arbitration clauses absent a countervailing federal statute. Shearson/Am. Express, Inc. v. McMahon, 482 U.S. 220, 226 (1987). However, this policy inevitably comes into conflict with the Bankruptcy Code, which is grounded on a policy of centralized dispute resolution. Congress has not offered any legislative guidance on how to reconcile these competing policies. As a result, the courts have been left to determine when arbitration clauses are enforceable in bankruptcy. An April 16, 2019 ruling in the U.S. Bankruptcy Court for the Northern District of Texas in the case of In re: Acis Capital Management, L.P. addressed this issue, which regularly figures prominently in complex Chapter 11 bankruptcy cases. In denying the defendant’s motion to compel arbitration, the court held that it would exercise its discretion to decline to order arbitration, on the ground that the enforcement of the arbitration clause would conflict with the purposes of the Bankruptcy Code.
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The bipartisan proposal aims to renew banks' interest in low-income housing tax credits and bring more lower-priced homes to markets that badly need them.
There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.
Deutsche Bank Chief Executive Christian Sewing is planning sweeping changes to his top management, considering replacing finance chief James von Moltke and investment banking head Garth Ritchie, as he purges executives who rose under his predecessor.
The Citigroup mortgage unit is not the first lender to be tripped up by California law requiring the interest payments on escrow impound accounts.
The White House general counsel’s office weighed the legal implications of stripping Powell of his chairmanship and leaving him as a Fed governor, the people said, in what would be an unprecedented move.
On June 5, 2019, the Securities and Exchange Commission (SEC) declined to issue a no-action letter to CorVel Corporation with respect to CorVel’s intention to exclude from its proxy materials a shareholder proposal regarding the company’s omission of the words “sexual orientation” and “gender identity” from its written non-discrimination policy. The proposal had been submitted … Continue reading
The post ESG Investor Walden Scores Win on CorVel Shareholder Proposal Re LGBTQ Rights appeared first on Robins Kaplan Trial Attorneys Blog.
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Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.
Kashuba, who heads design and innovation at Fifth Third Bank, says looks matter even to the common credit card.
Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe.
Lawmakers recently introduced legislation to delay implementation of a new accounting standard for current expected loan losses. But policymakers should seek to preserve the accounting body’s independence.