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Brandee McHale will be president of the Citi Foundation and oversee the company's community development, inclusive finance and impact investing teams.

Read More from: BankThink

1 week 10 hours ago

Ed Skyler, the bank's global head of public affairs, says a newly established $150 million fund will make equity investments in firms seen as having a positive impact on society.

Read More from: BankThink

1 week 10 hours ago

The additions come as the Georgia regional looks to maintain momentum in commercial lending.

Read More from: BankThink

1 week 10 hours ago

It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators.

Read More from: BankThink

1 week 12 hours ago

David Hanrahan had been CEO of Capital Bank of New Jersey, which was sold last year to OceanFirst Financial.

Read More from: BankThink

1 week 14 hours ago

Wings Financial Credit Union expects to complete the purchase of Neighborhood National Bank in the third quarter.

Read More from: BankThink

1 week 14 hours ago

Wings Financial Credit Union expects to complete the purchase of Neighborhood National Bank in the third quarter.

Read More from: BankThink

1 week 14 hours ago

The four members of China’s People’s Liberation Army are accused of masterminding the breach that affected more than 140 million people.

Read More from: BankThink

1 week 15 hours ago

The Department of Justice announced charges Monday against four members of China’s People’s Liberation Army for hacking into Equifax Inc., according to Attorney General William Barr.

Read More from: BankThink

1 week 16 hours ago

David Hanrahan had been CEO of Capital Bank of New Jersey, which was sold last year to OceanFirst Financial.

Read More from: BankThink

1 week 16 hours ago

Few people are in a position to influence Jamie Dimon, the chief executive who turned JPMorgan Chase into the biggest U.S. bank. The longtime climate skeptic who turned Exxon Mobil into the biggest U.S. oil company is one of them.

Read More from: BankThink

1 week 17 hours ago

Payday lenders have long used bank partnerships and similar means to circumvent state interest rate caps. Lawmakers should stop such practices now.

Read More from: BankThink

1 week 17 hours ago

insolvent for tax purposesOne of life’s persistent gotcha’s is the tax consequence of having debt forgiven.

Did you compromise a debt, eliminate it upon foreclosure, or have your creditor simply wipe it out without payment. You may have a tax problem.

The tax code treats the forgiveness of debt as income, even though you never saw a penny of cash.

But there is hope (or a loophole, depending on your perspective).

Exceptions to canceled debt as income

Five exceptions will excuse you from paying taxes on canceled debt.

Insolvency is one.

Read More from: The Soap Box

1 week 18 hours ago

The BofA CEO’s $26.5 million salary was about the same as in 2018; investors hoping for quick riches still fall for cryptocurrency-based Ponzi schemes.

Read More from: BankThink

1 week 18 hours ago

In this CFO series post we use the analogy of a CFO as the canary in a coal mine at a distressed company. And, the flight path to consider to get the executive team heading in the right direction.

Canary in a Coal Mine to Chicken Little of Your Company

Do you seem to be the only corporate officer that sees the train wreck unfolding in front of you in slow motion? It does not mean you are wrong by a long shot. You should be aware that denial among your colleagues is a very common reaction to financial distress. And the messenger (i.e., you) is sometimes shot, or at least treated like Chicken Little.

Perhaps the other officers and directors are expecting (or at least hoping for) a turnaround in operations or fortunes. For example, if business improved, then the stock price may soar, and the stock market could bail the company out of its over leveraged woes. But what if that doesn’t happen? How do you get others to join you in finding a solution to the problem? To use our canary in the coal mine analogy, you need others in your company to acknowledge there’s a problem.

Read More from: Gordian Group

1 week 23 hours ago

The agency's lawsuit against the Rhode Island company — the first involving a bank under Director Kathy Kraninger — has challenged assumptions about its approach to enforcement.

Read More from: BankThink

1 week 1 day ago

One of the more fun discussions we have had in my international debt class this term has been the question of whether a clever plaintiff's lawyer might be able to breathe life into defaulted Chinese bonds from the period 1911-1948. (Our thanks to Tracy Alloway's delightful piece in Bloomberg on this matter (here)).

Read More from: Credit Slips

1 week 1 day ago

I shudder even as I write these words, but I’m increasingly fascinated by insurance contracts.  If you are interested in the processes by which standard form contracts evolve – which I am -- then you can’t help but be sucked into this world. Coming from the world of sovereign bonds, the insurance world strikes as bizarre. Among the wonderful authors whose worked has sucked me in are Michelle Boardman (here), Christopher French (here) and Daniel Schwarcz (here).

Read More from: Credit Slips

1 week 3 days ago

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