Read More from: Mediatbankry
Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts.
Debt collectors chase folks of all ages, millennials have debt issues, but not just student loan debt? Millennials and Credit Card Debt As if there share of the $1.6 trillion student loan debt were not enough: Research from Clever has found that millennials are greatly...
Read More from: Stop Creditor
Banks shouldn't let the legal and regulatory hurdles deter them, attorney Felix Shipkevich says.
The California Democrat is less recognizable nationally than other progressives elected to the House in 2018. But she may be "the most feared freshman" on the Financial Services Committee.
On October 1, 2019, in In re Clovis Oncology Inc. Derivative Litig., a Delaware Chancery Court denied a motion to dismiss the plaintiffs’ Caremark claim alleging that individual directors should be held financially liable for failing to monitor the development of the biotech firm’s only promising experimental drug and for allowing the firm to publish inflated performance results. Clovis is significant because it marks the second opinion issued by the Delaware courts in recent months that allowed a Caremark claim to withstand a motion to dismiss, even though a Caremark claim is one of the most difficult to plead and prove.
Read More from: Davis Polk Briefing: Governance
Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.
Mark Weidemaier & Mitu Gulati
Along with Ugo Panizza of the Graduate Institute in Geneva, we’ve put up a couple of posts in recent days asking whether Venezuela might have a legal basis for challenging its obligations on the PDVSA 2020 bond (here and here). A large payment of close to a billion dollars is due in a few weeks and there is no money to pay it. Most important, the bond is collateralized by a pledge of a majority stake in CITGO Holding.
The possible basis for the legal defense is that the bonds, and especially the pledge of collateral, were not properly authorized under Article 150 of the Venezuelan constitution. (This matter has also received press attention over the past few days—e.g., here and here).
Read More from: Credit Slips
Turns out, that’s not just a cheer, it’s shorthand for the rule on when you can file bankruptcy again.
And it points out that when you can file again depends on what kind of bankruptcy you filed last time.
Here’s how it works.
You are eligible to file another Chapter 13 case TWO years from filing an earlier Chapter 13. [ This had to be a drafting error since nearly all Chapter 13’s run at least three years. But I’ll take it.]
If you now want to file Chapter 7, you must wait SIX years.
Read More from: The Soap Box
As regulatory pushback against Facebook's Libra cryptocurrency has accelerated, keeping the project together has become a major challenge, with Visa, Mastercard, Visa, eBay and Stripe joining PayPal in leaving the project.
BofA’s do-no-harm approach to AI; looking at what comes next for Fannie and Freddie now that they get to keep their earnings; ruling cuts short debt collectors’ victory lap over CFPB proposal; and more from this week’s most-read stories.
Two new surveys have found that most consumers would prefer to stash their cash in traditional banks. But there's one group of savers who would be very comfortable opening accounts with tech giants if given the opportunity.
The Office of the Comptroller of the Currency found deficiencies related to the bank's holding period for "other real estate owned."
CFPB Director Kathy Kraninger announced the creation of a task force to research and identify potential conflicts in consumer finance law.
As apps like Uber and Lyft gain more traction, the need for new cars — and loans — is expected to diminish.
The Federal Reserve said it will begin buying $60 billion of Treasury bills per month to improve its control over the benchmark interest rate it uses to guide monetary policy after turmoil rocked money markets in September.
Federal regulators should amend a capital buffer requirements for certain derivatives to avoid economic damage.
Large banks will have less onerous capital rules and stress test requirements; the president’s main lender said it has other returns, but not the president’s.
Readers react to whether the next presidential debate will discuss banking, how California's financial policies are bleeding into other blue states, suggested reforms to the Community Reinvestment Act and more.
Majority, which will launch nationwide later this quarter, will use networks of immigrants to sell a mobile phone-based account that features unlimited remittances and international calling services.