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Bank executives at the Most Powerful Women in Banking and Finance gala stressed the importance of male allies in combating gender inequities.

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1 week 1 day ago

The social media giant's CEO will likely encounter pushback from members of the Financial Services Committee about the company's plans to launch its own cryptocurrency.

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1 week 1 day ago

The payments company’s departure from the association leading Facebook’s Libra cryptocurrency plan is the clearest sign that skeptical policymakers are the plan's biggest obstacle.

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1 week 1 day ago

A local bankruptcy attorney stumbled over the most basic part of the  means test. Just this week…  nearly 15 years after the bankruptcy “reform” act of 2005. I thought we were several years past bankruptcy attorneys  clueless about the means test. But apparently not. This fine fellow told a couple that they couldn’t file Chapter […]

The post When The Means Test Is Meaningless appeared first on Bankruptcy Mastery.

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1 week 1 day ago

Even with the FDIC actively encouraging groups to start banks, challenges like raising capital and low interest rates make it tough.

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1 week 1 day ago

Mark Weidemaier & Mitu Gulati

Writing with Ugo Panizza, we have a piece out today on Project Syndicate (Should Creditors Pay the Price for Dubious Bonds?) discussing the collateralized bond issued by Venezuelan state oil company PDVSA (the PDVSA 2020 bond). We have written here previously about the bond as well. In 2016, when PDVSA was near default, it conducted a debt swap in which investors exchanged short-maturity bonds for the longer-maturity PDVSA 2020. To sweeten the deal, the PDVSA 2020 bond was backed by collateral in the form of a 50.1% interest in CITGO Holding, the immediate parent company of U.S. oil refiner CITGO Petroleum.

Read More from: Credit Slips

1 week 1 day ago

The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances.

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1 week 1 day ago

In re Venincasa, 601 B.R. 296 (Bankr. D. Mass 2019) – A law firm sought relief from the automatic stay so that it could release funds held in its IOLTA account to pay itself fees owed by the debtor. The chapter … Continue reading

1 week 1 day ago

Certain topics have dominated in the Democrats’ prior face-offs, but issues like regulatory relief have the potential to highlight crucial differences between the candidates.

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1 week 1 day ago

A strong economy, low-cost deposits and disruption from M&A are presenting opportunities.

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1 week 1 day ago
In the Fifth Circuit's opinion in French v. Linn Energy, LLC (In re Linn Energy, LLC), 2019 U.S. App. Bankr. LEXIS 26595 (5th Cir. 9/3/19), which can be found here, Judge Edith Brown Clement deftly sums up the case in her first sentence:
1 week 2 days ago

The reforms will result in significant changes to the proprietary trading ban first proposed by former Federal Reserve Chairman Paul Volcker and mandated in the Dodd-Frank Act.

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1 week 2 days ago

The two Democrats waded into a court battle over the president's ability to fire a director of the Consumer Financial Protection Bureau.

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1 week 2 days ago

Finally, New Bankruptcy Protection for Disabled Vets


Disable Vet’s Income Not Offered Any Protection in Bankruptcy – until now!

It only took 15 years, but Congress finally decided that disabled vets should have some of the same protection as those on Social Security.

1 week 2 days ago

The state's Democratic-controlled Legislature has enacted laws establishing data privacy rights, giving municipalities the ability to set up public banks, and requiring standardized disclosures on small-business loans, among other issues. Lawmakers elsewhere are taking notice.

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1 week 2 days ago

Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.

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1 week 2 days ago

Delinquencies on indirect auto and home equity loans are trending up, while past-due rates on credit cards are declining, according to a recent report by the American Bankers Association.

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1 week 2 days ago

The service will move customers’ uninvested cash from their Robinhood accounts into existing banks, which are already insured through the Federal Deposit Insurance Corp.

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1 week 2 days ago

Yesterday, Institutional Shareholder Services Inc. (ISS) announced proposed voting policies for 2020 affecting proposals related to three areas: (1) multi-class structures for newly public companies; (2) independent board chair; and (3) share buybacks. ISS states that the proposed changes either clarify an existing policy or largely codify an existing practice.

ISS requests feedback on the proposed rules, and market participants can submit comments until 5:00 PM ET on Friday, October 18, 2019. ISS expects to release its final policies in the first half of November 2019.

Over the summer, ISS administered its annual benchmarking survey to market participants, and two of the three topics covered by the proposed rules (multi-class structures and independent chair) were included in the survey.
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1 week 2 days ago

A thorough process for approving experiments with artificial intelligence, clear philosophical principles and diverse human involvement are some of the ways BofA says it's working to ensure AI does no harm.

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1 week 2 days ago

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