Craig Phillips, a counselor to Treasury Secretary Steven Mnuchin, said the department is not trying to undermine the role of state regulation of fintechs.
The third interest rate increase of the year could have a significant impact on banks' lending, deposit gathering and even M&A decisions. Here's what to expect.
The US Education Department is assigning the complex task of monitoring the employment and the on-time payments of Public Service Loan Forgiveness aspirants to its worst-performing servicer. USED has contracted with servicing company FedLoan, affiliate of the Pennsylvania Higher Education Assistance Agency (PHEAA), to administer the Public Service Loan Forgiveness program. PHEAA/FedLoan has performed its contract obligations poorly. At the end of 2017 the Department ranked FedLoan 9th out of 9 servicers based on a combination of delinquency rates and customer satisfaction survey results. Based on this poor performance, US Ed will allocate only 3% of new loan servicing to FedLoan. However, all public servants who are applying for Pubic Service Loan Forgiveness are assigned to FedLoan for loan servicing.
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In a recent decision enforcing the discharge injunction under Section 1107(d)(1)(A) of the Bankruptcy Code, the Bankruptcy Court for the Western District of Pennsylvania blocked a creditor from asserting a claim against the debtor after confirmation of the plan. The case of In re Trustees of Conneaut Lake Park, Inc.), No. 14-11277, 2018 Bankr. LEXIS 1447 (JAD) (Bankr. W.D. Pa. May 15, 2018) serves as a harsh object lesson in the need for creditors to file timely proofs of claim to protect their rights with respect to any and all potential claims they may have against the debtor, including contingent and unmatured claims.
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The group is launching an "educational campaign" to praise the role played by House and Senate members in unwinding certain provisions of the Dodd-Frank.
Slower-than-expected lending and "lackluster" trading could be concerns; new CEO David Solomon sets his sights on fixed income.
Promoting diversity must go beyond putting women in the C-suite. It’s about creating products and practices that help support and elevate those who tend to be overlooked.
In re Indiana Hotel Equities, LLC, 586 B.R. 870 (E.D. Mich. 2018) – The debtor leased nonresidential real property under a lease that was terminated before the bankruptcy petition was filed. The lessor filed a motion seeking a bankruptcy court order … Continue reading
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On Jun. 30, 2018. Dollars in thousands.
On Jun. 30, 2018. Dollars in thousands.
Despite a mandate in the Dodd-Frank Act, policymakers have not yet finalized a rule reforming excessive pay on Wall Street.
HSBC will pay $765 million to settle allegations that it sold defective residential mortgage-backed securities in the run-up to the financial crisis, resolving one of the London-based bank's last significant legal challenges with the U.S. government.
The agency's 7(a) program had a small year-over-year decline, with bankers pointing to lender discipline and more borrowers qualifying for conventional loans.
Bank Novo isn't a business lender (lots of firms already do that) or an account provider (it has a bank partner for that). Instead, it provides small businesses tools to track and analyze their banking activities.
Fifth Third has allegedly informed Spike's Tactical that its accounts would not be renewed.
Big banks are expected to report that commercial lending weakened in the third quarter thanks to tax cuts, nonbank competition and seasonal factors. It raises questions about whether the second-quarter rally was an anomaly and if an overall economic slowdown is edging closer.
It's difficult to predict exactly what might be the next threat to the financial system. Here's a roundup of some prime suspects.
Read More from: Nebraska Debt and Bankruptcy Blog