Bank executives at the Most Powerful Women in Banking and Finance gala stressed the importance of male allies in combating gender inequities.
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.
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.
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 […]
Read More from: Bankruptcy Mastery
Even with the FDIC actively encouraging groups to start banks, challenges like raising capital and low interest rates make it tough.
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
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.
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
Read More from: Bankruptcy-RealEstate-Insights
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.
A strong economy, low-cost deposits and disruption from M&A are presenting opportunities.
Read More from: A Texas Bankruptcy Lawyer's Blog
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.
The two Democrats waded into a court battle over the president's ability to fire a director of the Consumer Financial Protection Bureau.
Read More from: Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney
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.
Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.
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.
The service will move customers’ uninvested cash from their Robinhood accounts into existing banks, which are already insured through the Federal Deposit Insurance Corp.
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.
Read More from: Davis Polk Briefing: Governance
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.