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Year to date through Sep. 30, 2019. Dollars in thousands.

Read More from: BankThink

1 week 2 days ago

As we previously discussed, ISS recently released its U.S. Preliminary Compensation Policies FAQ, which provides interested parties an advance view of ISS’ answers to select questions posed to ISS regarding potential changes to its U.S. compensation policies.  Updated compensation-related FAQ documents and a methodological whitepaper—which will include a detailed introduction of ISS’ new Economic Value Added (EVA) metrics—will be available in mid-December.  These changes are effective for meetings held on or after February 1, 2020.  The below summarizes the key changes outlined by the preliminary FAQ.

Changes to the Quantitative Pay-for-Performance Screens for 2020 

ISS applies an initial set of quantitative screens followed by a set of qualitative screens when evaluating say-on-pay proposals. 
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1 week 2 days ago

In a move to aid faster expansion and provide more security and regulatory compliance tools, Klarna Bank in Sweden is strengthening its longtime relationship with Amazon Web Services by making it the preferred cloud provider.

Read More from: BankThink

1 week 2 days ago

Year to date through Sep. 30, 2019. Dollars in thousands.

Read More from: BankThink

1 week 2 days ago

PiNG Bank, which would be based in Jersey City, is being proposed by former bankers at Cross River Bank, Citigroup and GSL Savings Bank.

Read More from: BankThink

1 week 2 days ago

On December 1, 2019, Anna Holdings, Inc., along with nineteen of its affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 19-12551-CSS). The Debtor reports assets valued between $500 million and $1 billion, as well as liabilities between $1 billion and $10 billion. The Debtor presently expects that funds will be available for distribution to unsecured creditors. The cases have been assigned to the Honorable Christopher S. Sontchi.

Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.

1 week 2 days ago

On December 1, 2019, Anna Holdings, Inc., along with nineteen of its affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 19-12551-CSS). The Debtor reports assets valued between $500 million and $1 billion, as well as liabilities between $1 billion and $10 billion. The Debtor presently expects that funds will be available for distribution to unsecured creditors. The cases have been assigned to the Honorable Christopher S. Sontchi.

Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.

1 week 2 days ago

Bankruptcy lawyers regularly evaluate the dischargeability of taxes when deciding when to file a client’s bankruptcy case. At base, the 3 year rule, the 2 year rule, and the 240 day rule routinely drive timing of a bankruptcy. But as we approach the end of the tax year, a client’s current year tax situation becomes […]

The post Taxes & Timing: Calculating Outcomes for Bankruptcy Debtors appeared first on Bankruptcy Mastery.

Read More from: Bankruptcy Mastery

1 week 2 days ago

The company agreed to pay $41 million for Victory Community Bank.

Read More from: BankThink

1 week 2 days ago

The Fed's real-time payments system won't be up and running for years, but consumers and businesses demand faster payments today.

Read More from: BankThink

1 week 2 days ago

The bank is likely to tout asset management at its upcoming investor day; credit union assets have exceeded banks' growth in the past decade.

Read More from: BankThink

1 week 2 days ago

Each month Gordian’s Co-founder and CEO Henry F. Owsley,  picks three articles, posts or current news events that he found interesting and worth sharing with Gordian clients and our growing network . He provides some commentary and context and where applicable how the Gordian Group can help.

Toxic Debt

Many municipal and quasi-municipal entities have long demonstrated poor economic stewardship.  Chicago, Detroit, Stockton, Puerto Rico and Pacific Gas & Electric (PG&E, California’s prominent whipping-boy utility) have merely been the most visible of late.  There may be no new news in this sad state of affairs, nor in the reality that fundamental problems facing America cannot be fixed simply by improved management and the occasional bailout.  But, like Topsy, the crisis continues to grow.

Read More from: Gordian Group

1 week 2 days ago

Once struggling to remain relevant, the Providence, R.I., bank is now an industry standout. Inside the story of its resurgence.

Read More from: BankThink

1 week 3 days ago

Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely.

Read More from: BankThink

1 week 3 days ago

Mortgage Law Group and Consumer First Legal Group to pay $59 Million for Scamming Consumers


$59 million dollar judgment for deliberately scheming to evade the law and cause harm to their clients

1 week 3 days ago

5 Signs an Online Loan is a Debt Trap


Lenders use abusive or unfair practices to trap low income into a never-ending cycle of debt.  Learn to spot the scams:

1 week 3 days ago

 The 7th Circuit decision reduced the punitive damage award from $3 million to $582,000, finding this was the maximum possible award based on the ratio between $82,000 awarded under the state law count for which punitive damages were awarded and the $3 million punitive damage award.  Saccameno v United States Bank Nat'l Ass'n, 2019 U.S. App. LEXIS 35550 (7th Cir., 27 November 2019).  An explanation of the background is useful to see how the servicer's errors resulted in a judgment likely in excess of the amount of the debt, even when reduced.

A typical chapter 13 case resulted in substantial post-discharge litigation when Ocwen Mortgage failed to properly account for payments in the chapter 13 case, and improperly commenced foreclosure.  Ms. Saccameno had filed a chapter 13 plan providing for curing the prepetition default on her mortgage, and continuing to pay the ongoing mortgage payment under the court's supervision.  The bankruptcy court issued a notice of final cure under Fed. R. Bankr. 3002.1, to which Ocwen did not respond.   Immediately after receiving the discharge, Ocwen undertook collection actions against her, apparently based on a mistake by an employee who coded the discharge as a dismissal in their records.  This was compounded by another error in which Ocwen's foreclosure module which inaccurately reflected that Ms. Saccameno had not made any mortgage payments in 2013.

Read More from: Tampa Bankruptcy

1 week 3 days ago
Posted by Kathy Bazoian Phelps

Below is a summary of the activity reported for November 2019. The reported stories reflect at least 12 new Ponzi schemes worldwide; at least 8 guilty pleas and convictions, over 81 years of newly imposed sentences for people involved in Ponzi schemes; and an average age of approximately 48 for the alleged Ponzi schemers. Please feel free to post comments about these or other Ponzi schemes that I may have missed.
   
Mark Alan Blankespoor, 49, was sentenced to 80 months in prison and ordered to pay more than $8.4 million in restitution to more than 100 victims who were defrauded in a $15 million Ponzi scheme. The scheme promised 40% returns in the development of “medically oriented gyms.”
  

Read More from: The Ponzi Blog

1 week 4 days ago

Premier Student Loan Center, SL Account Management, Financial Preparation Services accused of deceiving federal-student-loan borrowers


CFPB GOES AFTER STUDENT LOAN DEBT RELIEF COMPANIES FOR DECEPTIVE PRACTICES

Who is the Consumer Financial Protection Bureau (CFPB) suing?

1 week 4 days ago

Trump Administration Wants to Remove Interest Rate Limits and Sacrifice the Consumer


New rule removes interest rate limits on subprime and payday lenders

1 week 4 days ago

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