USAA's lawsuit accusing Wells of infringing on its remote-deposit patents is new territory: bank-on-bank fights over intellectual property.

BB&T is buying Regions Financial's insurance business. That made the timing right for its retail broker to undergo a name change, the company said.

Despite bipartisan support, the latest congressional effort to enable the legal marijuana industry's access to the banking system still faces plenty of roadblocks.

The company will pay $114 million to gain 10 branches and $482 million in assets.

The 8th Circuit Court of Appeals has turned away an appeal of a $28.1 million dollar judgment awarded to 6 plaintiffs (commonly referred to as the Beatrice Six) for damages imposed by a federal jury for a reckless investigation and manufacturing false evidence orchestrated  by the Gage County Sheriff’s department. The plaintiffs spent two decades in prison for the rape and murder of Helen Wilson, but DNA testing revealed that the murder was actually committed by another individual.

Subprime loans are typically categorized by a borrower’s weak credit score.  While there is no specific definition or specific criteria that establishes a subprime borrower, the most common characteristic is a credit score below 600.  These loans certainly carry a greater risk of default and thus carry a much higher interest rate.  Because of this higher interest rate, banks see them as very attractive.

A Look Inside Subprime Loans

Normally, banks loan money from customer deposits (with a current interest rate of less 1.00%) or from money borrowed from the Federal Reserve.  The Federal Reserve typically loans money to banks at 300 basis points below Wall Street Journal Prime (WSJP).  For example, if WSJP is 4.75% (as it is today), the Federal Reserve would loan money to banks at 1.75%.  Under this typical situation, a bank’s interest rate spread would be at least 3.00% or 300 basis points for a “Prime” loan.  Applying this scenario to subprime lending and it is easy to see why banks of all sizes like making subprime loans.

New MACH Gen, LLC, along with four subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11368).  MACH Gen, headquartered in The Woodlands, Texas, owns and operates three natural gas-fired electricity generating facilities across the United States.  According to the First Day Declaration, MACH Gen enters Chapter 11 having solicited votes on its prepackaged plan of reorganization, which provides for the transfer of one of MACH Gen’s facilities, New Harquahala, to its First Lien Lenders in exchange for a reduction of $150 million of outstanding indebtedness.  The Disclosure Statement can be found here.  MACH Gen seeks to have a combined Disclosure Statement/Confirmation Hearing held on July 19, 2018.  Prime Clerk LLC is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Mary F. Walrath.

Banks are extending maturities and making loans to riskier credits to boost volume; banks cut their muni holdings as tax rates drop.