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Cambridge Bancorp in Massachusetts is looking to prove to entrepreneurs that it is in the business for the long haul.

Read More from: BankThink

1 week 2 days ago

Quicken Loans, Citizens Bank and Better Mortgage are refinancing loans using Airbnb income as part of a pilot project with Fannie Mae.

Read More from: BankThink

1 week 2 days ago

A three-judge panel for the D.C. Circuit Court of Appeals has sided with the LSTA in its lawsuit seeking to reverse rules requiring CLO managers to hold "skin in the game" under Dodd-Frank.

Read More from: BankThink

1 week 2 days ago

Darryl White sees an opportunity for Bank of Montreal to take more market share in the United States, and he’s betting on investments in mortgage lending, commercial banking and capital markets to get there.

Read More from: BankThink

1 week 2 days ago

Fallout from the Fed's blow to Wells Fargo; a call for calm in the rush to regulate cryptocurrencies; point-of-sale lending has its day; and more.

Read More from: BankThink

1 week 2 days ago

Leadership of the CFPB was thrown into turmoil Friday with reports that President Trump is considering naming acting Director Mick Mulvaney to replace White House Chief of Staff John Kelly.

Read More from: BankThink

1 week 2 days ago

Fintech firms and industry watchers hope the pilot program will help fix a balkanized chartering system, but getting enough states on board to expand the plan's reach could be a challenge.

Read More from: BankThink

1 week 2 days ago

Carbondale Glen Lot L-2, LLC, along with thirteen affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware.  All of the filers are affiliates of the Woodbridge Group of Companies, LLC, whose cases are currently being jointly administered under Lead Case No. 17-12560.  According to the Corporate Organizational Chart attached to the Petition, all of the new debtors are “non-collateral filers.”  Cole Schotz previously provided coverage of Woodbridge’s filing here.  The Garden City Group is the claims and noticing agent.  The cases are assigned to the Honorable Kevin J. Carey.

Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter.  Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.

1 week 2 days ago

Carbondale Glen Lot L-2, LLC, along with thirteen affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware.  All of the filers are affiliates of the Woodbridge Group of Companies, LLC, whose cases are currently being jointly administered under Lead Case No. 17-12560.  According to the Corporate Organizational Chart attached to the Petition, all of the new debtors are “non-collateral filers.”  Cole Schotz previously provided coverage of Woodbridge’s filing here.  The Garden City Group is the claims and noticing agent.  The cases are assigned to the Honorable Kevin J. Carey.

Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter.  Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.

1 week 2 days ago

Twelve senators have just written EWKHto Education Secretary Betsy DeVos questioning why the Education Department continues to award lucrative contracts to debt collection firms, and criticizing the seriously misaligned incentives embedded in those contracts.

Read More from: Credit Slips

1 week 2 days ago

Gail DonaldsonHaving lived in my adopted hometown for over twenty years now, I have made many friends through the years who have come to Maxwell Air Force Base for Officer Training School (OTS) and the School of Advanced Air and Space Studies (SAASS) from all over the world.  When the news came that the U.S. Air Force decided to locate the new F-35A fighter jet program, I was excited for the possibilities for the future of Montgomery.

Any time there is a new industry to a community, there will be opportunities for an economic impact.  The 187th Fighter Wing will receive the latest fighter jet to replace its F-16 jets.  The Air Force expects the F-35A’s to begin arriving in early 2023.  The decision came after a two-year recruiting process and could mean $3 billion in investment and new jobs in the coming years for the Montgomery area.  Once the jets arrive, its expected the economic impact to be more than $100 million yearly.

“Selecting Truax Field and Dannelly Field will increase Air National Guard F-35A units providing 5th Generation airpower around the world,” said Secretary of the Air Force Heather Wilson. “As F-35As arrive at these locations, we will use the existing aircraft at these fields to replace the aging F-16s at other Air National Guard units.”

Read More from: Bonds & Botes, P.C.

1 week 2 days ago

chapter 13 success
When he started the Chapter 13 trek, he owed $370,000 in personal loans and credit cards.

As he completes his plan, he will have settled that debt for three cents on the dollar.

No tax is due on the forgiven debt and no listed creditor can legally come back to try to collect the difference.

And that’s why I love Chapter 13 bankruptcy.

Read More from: The Soap Box

1 week 2 days ago

Upcoming Committee Formation Meeting:  Thursday, February 15, 2018 10:00 AM

Case Name: 18-10248 (MFW)

Location: The Double Tree Hotel, 700 King Street, Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief here.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

1 week 2 days ago

Upcoming Committee Formation Meeting:  Thursday, February 15, 2018 10:00 AM

Case Name: 18-10248 (MFW)

Location: The Double Tree Hotel, 700 King Street, Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief here.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

1 week 2 days ago

Readers react to the Consumer Financial Protection Bureau pulling back from investigating the Equifax breach, opine on the Federal Reserve's tough enforcement against Wells Fargo, weigh in on gender pay issues and more.

Read More from: BankThink

1 week 2 days ago

Analysts are wondering what the big Japanese technology fund plans to do with its proposed stake in Swiss Re; the insurer takes a onetime $6.7 billion loss due to tax reform.

Read More from: BankThink

1 week 2 days ago

Rep. Emanuel Cleaver, D-Mo., sent a letter to two virtual currency trade associations on Thursday asking them what their members are doing to prevent hate groups from using cryptocurrencies to finance themselves.

Read More from: BankThink

1 week 3 days ago

Additional consolidation would not strengthen the industry, but would instead leave consumers with less choice and reduced access to financial services.

Read More from: BankThink

1 week 3 days ago

Nine lenders have been warned by the U.S. that they will be kicked out of a top mortgage program within months unless they find ways to stop costly rapid refinances of veterans' loans.

Read More from: BankThink

1 week 3 days ago

Delaying the rule's effective date or refocusing it on disclosure requirements are among the options for the Consumer Financial Protection Bureau's acting director to ease its impact on the industry.

Read More from: BankThink

1 week 3 days ago

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