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The credit union turned to a new engagement strategy for employees after the pandemic forced most of the organization to transition to working from home.

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1 week 1 day ago

Bank of America's Managing Director for Small Business Sharon Miller led the company's involvement in the Paycheck Protection Program, which produced more than 343.000 loans, most in the country.

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1 week 1 day ago

These seven institutions have found innovative ways to engage employees and help staffers through the pandemic.

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1 week 1 day ago

Jane Fraser, who is poised to become the first woman to lead a major U.S. bank, possesses turnaround experience and strong interpersonal skills that make her well suited for mending fences with regulators and investors, according to present and former colleagues.

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1 week 1 day ago

The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.

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1 week 2 days ago

Matthew Raphaelson, Kenneth Zimmerman and Tracy Kidd, all of whom were senior executives in the company’s consumer banking unit, have agreed to pay six-figure fines in connection with Wells Fargo’s unauthorized account scandal.

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1 week 2 days ago

Karl Yoneshige has been with the Honolulu-based institution since 1988, including two decades as CEO.

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1 week 2 days ago

Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice.

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1 week 2 days ago

The OCC is trying to seize jurisdiction by arguing that current supervision is haphazard. But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation.

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1 week 2 days ago

The North Carolina bank deployed Finxact's new technology, which runs on Amazon Web Services, to make Paycheck Protection Program loans and will use it next to offer business savings accounts and CDs.

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1 week 2 days ago

The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas.

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1 week 2 days ago

On September 20, 2020, Garrett Motion Inc.,  a designer, manufacturer and seller of turbocharger, electric boosting and connected vehicle technologies, and several affiliates filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case 20-12211).  The company reported approximately $2.06 billion in assets and $4.17 billion in liabilities, as of June 30.  According to a press release, the debtors have entered into a stalking horse asset purchase agreement with KPS Capital Partners for the potential purchase of its business for $2.1 billion and commenced chapter 11 in order to implement the purchase. A link to Garrett Motion Inc.’s Chapter 11 petition and draft asset purchase agreement can be found here.

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.

Cole Schotz’s nationally renowned Bankruptcy & Corporate Restructuring group practices in Delaware, New Jersey, New York, and Texas.

1 week 2 days ago

On September 20, 2020, Garrett Motion Inc.,  a designer, manufacturer and seller of turbocharger, electric boosting and connected vehicle technologies, and several affiliates filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case 20-12211).  The company reported approximately $2.06 billion in assets and $4.17 billion in liabilities, as of June 30.  According to a press release, the debtors have entered into a stalking horse asset purchase agreement with KPS Capital Partners for the potential purchase of its business for $2.1 billion and commenced chapter 11 in order to implement the purchase. A link to Garrett Motion Inc.’s Chapter 11 petition and draft asset purchase agreement can be found here.

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.

Cole Schotz’s nationally renowned Bankruptcy & Corporate Restructuring group practices in Delaware, New Jersey, New York, and Texas.

1 week 2 days ago

The pandemic has forced the institutions on this year's Best Credit Unions to Work For list to be more flexible with their policies for how and when employees take time off.

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1 week 2 days ago

BuzzFeed News published its “FinCEN Files,” alleging that large banks ignored reports of suspicious activities and helped launder trillions of dollars; low rates will depress earnings even as credit losses don’t look to be as bad as expected.

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1 week 2 days ago

The annual ranking, a collaboration between Credit Union Journal and the Best Companies Group, involves surveying employees and reviewing each institution's workplace policies.

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1 week 2 days ago

The coronavirus has created unprecedented challenges for employers but these credit unions rose to the occasion.

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1 week 2 days ago

Lenders should be subjected to tough reviews of their readiness for economic threats posed by severe weather, required to disclose risks lurking in their portfolios and perhaps forced to set aside extra capital, a government study recently recommended.

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1 week 2 days ago

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