He will take over as CEO from Carlos Torres Vila, who becomes chairman at year-end. Still unknown: who will run the company's U.S. bank once Genç moves up.
Just as a recent law softened Dodd-Frank resolution plan requirements, the head of the Federal Deposit Insurance Corp. announced an effort to ease such rules for depository institutions.
The Bridgeport, Conn., company is developing a specialty in banking technology businesses. Like so many other small regionals with ambitious growth plans, it faces a tricky balancing act: how to take creative risks without getting in over its head.
The latest personal financial management tools provide a more passive approach for customers that analyzes patterns and suggest ways to fix issues.
A meticulous approach to expansion, along with an ability to produce solid results while based in a slow-growth state, explains why Hageboeck is a Best in Banking honoree.
Read More from: Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney
Read More from: Shenwick & Associates
Navient is a publicly-traded student loan servicer familiar to many Americans with student loan debt. The company formally split off from Sallie Mae and contracts with the U.S. Department of Education to service and collect upon student loan accounts. Now, the company is being criticized in an audit conducted by the U.S. Department of Education.
The audit was conducted in 2017 but is just now being released to the public. Navient is accused in a series of lawsuits with steering borrowers into higher cost repayment plans in order to boost its profits. In particular, Navient is criticized over the use of student loan forbearance. Forbearance allows student loan borrowers to defer payments for a period of time.
Read More from: Bonds & Botes, P.C.
The company will pay $64 million in cash and stock for First Beeville Financial.
Atlanta Fed chief says consumers don't know the risks of using nonbank payments providers, like Apple Pay; equity derivatives desks will reap rewards of volatility.
Date, now a venture capitalist, worked with the lending software company's CEO, Dan O'Malley, at Capital One in the 2000s.
Seth Frotman oversaw the $1.5 trillion student loan market for the Trump administration. Now he's starting his own watchdog group to do what he says the government won't, and he's poaching former colleagues to do it.
Newly unsealed court documents make clear that regulators forced banks to terminate relationships with payday lenders and other lawful businesses, setting a dangerous precedent.
Royal Bank of Canada posted its highest domestic net interest margin in five years, pushing quarterly earnings past analysts' estimates and boosting annual profit from its Canadian banking division to a record.
The card is being launched in partnership with U.S. Bancorp, which will handle the underwriting and provide the credit.
In a world where most financial matters can be handled with a few taps on an app, debt collection appears stuck in the last century.
As part of a continued effort in Europe to reform insolvency legislation, the British government issued a paper in March 2018 as a response to a draft directive published by the European Commission in November 2016. The Response proposed highly significant reforms to the current insolvency legislation which–interestingly, in this era of Brexit–if adopted, would bring the British insolvency policies closer in line with the current policies of the European Union. Learn more about the proposed reform from this recent restructuring alert, which breaks down the new proposed restructuring plan, analyzes a possible implementation timeline and compares the potential legislation to the current policies in place in the European Union.
Read More from: Orrick, Herrington & Sutcliffe LLP
We’ll help you do your own bankruptcy, promises the ad.
And for a few dollars more, we’ll sell you the secret to keep your bankruptcy off your credit record.
That pitch plays neatly into the obsession that we have about our credit reports. Even when your financial world is upside down.
But this pitch has it all backward.
Why would you want to omit your bankruptcy discharge from your credit and leave all the debt that necessitated the BR filing showing as if enforceable?
Yes, bankruptcy is a black mark on your credit record. But so is old, delinquent debt that you can’t pay. Seeing old debt on your report makes it look like you could still be sued on that debt.
Read More from: The Soap Box
What does a Chapter 13 bankruptcy get you if it doesn’t get you a discharge?
It’s complicated. Powerful, but complicated.
Let’s see how all the parts interact when your Chapter 13 is filed before you’re eligible for a discharge.
The bankruptcy code doesn’t limit when you can file bankruptcy; it limits when you can get a discharge in bankruptcy. It imposes various interval between discharges in bankruptcy, depending on what kind of a case you filed first.
Read More from: The Soap Box
Read More from: In The (Red) Business Bankruptcy Blog