The Finance Act 2020 received Royal Assent today (22 July), confirming the anticipated but opposed intention to restore HMRC as a secondary preferential creditor on insolvency.
From 1 December 2020 HMRC’s claim will sit ahead of floating charge holders and unsecured creditors reducing the monies available for distribution to both when a corporate files for insolvency.
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The online lender has already branched out into facilitating payments and analyzing cash flow for small-business customers. Its new checking account is meant to round out those services.
Her nomination now moves to the full Senate after banking panel confirms her in party-line vote; Scharf adds another BNY Mellon colleague, Mike Santomassimo, to his senior team.
Banking and credit reporting groups say such an agency could politicize the reporting process. Consumer groups say it would offer consumers a necessary alternative.
Judy Shelton, President Trump’s contentious pick for an open seat, cleared a key hurdle by winning the approval of a majority on the Senate Banking Committee.
Commemorating the law's anniversary, the ex-president, joined by former Sen. Chris Dodd and Rep. Barney Frank, said years of tenacious GOP opposition did little to change the post-crisis regulatory regime.
The SEC’s Asset Management Advisory Committee hosted a meeting on July 16, 2020 to discuss the current state of diversity and inclusion (D&I) in the asset management industry. SEC Chairman Jay Clayton, SEC Commissioner Elad Roisman and Director of the SEC’s Division of Investment Management Dalia Blass opened the meeting. Each expressed an interest in understanding why minority- and women-owned firms make up only approximately 1.3% of the total assets under management in the global asset management industry. They asked what efforts the industry is taking to increase this percentage.
Meeting participants included Gilbert Garcia of the asset management firm, Garcia, Hamilton & Associates, Robert Raben of the public policy firm, The Raben Group, Juan Martinez of the Knight Foundation, Brenda Chia of the Association of Asian American Investment Managers, Ron Parker of the National Association of Securities Professionals, Solange Brooks of the New America Alliance and Robert Greene of the National Association of Investment Companies.
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The Dallas bank set aside less in the second quarter for credit losses than analysts expected. Executives cited action in Texas and California to reverse reopenings and said they're still committed to the oil and gas business.
The company said the acquisition should lower its funding costs and shore up its net interest margin.
Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.
Home loans not backed by the federal government are excluded from the protections for borrowers implemented by FHFA .
But as much as one third of US home loans are not backed by the federal government. If that includes you, here’s what the National Consumer Law Center has to say about your options in times of COVID-19.
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The Georgia company warned that outstanding loans could fall and deferrals will likely rise as its home state and Florida grapple with the pandemic.
Mike Santomassimo is at least the sixth ex-colleague of CEO Charlie Scharf to join the bank’s leadership team in the last nine months.
Loans to retailers and hotels are at the highest risk of default, the Salt Lake City company said in its second-quarter earnings presentation.
The Federal Reserve, U.S. Mint and financial industry representatives are strongly considering a public call for Americans to deposit their spare change, among other fixes, to get coins circulating again. Meanwhile, banks of all sizes are getting creative at the local level.
The Financial Stability Oversight Council’s plan to study the market explains very little about which activities or firms, like Fannie Mae and Freddie Mac, will be designated as systemically important. Here's some clearer guidance.
Only O’Dwyer’s ranks PR firms by 19 specialties. The firms on this list have broken out their net fees for accounts classified as entertainment PR.
See complete list here.
See all Bob Gold & Associates awards & highlights here.
The post Bob Gold & Associates Ranks 16 on O’Dwyer’s 2020 Top Entertainment PR Firms appeared first on Bob Gold & Associates.
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Back when I started in the bankruptcy business in 1980, the main category of Chapter 13 bankruptcy cases was folks stopping foreclosure to catch up on missed mortgage payments to save their homes. With the forbearance lots of folks are getting with suspended mortgage payments,...
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The national conversation around systemic racism has compelled large banks to withdraw support from the “disparate impact” proposal. But community banks maintain that the proposed reforms would reduce frivolous claims.