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The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.

Read More from: BankThink

12 hours 13 min ago

Live Oak Bancshares is used to finding ways to make small-business loans, but its new M&A operation was formed after two bankers pitched the plan to Live Oak's management.

Read More from: BankThink

12 hours 13 min ago

A slight decline in core deposits in the second quarter stoked worries that tighter liquidity is around the corner. Bankers are exploring responses beyond the typical CD rate special if third-quarter results show the trend is continuing.

Read More from: BankThink

12 hours 13 min ago

Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.

Read More from: BankThink

12 hours 13 min ago

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more.

Read More from: BankThink

12 hours 13 min ago

The lack of progress by the Trump administration with an examination of hedge fund risks is particularly troubling in light of key Trump backers’ ties to the hedge fund industry.

Read More from: BankThink

12 hours 13 min ago

CEOs for Wells Fargo and Equifax to be roasted:


Wells Fargo and Equifax to be roasted by Senate

According to an article published in the The Hill – October, 2017 the Senate Banking Committee is going to grill the CEOs of Equifax and Wells Fargo with regards to the “massive financial scandals that have dominated headlines and tarnished their names.”

19 hours 18 min ago

As companies are coming to grips with the reality that the pay ratio rules will not be delayed, the SEC yesterday issued interpretative guidance that went a long way toward reassuring companies that they have sufficient flexibility and can exercise their best judgment in determining the median employee and the resulting pay ratio, thereby reducing compliance costs.

This came in the form of a brief Commission guidance and separate Staff interpretations.  In addition, although no mention was made in the press release touting these SEC actions, the Staff also updated and in one case withdrew its prior pay ratio guidance in the Division of Corporation Finance compliance and disclosure interpretations (CDIs) from last year (see Section 128C). Continue Reading

23 hours 32 min ago

B. Grant McNuttA bankruptcy exemption is simply the value of certain property that state or federal law says, a creditor can NOT touch, no matter what.  The two (2) types of Bankruptcy Exemptions are Real Property and Personal Property Exemptions.  Each state enacts its own exemption laws or a state can decide to have the federal exemption laws apply within its borders.  Regardless, every state provides protection for a certain amount of real or personal property owned by its citizens against the claims of creditors.

Real Property (Homestead) Exemption

In Alabama, the Real Property exemption is also known as the Homestead exemption.  The homestead exemption protects a specified amount of the value of the personal residence owned by an individual.  Presently in Alabama, the homestead exemption is $15,000 for each individual who is an owner of the personal residence.  Therefore, married couples who are both on the deed can exempt up to $30,000.

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

23 hours 51 min ago

The Financial Stability Oversight Council meets Friday to discuss removing the label from the now shrunken insurer; Senate Banking Committee to hear Richard Smith on October 4.

Read More from: BankThink

1 day 13 min ago

Make-Whole Upheld Wholly – Solvent Debtors Beware

Traditional thinking in the private placement noteholder community has been the “model form” approach to make-whole amounts created an enforceable liquidated damages claim in the event of voluntary or involuntary acceleration by the note issuer, including upon a bankruptcy filing. That thinking has been tested in the market as a result of a number of recent decisions involving public notes where courts have interpreted the specific indenture language to deny a make-whole claim. A new decision from the Bankruptcy Court for the Southern District of Texas, however, has added comfort to traditional thinking by upholding a “model form” make-whole amount provision even though, in the Court’s words, the make-whole amount was “enormous.”

Summary

Read More from: Basis Points

1 day 11 hours ago

Unlike a visiting sports team, foreign banks can't just blame local referees they perceive as biased for penalties or fines.

Read More from: BankThink

1 day 12 hours ago

The Florida bank started researching the business after Ken LaRoe, its chairman, saw how medical marijuana had helped his wife cope with a severe injury. First Green is now turning a profit on this business a year after adding its first pot-related client.

Read More from: BankThink

1 day 12 hours ago

Data breaches and payment hacks require not only tech measures, but crisis management. Had Equifax gotten out in front of the story, particularly during the slow news period of August, it would have earned kudos and perhaps mitigated some of the public scrutiny.

Read More from: BankThink

1 day 12 hours ago

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

Read More from: BankThink

1 day 12 hours ago

Umpqua Bank is testing a system that would make text-chat, video and voice banking more personable by staffing them with branch workers during their downtime.

Read More from: BankThink

1 day 12 hours ago

Brookline will pay $56 million in cash and stock for First Commons in a deal that will add $324 million in assets.

Read More from: BankThink

1 day 12 hours ago

The San Francisco bank has pulled in 10,000 new households with loan products geared toward young professionals.

Read More from: BankThink

1 day 12 hours ago

In a July order, the FDIC fined a former Oklahoma banker $125,000 and banned him from banking, prompting questions by Rep. Elijah Cummings, D-Md., over whether he is fit to serve as a top adviser at the EPA.

Read More from: BankThink

1 day 12 hours ago

Nominated last week as FHA commissioner, Brian Montgomery would lead an agency with a much better delinquency rate, but face new challenges.

Read More from: BankThink

1 day 12 hours ago

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