Bankruptcy

Elizabeth Warren rolled out a plan Tuesday to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, taking an implicit shot at the Democratic presidential front-runner just before the first nominating contests next month.

Issuers have started adding metal to their credit cards; banks have been “slow” to add diversity in executive ranks, filings suggest.

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

When the former vice president and Massachusetts senator appear together in Houston, they could present two contrasting visions of financial policy within the presidential field.

A Fed-led working group may pressure Wall Street to adopt SOFR; challenger banks with smartphone-based accounts soar.

President Trump is expected to sign legislation soon that would expand the number of farmers who could file under the more lenient Chapter 12. Ag lenders are worried because farm bankruptcies recently rose and the trade war with China could worsen.

Banks that serve U.S. farmers are increasingly restructuring existing loans and boosting the collateral needed for new ones as the numbers of late and missed payments have risen.

During the National Credit Union Collections Alliance conference, experts shared best practices on several topics, including navigating member bankruptcies and positioning auto loans for a downturn.

As more stores either close down or try to ban the use of cash, they aren't necessarily driving cash users to cards and mobile wallets. Instead, they are driving some to an environment that is, counterintuitively, more cash-friendly than ever: e-commerce.

Beach Community Bank, which recently added $100 million in capital, hired veteran banker Carl Chaney as its executive chairman.