The Pennsylvania senator, who will chair the Banking Committee if Republicans hold their majority, agreed to modify an amendment restricting the Federal Reserve’s emergency powers that Democrats had criticized as too extreme.
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Reports indicate distressed owners would rather surrender their hotel or retail properties instead of negotiate workouts on delinquent loans as the pandemic spread carries on.
January 4
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Bausch, formerly Valeant Pharmaceuticals, has paid down more than $24 billion of the $32 billion in leverage it owed five years ago from a debt-driven acquisition spree — which ended after a drug-pricing scandal.
January 4
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With limited plan removals due to the holidays, mortgages in coronavirus-related forbearance rose by 15,000, according to Black Knight.
January 4
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The Georgia runoffs and resulting balance of power in Congress will help determine which bills on bankers’ wish list gain traction. But regardless, existing coronavirus relief such as the Paycheck Protection Program and a push for more economic aid will remain top of mind for lawmakers and the industry.
January 4
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The agency cited improving used-car prices that have elevated resale values of off-lease vehicles that drivers are turning back into dealerships.
December 31
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The reference pools of mortgages supporting the credit-risk transfer notes sold by Fannie Mae and Freddie Mac were 'generally lower' in delinquencies per newly issued monthly reports, says DBRS Morningstar.
December 31
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The regulator's order moves the San Francisco-based company one step closer to becoming the first online lender to own a bank.
December 31
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The agency said Omni Financial in Las Vegas illegally required service members to designate a portion of their paychecks to repay loans, depriving of them of other payment options.
December 30
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Several consumer advocacy organizations have urged the Office of the Comptroller of the Currency to deny the online lender's application for a national bank charter, citing concerns about its lending and debt-collection practices.
December 30
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The former property-assessed clean energy program administrator plans to sell off assets via Chapter 11, but PACE securitizations through its bankruptcy-remote trusts will continue to be backed by homeowner ad valorem assessments.
December 29
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The agency's request for input will shape how mortgages underwritten by Fannie Mae and Freddie Mac handle appraisals and curb risk.
December 29
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Treasury Secretary Steven Mnuchin approved the extension of the Main Street Lending Program, which offers loans to midsize companies affected by the pandemic, to Jan. 8.
December 29
