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Neiman Marcus Emerges From Chapter 11

PYMNTS

He said the company’s new owners include PIMCO, a California-based global investment management firm, Davidson Kempner Capital Management LP, a global institutional alternative investment management firm headquartered in New York City and Sixth Street Partners, the San Francisco global investment firm.

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COVID-19 Scams Target The Business Community

PYMNTS

With a second Paycheck Protection Program (PPP) on the way, small businesses have yet another chance to secure much-needed financial relief. Yet the new bill fails to address the gaps that allowed for fraudulent activity among some businesses that had secured PPP loans in the first round of stimulus, the publication alleges.

Community 219
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Payfone Nabs $24M In Funding; Partners With TransUnion

PYMNTS

Payfone announced that it has secured a $24 million funding round, led by TransUnion. The funding also included participation from existing investors Synchrony, MassMutual Ventures, Massachusetts Mutual Life Insurance Company and Wellington Management.

Fraud 116
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Hearing On BB&T/SunTrust Merger Raises Questions On Size

PYMNTS

Maxine Waters of California said the merger, the largest in the sector since the financial crisis, may be “too big to manage.”. Stephen Lynch of Massachusetts pointed to the fact as many as 740 branches of the banks are within two miles of one another — and he raised concerns about branch closings and job losses.

Community 130
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Main Street SMBs, Digital AP, GoodRx’s IPO Tops This Week’s News

PYMNTS

Mastercard has grown its Digital-First Card Program in North America as demand rises for digitally-driven money management offerings. Massachusetts-based accounts payable (AP) automation technology firm MineralTree Inc. HSBC To Staff: Stay Off Bank’s Social Media Accounts . Time on Tuesday (Sept. 22) at the earliest.

Maine 153
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My Fantasy Banking Team

Jeff For Banks

Prior to BofI, he was an investment banker, management consultant, and attorney to the banking industry. The Wide Receiver/Chief Lending Officer Criteria: I searched for banks with the best yield on loans coupled with excellent asset quality as represented by NPAs/Assets. Security Bank in Midland, Texas lends to business, period.

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State Regulation, Conference of State Bank Supervisors, Financial Services, FinTech, Charles Clark, Washington State Department of Financial Institutions, License, Regulation, Bank of Indonesia, FinTech, Bitcoin, Cryptocurrency, News

PYMNTS

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. Can the states make licensing – of the money movement kind – any easier?