News

The Consumer Financial Protection Bureau (CFPB) has suspended its supervisory activities and closed its headquarters following directives from newly appointed Acting Director Russell Vought. The Associated Press reported that in an email to staff on Saturday, February 8, Vought instructed...

Peapack-Gladstone Financial and Peapack Private Bank hired John Soffronoff as enterprise risk and compliance officer responsible for developing and maintaining effective, efficient and scalable risk management and compliance programs commensurate with Peapack Private’s growth and strategy objectives. Soffronoff brings 35...

TriState Capital Bank hired Brad Eidmann, CFA as senior vice president, relationship manager. Eidmann is responsible for establishing lending relationships, new-business development and market growth in the Midwest. “Brad’s extensive experience in building trusted relationships with financial advisors and high-net-worth...

KBRA released a report exploring the mechanics, benefits and challenges of revolving credit facilities (RCF) within the structured credit market. Low-levered RCFs, often executed privately, have become a common tool in the rated structured credit universe. RCFs are a flexible...

Global law firm Squire Patton Boggs has added two experienced Wall Street professionals, Daniel Rudder and Nathan Romano, as senior advisors. “Asset managers have unique needs that require a combination of political, legal, and financial market acumen,” Ed Newberry, global...

Garnet Capital Advisors, a company in the national loan sale market, closed the sale of a credit facility collateralized by a $117 million subprime lease portfolio on behalf of the co-lenders. The sale was prompted by the bankruptcy filing of...

Partnering with Q2, a provider of digital transformation solutions for financial services, Wells Fargo has launched a commercial banking platform designed to improve bankers’ ability to serve commercial clients and increase collaboration and efficiency. “Wells Fargo is committed to delivering...

Weltman, Weinberg & Reis, a full-service creditors’ rights law firm, appointed attorney Cameron Deane as the new office managing attorney (OMA) in the firm’s Philadelphia office. Deane succeeds shareholder Michael Dougherty, who led the Philly office as OMA for 20...

BMO has joined the IBM Quantum Network, gaining access to IBM’s quantum infrastructure. This move enables the bank to develop and deploy quantum-powered solutions across its operations. BMO is the first Canadian bank to access the IBM Quantum Network. Utilization...

Porter Capital, a company in specialty financing solutions, has acquired a factoring firm specializing in the staffing sector. This acquisition integrates the firm’s client portfolio into Porter Capital’s operations. Key staff members have also joined Porter Capital. “This acquisition marks...