News

MetaBank, the parent company of Crestmark, is changing its name to Pathward. The company will make certain changes immediately and fully transition to the name Pathward by the end of this calendar year.

In November 2021, SG Credit Partners acquired Stonegate Capital and announced its entry into asset-based lending with a focus on high-growth consumer products. The result of the combined companies is the ability to deliver a complete range of tailored credit...

Sixth Street, an investment firm with more than $60 billion in assets under management, formed a dedicated structured products business. Michael Dryden, formerly of Credit Suisse, joined Sixth Street as a partner to lead the expansion.

Theater owners, live-event production companies and rental houses will find an extensive selection of gear and equipment — more than 15,000 items in all — as Tiger Group liquidates assets from seven former Pacific Theatres locations.

CIT, a division of First Citizens Bank, launched a new lending and leasing vertical focused on financing fleet golf cars, turf (grounds care) equipment, utility vehicles and similar equipment. Shawn Foy will lead the new vertical.

LSQ, a provider of working capital finance and payments solutions, completed its System and Organizational Controls (SOC) 2 Type 2 third-party audit for its LSQ FastTrack platform.

Monroe Capital closed a $457 million term debt securitization known as Monroe Capital MML CLO XIII. The term financing was Monroe’s eighth new issue CLO completed since 2018 and is secured by a portfolio of middle-market senior secured loans.

CIBC formed a new junior debt lending and advisory team within its U.S. commercial banking group. Charlie Sheridan, who previously served as executive director of the financial sponsors group at J.P. Morgan, will lead the new team.

The ABI applauded the introduction of S. 3823, the Bankruptcy Threshold Adjustment and Technical Corrections Act, which would permanently set the debt limit at $7.5 million for small businesses electing to file for bankruptcy under subchapter V of Chapter 11.

Spending on artificial intelligence in the United States will grow to $120 billion by 2025, representing a compound annual growth rate of 26% during the 2021 to 2025 forecast period, according to International Data Corporation.