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Liquid Holdings files for Chapter 11 bankruptcy; BBCN former director calls bank board 'dysfunctional'

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Liquid Holdings files for Chapter 11 bankruptcy; BBCN former director calls bank board 'dysfunctional'

Fintech firms have been busy. and Liquid PrimeHoldings, for example, have voluntarily filed for Chapter 11 bankruptcy.

Moven has teamedup with Payoff and CommonBond, Bank Innovation reports, and it's a strategythat American Banker warns could makesuch firms "more formidablechallengers to banks."

— so recently from and already impressing investors (as Bloomberg News points out here)— could buy back up to$2 billion shares under a new repurchase plan.

Speaking of PayPal,its P2P service, Venmo Inc.,can now be used even within third-party mobileapps, TechCrunch reports.

Meanwhile, specialty lender Comerica Leasing has suedBombardier for at least $10.1million, claiming the Canadian aircraft maker failed to make payments, Reutersreports.

Banks came out with hires-and-fires news, such as WSFS Financial Corp.'s renewed CFO search and SouthState Corp.'s appointment of ReneeBrooks as chief risk officer.

is closing mortgagebanking customer assistance operations in Wisconsin, and it'll mean 135job cuts, effective March 26, the MilwaukeeBusiness Journal reports.

President and COOJulia Gouw retires March31. The California-based company also came out with its earnings guidance for theyear: full-year 2016 EPS of $2.80to $2.84, up from 2015's $2.66.

Over at , director C.K. Hongresigned, criticizing the company's pending merger with Wilshire Bancorp Inc. and the "dysfunctional board environment," the actions of whichwere "imbued with self-interest and [were] counter to advancing shareholderinterest."

Among boutique investment banks, 's is transferring the titleof CEO to George Boutros.

And the New York Post anticipates a humiliatingFriday for the Federal Reserve, withthe Commerce Department releasing its advanced fourth-quarter 2015 GDP estimateand possibly proving that the central bank was wrong to hike rates in December.

But "pitythe Federal Reserve," writes Mohamed El-Erian in BloombergView. He argues it"remains hostage to changing financial markets and global economic conditions"and then subjected to "much complainingabout their policy conviction and credibility."

In other parts of the world

soldoff the shares it owned in Bankof America Corp. during the fourth quarter of 2015, The Nikkei reports.

The day ahead

Early morningfutures indicators pointed to a mixed opening for the U.S. market.

In Asia, the HangSeng was up 0.73% to 19,192.25. The Nikkei 225 fell 0.71% to 17,041.45.

In Europe as ofmidday, the FTSE 100 fell 0.89% to 5,936.76, and the Euronext 100 was down 0.89%to 856.02.

On the macro front

The durablegoods orders, the jobless claims report, the pending home sales index, the EIA naturalgas report, the Fed balance sheet and the Money Supply report are due out today.

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