Bankruptcy Blogs

California sues Devos over PSLF

06/04/20

California's Attorney General has filed a lawsuit against Betsy Devos challenging the failure to discharge student loans under the Public Service Loan Forgiveness program. The suit asserts that US Ed's failure to create a simple and effective application process injures the state of California by discouraging qualified workers from seeking or staying in state jobs. California joins New York and Massachusetts AGs who have filed similar lawsuits.

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CFPB proposes rule to facilitate Libor transition for creditors

06/04/20

The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021.

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Citi sees surge in corporate online account opening amid pandemic

06/04/20

The quarantine and Citi's shift from hardware to software tokens have led to a 300% spike in commercial clients' opening of accounts online as well as increased digital banking use.

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Don’t underestimate the power of branches post-pandemic

06/04/20

Digital banking has ramped up during the coronavirus lockdown but customers will seek somewhere to go as cities reopen. A branch could provide that safe haven.

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Lenders, businesses say confusing rules hampered virus rescue

06/04/20

Representatives of lenders as well as businesses that received pandemic bailout money told an oversight board Wednesday that delayed and confusing instructions from the government hampered the effectiveness of the main rescue program for smaller companies.

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HSBC sides with Beijing over Hong Kong; overdraft fee haul

06/04/20

The bank’s Asia-Pacific chief backs law giving greater mainland control over the territory; the Center for Responsible Lending said big banks took in almost $12 billion in overdraft fees last year, with the bulk of it paid by lower-income customers.

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Man Convicted of Economic Espionage and Bankruptcy Fraud Requests Early Release From Prison

06/03/20

Former businessman, Walter Liew, 62, who was convicted of making false statements in bankruptcy along with several offenses related to trade secrets and economic espionage, has requested that a federal court in Oakland, CA allow him to serve the remainder of his sentence in home confinement.  The case is United States v. Liew, No.

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Senate passes changes to small business PPP loan program

06/03/20

The bill, which passed the House last week on a 471-1 vote, now heads to President Trump’s desk for his signature.

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Should banks stay in the oil business?

06/03/20

Dramatic volatility in the global oil market, plummeting demand and potential regulatory risks are making some banks rethink their energy strategy.

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Punching above its weight: Small N.J. bank uses tech to take on big rivals

06/03/20

David Howard's leadership of the OceanFirst digital strategy and innovation team that has developed a robo adviser, an Alexa skill and other cutting-edge tools earned him recognition as one of American Banker's digital bankers of the year.

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