Bankruptcy Blogs

Will GSEs' record-high capital requirements scare investors away?

05/25/20

Some observers wonder if proposed regulatory targets for Fannie Mae and Freddie Mac will stoke concerns about low shareholder returns. But others suggest those fears are unfounded.

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Advice of Counsel Defense Negates Fraudulent Intent in False Oath Case

05/25/20

A North Carolina Bankruptcy Court recently upheld the advice of counsel defense to allegations that a debtor knowingly and fraudulently made a false oath in bankruptcy, confirming once again that debtors who reasonably act, after full disclosure to their attorneys, on the advice of counsel do not intend to deceive or cheat creditors.  The case, DFWMM Holdings, LLC v. Richmond (In re Richmond), Case No. 17-11413; Adv Proc. No. 18-02010 (Bankr. M.D. N.C.

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Virtual therapy, yoga, pet parties: Banks' answers to worker stress

05/24/20

Demand has soared for mental health services as bank employees put in long hours, supervise kids while working at home and endure personal crises. Citi, BofA, Fifth Third and others are getting creative to help them decompress during the pandemic.

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Fed's Rosengren sees Main Street loans within next two weeks

05/24/20

Federal Reserve Bank of Boston President Eric Rosengren said he expects companies to begin receiving money through the central bank's long-awaited Main Street Lending Program within two weeks.

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Senate bill would ban garnishment of relief funds by debt collectors

05/24/20

The new legislation directs the Treasury Department to protect electronic payments that Americans receive through the pandemic rescue package.

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SBA issues guidance on PPP loan forgiveness

05/24/20

The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.

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Bankruptcy Court Approves Levandowski's Retention of Special Criminal Counsel in Chapter 11 Case

05/23/20

Updating an earlier post (here) on Anthony Levandowski's request for bankruptcy court approval to retain special criminal counsel in his chapter 11 bankruptcy case, it appears that U.S. Bankruptcy Judge Hannah L. Blumenstiel approved the retention.  According to the docket in In re Anthony Scott Levandowski, Case No.

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Smaller branches, more versatile staff: Citizens Bank's new normal

05/22/20

The Rhode Island company's post-pandemic plan also includes returning some overseas call center functions to the U.S. and bringing its office staff back in phases, says CEO Bruce Van Saun.

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CFPB offers templates for banks, servicers to seek 'no-action' letters

05/22/20

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.

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PPP guidance, Santander's settlement, Wells' virus response: Top stories of the week

05/22/20

The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories.

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