Bankruptcy Blogs

The Drama Over the Windstream Case: Boiled Down

05/18/20

Perhaps the most discussed and hotly debated corporate finance/contracts case of the last year was Windsteam LLC v. Aurelius (SDNY 2019) (for Stephen's wonderful post on this, see here).

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Margin pressure could dog banks into 2022

05/18/20

With rates so low — after steep emergency Federal Reserve cuts in response to the pandemic’s fallout — banks will struggle to generate bread-and-butter interest income and asset-sensitive lenders will face substantial net interest margin contraction this year and next, analysts say.

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The Bancorp freed from 2014 consent order tied to BSA compliance

05/18/20

The order's removal allows the Delaware company to pursue more opportunities in its payments business.

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Fannie, Freddie seek bids from prospective financial advisers

05/18/20

The two mortgage giants said they would begin the process of hiring outside firms to help raise capital that will be needed to exit conservatorship.

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How Wells Fargo's tech chief is managing coronavirus response

05/18/20

Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.

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Fed muni program open for business

05/18/20

Kent Hiteshew, who was recently hired by the Fed to help with the municipal market, said the Municipal Liquidity Facility opened Monday.

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Amex CEO says most employees will work remotely for the year

05/18/20

American Express Chief Executive Steve Squeri said a majority of the company’s employees will work remotely through 2020 as it seeks to slow the spread of the coronavirus.

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Bankruptcy Attorney Guilty of Embezzlement Furloughed From Prison Amid COVID-19 Pandemic

05/18/20

The Bureau of Prisons (BOP) furloughed a former bankruptcy lawyer serving a 63 month sentence following a guilty plea to several bankruptcy crimes.  Peter Ressler, 72, pled guilty in 2017 to wire fraud (18 U.S.C. 1343), embezzlement from a bankruptcy estate (18 U.S.C. 154), and bankruptcy fraud (18 U.S.C. 157). 

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Bankers expect recession to last into 2021

05/18/20

Bracing for a prolonged economic slowdown, many community bankers say they are considering a number of belt-tightening measures, including freezing salaries and delaying investments in technology and product development, according to a survey by Promontory Interfinancial Group.

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N.Y. targets loan website that even confused Mnuchin

05/18/20

A small Texas company that profits from loan applications is using a web address so similar to the Trump administration's portal for small businesses that even Treasury Secretary Steven Mnuchin pitched the wrong one when outlining a pandemic-aid program.

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