Bankruptcy Blogs

Fed warns corporate debt risk could soar the longer pandemic lasts

05/15/20

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

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Pad reserves or buy out a rival? BlackRock haul gives PNC options

05/15/20

The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.

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Servicers get flak, Bisignano’s Fiserv play, lenders on PPP hook: Top stories of the week

05/15/20

Complaints to the CFPB hit an all-time high, with mortgage servicers getting much of the fire; Frank Bisignano details his priorities as Fiserv’s new CEO; lenders worry they could be stuck with billions in Paycheck Protection Program loans; and more from this week’s most-read stories.

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Meta Financial to handle refund-advance loans for H&R Block

05/15/20

The agreement comes a day after Axos Financial warned that H&R Block was ending their six-year-old partnership.

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Cheat sheet: 7 measures in House coronavirus bill that matter to banks

05/15/20

Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.

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How businesses are surviving the pandemic

05/15/20

Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.

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Third Circuit Remands For Resentencing Case of Bankruptcy Fraud Defendant - District Court Failed to Explain Sentence

05/15/20

The Third Circuit recently remanded the case of a bankruptcy fraud defendant for re-sentencing on the ground that the district court failed adequately to explain how it applied the statutory sentencing factors in 18 U.S.C. 3553(a) and failed to explain it's ruling on the defendant's objection to the restitution amount.  The unpublished decision in United States v. Jackson, No. 19-1579 (3rd Cir. March 30, 2020) (slip op.) (here).

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Coronavirus scams are proliferating. Smart tech can stop them.

05/15/20

Artificial intelligence and machine learning are some examples of technology available now to help combat money launderers profiting from the pandemic.

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PNC seeks ‘bulletproof’ balance sheet; hard-hit bank stocks rebound

05/15/20

The regional wants to “play offense” with the proceeds of its $17 billion BlackRock stake; shares of some bank shares jumped 6% Thursday but remain well behind the rest of the market.

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Former Uber Engineer Under Indictment Requests Bankruptcy Court Approval to Retain Special Criminal Counsel

05/15/20

Former Uber Technologies engineer Anthony Scott Levandowski has requested court approval in his chapter 11 bankruptcy case to employ a criminal defense firm as special counsel.  Both Google and the Office of the United States Trustee (UST) filed replies.  A hearing on the motion is scheduled for May 21. 

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