Bankruptcy Blogs

CFPB expands relief for banks and credit unions from remittance rules

05/11/20

The agency will allow institutions providing 500 or fewer transfers a year to estimate costs in consumer disclosures rather than quote exact figures.

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Banks' back-to-the-office playbook

05/11/20

Financial institutions are looking for a way to return some employees to their workplaces while prioritizing safety. The answer may involve contact tracing technology and the automation of a wide range of activities.

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Lenders worry they could be stuck with billions in PPP loans

05/11/20

Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.

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The case for industrywide use of SOFR

05/11/20

The group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.

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Coronavirus stress tests strength of women’s network

05/11/20

In a still male-dominated industry, does the network help attract and keep more women at the firm? CEO Shirl Penney says yes and has the results to prove it.

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Why Samsung is following Apple, Google into consumer banking

05/11/20

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

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SBA comes in for more criticism; nonbanks' mortgage share raises concerns

05/11/20

The agency’s IG says the PPP failed to prioritize borrowers in underserved and rural markets; the firms, which lack deposits to cushion them, are vulnerable to borrowers defaulting on their loans.

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CFPB gets earful from consumers about mortgage servicers

05/10/20

Complaints to the bureau hit an all-time high in April. More than one in five said servicers wouldn't grant deferrals, forced borrowers into forbearance or violated other requirements of the coronvavirus relief law.

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How Are So Many EM Sovereigns Issuing New Debt?

05/10/20

Mitu Gulati and Mark Weidemaier

We have been working on building a dataset of sovereign bonds and their contract terms. Given the economic fallout of the Covid-19 pandemic--close to 100 countries have approached the IMF for assistance--we would not have been surprised if few low- to mid-income countries had issued sovereign bonds in recent months. Instead, there have been large issuances by Guatemala, Paraguay, Peru, Chile, Philippines, Hungary, Mexico and others. 

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Borrowers may fall shy of PPP forgiveness standard, SBA watchdog warns

05/08/20

The Small Business Administration's Inspector General also flagged a number of shortcomings in the implementation of the Paycheck Protection Program.

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