Bankruptcy Blogs

CFPB critics moving swiftly to challenge payday lending rule

04/30/20

Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act.

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Permanent U.S. Resident Loses 3rd Deportation Appeal Following Bankruptcy Fraud Conviction

04/30/20

Joe Guidice, who starred with his wife Teresa on the Bravo reality show "The Real Housewives of New Jersey," was denied a 3rd deportation appeal and will remain in Italy where he traveled following his release from prison on a conviction for bankruptcy fraud.  In 2014, Guidice pled guilty to bankruptcy fraud and conspiracy to commit wire and mail fraud.  A permanent resident of the United States who was born in Italy but never became a citizen, Guidice was ordered to be deported following his 41 month prison term.  For a while, he chose to stay in t

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5 ways the coronavirus could affect home prices

04/30/20

The S&P CoreLogic Case-Shiller home price index hasn't yet reflected the impact of the coronavirus, but an independent market maker has some thoughts on how it might.

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Immunity, Necessity and the Enforcement of Italian Debt in the Era of Covid-19

04/30/20

Mark Weidemaier & Mitu Gulati

The sovereign debt world has been debating how to design an emergency debt standstill for the poorest nations, so that they can devote scarce resources to public health rather than debt service. As we’ve discussed on this blog, the question has come up as to whether countries might be able to use the customary international law doctrine of necessity to defend against creditor lawsuits.

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PPP fee income will go straight to loan-loss reserves at many banks

04/30/20

The millions of dollars earned from Paycheck Protection Program transactions will help cover rising provision costs tied to the new CECL accounting standard and coronavirus shocks to loan books.

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OnDeck sharply curtails lending as delinquencies mount

04/30/20

The online lender reported a hefty first-quarter loss on Thursday and said that a whopping 45% of its small-business loans are past due.

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Oklahoma credit union to buy community bank

04/30/20

Tinker Federal Credit Union's deal for Prime Bank in Edmond, Okla., is set to close later this year.

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Agencies signal support for more capital relief in midst of crisis

04/30/20

In separate letters to Congress, the Fed asked for legislative action to ease Tier 1 capital minimums while the FDIC said it may use its own authority to address the market strain on banks.

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The Resurgence of Calls For Financial Literacy

04/30/20

Today is the last day of National Financial Literacy Month. At a time when the economy has come to a grinding halt, it seems pertinent to talk about financial literacy, or, more accurately, the fallacy of financial education.

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Coronavirus hitting millennials' finances the hardest: TransUnion

04/30/20

Nearly 70% of U.S. adults between the ages of 26 and 40 said their earnings had been negatively affected by the outbreak, about 10 percentage points higher than other age group.

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