Bankruptcy Blogs

Banks may get boost from loan program; Trouble for mortgages not backed by U.S.

04/01/20

SBA loans could pour billions into bank coffers; Fed bailed out government-backed market, others may suffer.

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Does FSOC have a role to play in coronavirus response?

03/31/20

After budget cuts and a strategic transition, the interagency body conceived by Dodd-Frank to identify systemic threats has largely been silent as the pandemic roils the economy.

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Emergency loan program to accept applications on Friday

03/31/20

The Treasury Department and Small Business Administration are responsible for distributing $350 billion in coming months.

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Banks put job cuts — and more — on hold during coronavirus outbreak

03/31/20

While some big banks have pledged to avoid layoffs this year, hiring freezes and delayed projects are becoming the norm during the pandemic.

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Funds Available to Businesses Under the Coronavirus Economic Stabilization Act (CARES ACT Title IV)

03/31/20

Major economic stabilization funds are made available to U.S. businesses (including nonprofits), states and municipalities under Title IV of the CARES Act. Title IV itself is titled the “Coronavirus Economic Stabilization Act of 2020” (referred to in this summary as “CESA”).[1]

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Digital training for bankers paying off in coronavirus crisis

03/31/20

Customers are more reliant than ever on digital banking tools, and institutions like OceanFirst, BBVA and M&T are thankful they had invested in teaching employees to show customers how to use them.

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High anxiety among energy lenders as oil prices plummet

03/31/20

Weak demand for oil and gas, brought on by the economic fallout of the coronavirus outbreak, has raised concerns of energy firms missing loan payments or even going bankrupt. Here’s how banks and regulators are trying to get ahead of potential problems.

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Calls to cease non-coronavirus rulemaking grow louder

03/31/20

The ICBA chief’s plea for a six-month halt to regulations not related to the pandemic followed similar calls by community groups and a key Senate Democrat.

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How to Protect Yourself from Vehicle Repossession In Case of Coronavirus Layoff

03/31/20

If you have lost your job due to the coronavirus crisis, you are likely in survival mode. Your immediate goal should be to “shelter in place” to protect your health and that of your family. Beyond that, whatever funds you have need to be allocated to food and shelter.

But what about transportation? Is your vehicle at risk of repossession even in a time of national emergency? What steps can you take to protect your car or truck?

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CARES ACT student loan relief

03/31/20

The CARES Act signed into law last week suspends payments and eliminates interest accrual for all federally-held student loans for six months, through September 30. These measures exclude private loans, privately-held FFEL loans and Perkins loans. The other five subsections of section 3513 mandate important additional relief. Under subsection (c) the six suspended payments (April to September) are treated as paid for purposes of “any loan forgiveness program or loan rehabilitation program” under HEA title IV.

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