Bankruptcy Blogs

Bailout Oversight Lessons from 2008

03/24/20

Damon Silvers, the AFL-CIO's Policy Director and former Vice-Chair of the Congressional Oversight Panel, has a really important column about the oversight lessons from the 2008 bailout. It was a struggle to get the Obama administration to be forthcoming about what it was doing with the bailout. It will be a much bigger challenge in the current political environment. Read Damon's column here.

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How to Help Small Businesses...Fast

03/24/20

A debt collection moratorium operates as float, which is needed to buy time until the relief checks start flowing. In other words, a debt collection moratorium is a form of stimulus. My New York Times op-ed explaining this is here.  

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Sen. Brown proposes digital account for unbanked households

03/24/20

The legislation sponsored by Sen. Sherrod Brown, an Ohio Democrat, would require banks to offer the accounts so that consumers could easily access cornonavirus relief funds without turning to high-cost check cashers.

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April wave of missed payments could upend mortgage servicers

03/24/20

With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.

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Bankruptcy Trustee Hearings Postponed Due to Virus

03/24/20

The Bankruptcy Court is Alexandria is Postponing the Trustee Hearings. Because of the corona virus, bankruptcy hearings in Alexandria VA scheduled up through April 10 are postponed. (I’m guessing the rest of April will get postponed, too.) Postponed Until When? There’s no news on when they will be reschedule, or how. Some courts have adopted […]

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Mnuchin backs designating financial sector workers as 'essential'

03/24/20

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.

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Challenger bank Revolut launches in the U.S.

03/24/20

The mobile-only bank offers many standard neobank features and some added payment options.

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Calls for CECL delay expose standard's flaws

03/24/20

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all.

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What five years of AI have taught Ally Bank

03/24/20

Anand Talwar, deposits and consumer strategy executive at Ally Bank, and Jody Bhagat, president of the Americas for Personetics, explain how their technology collaboration has evolved from a virtual assistant to customized, real-time "insights" for customers.

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Fed goes all in; Santander chief takes pay cut

03/24/20

The Fed announced several new lending facilities and virtually “unlimited” purchases of Treasury bonds; Ana Botín will donate the money to a coronavirus fund.

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