Bankruptcy Blogs

Man Sentenced to 12 Years in Prison in Mortgage Rescue Scheme

03/17/20

In a case we reported on here, Aston Wood of Wisconsin and Florida was sentenced today to 12 years imprisonment for his role in a mortgage rescue scheme that defrauded more than 70 homeowners in Wisconsin of approximately $390,000.  Wood was able to collect mortgage payments from homeowners for months, even years, by falsely reassuring them that their payments were going to their mortgage lenders and that new loans were

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Wells Fargo cancels $15 million bonus to former CEO Tim Sloan

03/17/20

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.

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Democratic senators quiz CFPB on its auto lending policies

03/17/20

Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.

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How Should You Deal With Creditors If You Lose Income Due to the Corona Virus?

03/17/20

How should you handle your creditors if you experience an unexpected drop in income, a layoff or loss of that part time job that was keeping you afloat?

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Ex-PayPal CEO Bill Harris launches neobank for struggling households

03/17/20

The serial entrepreneur has created a challenger bank called One for middle-income people with complicated financial lives.

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Fed to create emergency backstop for commercial debt market

03/17/20

The central bank said it was establishing the Commercial Paper Funding Facility to "support the flow of credit to households and businesses."

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How regulators can kick COVID-19’s bank shock into remission

03/17/20

There are several forbearance measures the agencies can take now to keep banks from failing in a downturn triggered by the coronavirus.

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N.Y., California want more regulation; bank stocks hammered again

03/17/20

The governors want more regulatory power as federal oversight slips; U.S. and European banks dropped sharply Monday as coronavirus-related problems multiply.

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California settles with point-of-sale lender Afterpay

03/17/20

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state.

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Are ATMs making the coronavirus crisis worse?

03/17/20

Automated and interactive teller machines aren’t germ-free in the best of times, and the pandemic has raised new concerns about the possibility of those devices infecting consumers and staff.

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