Bankruptcy Blogs

Can newcomer Level stand out in a sea of challenger banks?

03/08/20

The all-digital bank is hoping to win over consumers with above-average savings rates and more detailed analysis of their spending habits.

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Figuring Out the Terms in The Lebanese Bonds (and Why Do the Agents in Sovereign Bonds Suck?)

03/08/20

My students have been valiantly trying to track down the Fiscal Agency Agreements (FAA) for Lebanon that tie in to the offering documents. Those are crucial for anyone trying to figure out a restructuring strategy for the government, which is one of our projects for the term.  And, although I am optimistic that my students will figure out a way to get them, they have so far been met by a brick wall.

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Skeel on the Puerto Oversight (NOT Control) Board

03/07/20

I have long been a fan of both David Skeel's research and him as a person. Not only was his book Debt's Dominion key to some of the earliest research I did on Collective Action Clauses, but he was always willing to answer my stupid questions about basic concepts (something that fancy tenured professors at Ivy League schools do not often do).

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Dealing with the Financial Impact of the Coronavirus

03/06/20

With the continuing spread of the Coronavirus Disease 2019 (“COVID-19” or “coronavirus”), hospitality service providers are facing a number of issues that have already exacted a heavy financial toll. With consumers staying home and employers limiting travel, there is currently significant pressure on revenues and operating margins. Regardless of the ultimate health impact of this crisis, there is already a significant economic crisis and it may get worse before it gets better.

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Bank regulators update pandemic guidance as coronavirus cases grow

03/06/20

The agencies recommend steps banks should take to proactively prevent disruption of operations, minimize contact between staff and customers, and plan for how affected employees reenter the workplace, among other things.

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As State Farm bows out, U.S. Bank seizes an expansion opportunity

03/06/20

State Farm struggled to make its bet on banking pay off and decided like other insurers to exit the business. U.S. Bancorp swooped in to add deposits and credit card accounts at little cost or risk.

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Banking on Alexa, fintech enemy no. 1, coronavirus: Top stories of the week

03/06/20

A handful of banks keep trying to make the customer-Alexa connection happen; banks are more worried about payments firms than other types of fintechs; how financial institutions are coping with COVID-19; and more from this week’s most-read stories.

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How Citi is helping a minority-owned bank get back on its feet

03/06/20

Unity National Bank of Houston, which has reported losses three straight years, is receiving guidance and resources from Citigroup through a Treasury mentoring program.

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Wells Fargo aims for top of digital wallet with $5 bonus

03/06/20

Wells Fargo hopes to anchor its debit card at the top of customers’ digital wallets with a promotion offering users a $5 credit.

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Farmers and Merchants in Maryland to buy neighboring bank

03/06/20

The company will pay $25 million in cash for Carroll Bancorp in a deal between Baltimore-area banks.

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