Bankruptcy Blogs

CFPB's No. 2 to leave agency for law firm

02/25/20

Deputy Director Brian Johnson spent more than two years serving under two separate CFPB directors. He will become a partner at Alston & Bird LLP next month.

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The Emperor's Old Bonds

02/25/20

Inspired by Tracy Alloway's recent piece on antique Chinese bonds (here), a group of my students has gone deep down the rabbit hole of the question of how one might recover on them (or, from the Chinese government’s perspective, how one would block recovery).  If I’m reading Michael, Charlie and Andres correctly, they think that the probability of recovery via litigation is near zero on almost all of the antique Chinese bond

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Bank of Canada lays groundwork for digital currency

02/25/20

"We need to move forward to work out what a potential CBDC might look like and how it could be managed, if the decision were ever taken to issue one," Deputy Gov. Tim Lane said, according to the text of remarks to be delivered Tuesday in Montreal.

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Nearly all age groups say they’d bank with tech giants

02/25/20

In every segment except people older than 64, a majority would consider banking with Apple, Google, Amazon or Facebook, a new survey finds.

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Santander acquiring Elavon’s Mexican operation

02/25/20

Banco Santander’s global digital transformation has led it to Mexico, where the bank has agreed to acquire U.S. Bancorp’s Elavon Mexico merchant acquiring unit for about $84 million.

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CFPB's Kraninger says QM proposal, remittance rule will be out by May

02/25/20

The agency's director said both steps will come as part of an ongoing review of agency rules and show "my commitment under the law to be effective and evidence based” in providing clarity to stakeholders.

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A profit letdown for banks in 2019

02/25/20

The FDIC’s Quarterly Banking Profile said lackluster net interest income, likely resulting from lower short-term interest rates, drove a decline in fourth-quarter and full-year earnings.

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CRA reforms would bolster CDFI-bank relationships

02/25/20

Giving more Community Reinvestment Act credit to such partnerships will help low-income communities, despite industry concerns.

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JPMorgan eyes plan to tap Fed's discount window to break stigma

02/25/20

Jennifer Piepszak, JPMorgan's chief financial officer, said the largest U.S. bank planned to borrow funds through the Federal Reserve's emergency lending facility in an exercise designed to break the stigma attached to that program.

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Florida de novo gets FDIC approval

02/25/20

Organizers of Gulf Atlantic Bank must raise $12 million in capital before opening.

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