Bankruptcy Blogs

CFPB proposes making debt collectors disclose statute of limitations

02/21/20

Debt collectors would have to tell consumers upfront that they cannot sue to recover "time-barred" debt under a proposal issued Friday by the Consumer Financial Protection Bureau.

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PNC gets sued, LendingClub buys bank, regulators spar: Top stories of the week

02/21/20

Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.

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Boy Scouts of America:  Venue Demerit Badge

02/21/20

Boy Scouts of America’s bankruptcy filing is among the most flagrant abuse of the venue statute ever. It’s an illustration of just how broken the bankruptcy venue system is. But it might not be too late to do something about it. 

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Bankers embrace new guidelines for ethical AI

02/21/20

Regions, Citizens, BMO and others are adopting principles IBM unveiled at Davos.

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Mnuchin's late to the crypto regulation party

02/21/20

The Treasury secretary's statements are a sign that government agencies are still in the early stages of understanding this fundamentally new technology.

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Why more issuers see profit in secured credit cards

02/21/20

Ally Financial's recently announced $2.65 billion cash-and-stock deal for CardWorks, which offers unsecured credit cards among other products, places a high price tag on a traditionally risky product.

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GSEs may be freed with Treasury backstop, Mnuchin says

02/21/20

Fannie Mae and Freddie Mac are expected to retain “limited and tailored government support” after they are released from U.S. control, Treasury Secretary Steven Mnuchin said in a letter to lawmakers.

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Wells Fargo nears $3 billion deal to end federal probes

02/21/20

Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter.

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Wells may be poised to settle; Dissecting Morgan Stanley, E-Trade deal

02/21/20

The bank could announce as early as Friday a deal on charges it wronged customers; the acquisition allows Morgan Stanley to compete in retail banking.

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California Real Estate Developer Sentenced Following Plea to Withholding Documents and Concealing Assets

02/21/20

William Garlock, a 70 year old real estate developer in California, was sentenced on February 18th to one year and one day imprisonment, a $150,000 fine, a 3 year term of supervised release, and 100 hours of community service for concealing assets in a bankruptcy case.  Garlock pleaded guilty to a superceding indictment charging him with one count of fraudulently withholding recorded information and one count of concealing assets in a bankruptcy case.

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