Bankruptcy Blogs

The Boy Scouts of America Filed Chapter 11 . . . in Delaware???

02/19/20

As you almost certainly have seen, early morning, Tuesday, February 18, the Boy Scouts of America (BSA) filed chapter 11 (Case No. 20-10343). The filing solely was motivated by the deluge of sex abuse claims filed against BSA. There currently are approximately 275 lawsuits pending in state and federal courts across the country. The case raises a host of issues--from litigation consolidation and multi-district litigation to limited liability to ensuring that survivors have a voice in bankruptcy and in their pending cases.

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Is Ally's leap into subprime credit cards worth the risk?

02/19/20

Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion.

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LendingClub deal could spur more fintech-bank mergers

02/19/20

The challenge for other fintechs will be to find banks that are as compatible as Radius Bank, an online-only lender, is for LendingClub.

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Wage advance firm Earnin targets employers in bid to reach more consumers

02/19/20

The move comes as the fintech tries to shake off criticism that its main products are payday loans by another name.

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Regulators extend CRA comment period, bowing to congressional pressure

02/19/20

In a sudden reversal, the OCC and FDIC said they would push back the deadline to April for groups to weigh in on the proposal to modernize the Community Reinvestment Act.

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A vetting guide for banks mulling fintech partnerships

02/19/20

The game has changed and bank executives will have to do more homework before striking a deal.

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HSBC plan sidesteps CEO question; Bloomberg would toughen bank regulations

02/19/20

The overhaul calls for massive job cuts but leaves interim CEO Noel Quinn’s permanent role in limbo; the program would throw out most of Trump’s Dodd-Frank rollbacks.

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The Milken Pardon and the Trump Connection?

02/18/20

There's something really surreal about Donald Trump's pardon of Michael Milken. Trump and Milken were (with Ivan Boesky) the leading symbols of the excesses of capitalism in the 1980s. And here we are today. 

It seems that whatever Trump does, there's always a previous Trump tweet or quotation, and this time doesn't disappoint. Here's what a certain Donald J. Trump was quoted in 1990 in the NY Times regarding Milken's jail sentence:

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Fed's ownership rule could open door to more activist investors

02/18/20

Clearer standards make it easier for shareholders to boost their stakes in banks without having to file for bank holding company status.

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Ally to pay $2.6B for unsecured lender CardWorks

02/18/20

CardWorks also specializes in non-prime credit cards and loans for recreational and marine vehicles.

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