Bankruptcy Blogs

Fed releases scenarios for 2020 stress testing cycle

02/06/20

The Federal Reserve on Thursday released the 2020 stress testing scenarios that it will use to evaluate the safety and soundness of 34 banks with more than $100 billion of total assets.

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House Dems to CFPB chief: Use the authority Congress gave you

02/06/20

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

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MUFG Union Bank names ex-Sterling CEO Seibly its president

02/06/20

Greg Seibly guided Sterling through the financial crisis before engineering its sale to Umpqua Holdings in 2014. He is currently CEO of the Federal Home Loan Bank of San Francisco.

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JPMorgan revamps digital strategy team after three leaders exit

02/06/20

JPMorgan Chase is staking its consumer-banking strategy on digital technology. In 2020, that push will be spearheaded by a new team of executives.

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Wells Fargo's latest high-level hire will oversee sales practices

02/06/20

Michael Cleary will report to Scott Powell, who had been his boss at Santander Bank.

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Texas Capital takes a risk on rewards in latest digital banking venture

02/06/20

The company's new platform targets a narrow customer segment ⁠— frequent fliers.

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Gen Y likes advice it's getting from big banks: Survey

02/06/20

A new report from J.D. Power found that younger consumers increasingly believe the largest banks are better than regionals at providing financial guidance through digital channels.

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The Bajan Debt Restructuring - 2018-19

02/06/20

Following in the footsteps of their mammoth restructuring of Greek Debt in March 2012, Andrew Shutter, Jim Ho, Lee Buchheit, and their team utilized the same "local law advantage" to design the restructuring of the Bajan debt in 2018-19.  Andrew, one of the gurus of the sovereign debt field, has just put up a super paper on this (here). The paper describes not only how the restructuring was engineered, but also the ways in which the strategy utilized was different from that used for Greece.

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Elliott Rocks (Strikes?) Again

02/06/20

Holdout hero Elliott Management, the king of holding out until it gets what it wants, scored itself a nice Christmas bonus. The hedge fund won a long game of chicken with Ireland’s government over junior bonds issued by Anglo Irish Bank by getting its money back in full.

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Frozen Wells Fargo bonuses show a peril for bankers after crisis

02/06/20

A new religion swept Wall Street after the 2008 crisis: Pay executives with stock, make them wait to collect it, and there will be fewer problems. Now a generation of executives retiring from Wells Fargo is experiencing what can happen to those payouts when new scandals arise.

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