Bankruptcy Blogs

City Payroll Clerk Charged with Filing Fraudulent Document in Chapter 13 Case

01/31/20

As reported in the news, a city payroll clerk was indicted in the Southern District of Alabama on charges that she falsified city records and altered check stubs to make it falsely appear that payroll deductions were being made to properly fund her chapter 13 plan payments, according to the indictment.  Sheila Milner Jackson was charged with filing a fraudulent document in a b

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Hilltop in Texas to sell specialty insurance unit for $150 million

01/31/20

National Lloyds, which provides insurance for mobile homes, has a distribution network that operates in 40 states.

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Leveraged loan risk remains 'elevated,' regulators warn

01/31/20

Nonbanks hold a disproportionate percentage of the worst-rated loans, but banks hold a majority of the market, and risk management safeguards are largely untested, according to an interagency report on shared national credit.

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CIBC plans job cuts, joining Canadian peers in savings quest

01/31/20

The Toronto firm, Canada’s fifth-largest lender by assets, must keep “a careful eye on costs” and improve efficiency, its CEO said in a corporate memo.

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Consumer lending outlook: Solid near term, shaky long term

01/31/20

Mortgages, auto loans and credit cards should perform well for the next two quarters. Beyond that, all bets are off.

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Why an algo-trading software firm caught BMO's eye

01/31/20

Clearpool's chief executive says BMO Financial Group, which is buying his company, saw a chance to gain control of cutting-edge technology that would help it cater to a special type of commercial customer.

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CIT Group launches new products for small businesses, HOAs

01/31/20

A new app will allow small-business clients to quickly apply for credit while expanded offerings for homeowners associations will help CIT build up its base of low-cost deposits.

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Warren asks Fed nominee to clarify policy stances

01/31/20

The Massachusetts senator took aim at certain views expressed by Judy Shelton, a Trump administration pick to sit on the Federal Reserve Board, that have sparked controversy.

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Bankruptcy Solves Rod’s Security Clearance Problem

01/31/20

Two weeks after filing bankruptcy, Rod got his security clearance. Rod contacted me from a military base in the Midwest. The military wanted to give him a new assignment, in the DC area, with more responsibility. His wife and children had already rented a place and moved, while he was awaiting orders.   At the […]

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CECL is a real threat to the financial system

01/31/20

The new accounting standard meant to prevent another financial crisis could actually trigger one.

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