Bankruptcy Blogs

‘It’s game time’: Libor transition to pick up steam in new year

12/29/19

Regulators' oversight of the industry's switch to a new interest rate benchmark is expected to intensify as a key deadline approaches.

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Wells Fargo, Comerica, BancShares: Bankers on the move

12/29/19

Wells Fargo's continued leadership shake-up led to more executive shuffling in the final two montsh of 2019.

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Supreme Court Set to Hear Passive Stay Violation Case

12/29/19
Seeking to resolve a 5-3 split among the Courts of Appeals, the Supreme Court will consider whether a creditor which passively retains property of the estate violates the automatic stay.  Case No. 19-357, City of Chicago v. Fulton. The Second, Seventh, Eighth, Ninth and Eleventh Circuits have ruled that retaining possession or control of property of the debtor violates the stay. The Third, Tenth and D.C.
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Why this bank is ditching Libor now

12/27/19

Lenders have until the end of 2021 to phase out their use of the London Interbank Offered Rate in setting interest rates, but ServisFirst Bancshares and its CEO Tom Broughton see little reason to wait when a replacement is already available.

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No, the FHA should not be pushed to the brink again

12/27/19

Now is not the time for the government to cut Federal Housing Administration premiums and enter new segments of the housing market.

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Wells Fargo's Scharf sows unease while considering change

12/27/19

Intense scrutiny from poker-faced CEO Charlie Scharf is prompting executives at the bank to ponder their units’ strategies — as well as what’s in store for their own careers.

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Global banks cutting nearly 80,000 jobs this year, most since 2015

12/27/19

Morgan Stanley is the latest firm to make a year-end efficiency push, eliminating about 1,500 jobs, according to people familiar with the matter.

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Mortgage review hangs heavy over Michigan bank's new CEO

12/27/19

Tom Lopp abruptly suspended a program that accounted for 83% of Sterling Bancorp's mortgage production this year. An ongoing audit of the program and pressure to diversify beyond mortgages are reasons to watch Lopp and Sterling in 2020.

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FHFA’s focus in reforming GSEs: Capital, capital, capital

12/26/19

A risk-based capital rule for Fannie Mae and Freddie Mac is expected to top the agenda in 2020 as the companies’ regulator executes plans for their release into the private sector.

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Banks under mounting pressure to increase deposits per branch

12/26/19

Low rates and spotty loan demand mean banks are having to “dig deeper” to improve efficiency and maintain profit margins.

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