Bankruptcy Blogs

Sallie Mae's student loan servicing changes could prove costly

10/27/19

The nation's largest private student lender plans to curtail its use of forbearance, a move that could well save some borrowers money but could also result in more defaults.

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Citigroup, Wells Fargo and KeyCorp: Bankers on the move

10/27/19

Big succession moves dominated the industry headlines in the past few weeks, as women claimed key chief leadership titles.

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Fifth Circuit Grants Small Victories to Student Loan Debtors

10/26/19
The news for student loan borrowers in bankruptcy is usually so grim that even a small victory is cause to sit up and take notice.   The Fifth Circuit recently handed student loan debtors two small victories, ruling that dischargeability of student loans was not subject to arbitration and that bar exam loans could be discharged.  The cases are Case No. 18-20809, Stephanie Marie Henry v. Educational Financial Service (Matter of Stephanie Marie Henry)(Fifth Cir. 10/17/19) and Case No. 18-20254, Evan Brian Crocker v.
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Regulators shutter banks in Kentucky and Ohio

10/25/19

Louisa Community Bank and Resolute Bank were closed on Friday, raising the year's total to three failures.

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Scotiabank’s ‘digital factories,’ CFPB’s complaint leader, small-regional survival guide: Top stories of the week

10/25/19

Why the Toronto bank is focusing on digital features; complaints about credit monitoring plans flood CFPB; the strategies midsize banks are relying on to stimulate growth; and more from this week’s most-read stories.

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Home lending fintech expands into student loan refis

10/25/19

Figure Technologies, which has made $600 million in home equity loans in the past year, says its next move will be refinancing student loans.

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Serial acquirer bound for Boston pivots to branching

10/25/19

Hometown Financial, which completed three acquisitions this year, is considering branch openings for a push into the city.

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New tech lets American Express instantly issue cards to immigrants

10/25/19

Newcomers to the U.S. tend to have a hard time getting credit cards because they lack credit history here. Amex has deployed technology from a fintech, Nova Credit, that could change this.

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The Bancorp warns of potential hit from ACH transaction

10/25/19

The Delaware company recently learned of a disputed transaction that could take a bite out of future earnings.

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How to Deal with a $3 Trillion Bully

10/25/19

I don't like bullies.  And I just ran into a $3 trillion one.  JPMorgan Chase Bank, armed with six partners at two AmLaw 100 firms (Wilmer Hale and McGuire Woods) took the truly unusual step of filing an objection to an amicus curiae brief I filed in a 9th Circuit case called McShannock v. JPMorgan Chase Bank N.A. in support of neither party. Chase objects because the brief is late (which it is) and supposedly irrelevant to the disposition of the case.

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