Bankruptcy Blogs

BofA sued for role in alleged $102 million Ponzi scheme

06/26/18

The class-action suit filed on behalf of people who lost money in the scam accuses Bank of America of failing to spot suspicious activity, including deposits of hundreds of thousands of dollars into accounts with small or negative balances.

[more]

Chaos atop CFPB could get worse after appeals court ruling

06/26/18

It is still a long shot that a rival of Mick Mulvaney's will be able to reclaim the agency's top job, but judges have raised questions over whether Mulvaney can keep the position.

[more]

Court keeps Ocwen records sealed in CFPB dispute over escrow accounts

06/26/18

Ocwen Financial is able to keep the answers to questions from the Consumer Financial Protection Bureau involving the improper handling of escrow accounts confidential, a federal magistrate ruled.

[more]

Can airport branches be more than expensive billboards?

06/26/18

The rents are steep and they don't generate much revenue, but some banks believe that airport branches still have a role to play in their retail strategies — particularly as advice centers.

[more]

BMO Financial cuts first major North American lending deal with cannabis firm

06/26/18

Aurora Cannabis in Edmonton, Alberta, said it recently agreed to a $150M term loan and a $50M line of credit from Bank of Montreal, the largest traditional bank investment into the marijuana industry to date.

[more]

Small banks try to move into fintech's fast lane

06/26/18

Some community banks are partnering with fintech accelerators or creating their own to get on the cutting edge and get a leg up on their competitors.

[more]

Banks can’t partner themselves into digital relevancy

06/26/18

Buying a startup or running an accelerator program isn’t enough to help banks truly prepare for the coming digital age.

[more]

Access to Justice, Consumer Bankruptcy Edition

06/26/18

The Great Recession, the CFPB's creation, the rise of debt buying, changes in the debt collection industry, and advances in data collection have encouraged more research recently into issues of access to justice in the context of consumer law and consumer bankruptcy.

[more]

Fed may change stress test grading; Amex wins

06/26/18

Pass/fail may be replaced by public capital ratio; high court allows company to prevent merchants from favoring other cards.

[more]

House passes bill allowing telecom, utility payments in credit scores

06/25/18

The legislation, authored by Rep. Keith Ellison, D-Minn., is aimed at helping lower-income consumers build their credit histories.

[more]