Bankruptcy Blogs

House clears bill to ease limits on QM points and fees

02/08/18

The legislation, a similar version of which passed in the last Congress, would give favorable regulatory treatment to certain loans even if real estate-related fees were paid to an affiliate of the lender.

[more]

When fintech lite is the right small-business lending strategy

02/08/18

Marquette Bank is proof that community banks don't have to be the fastest or flashiest to compete with online lenders. Instead, the Chicago bank closely mirrored fintech offerings while promoting personal service to set itself apart.

[more]

Mulvaney can’t just kill CFPB payday rule, but here’s what he can do

02/08/18

Delaying the rule's effective date or refocusing it on disclosure requirements are among the options for the Consumer Financial Protection Bureau's acting director to ease its impact on the industry.

[more]

Ginnie Mae threatens to dump lenders from veterans mortgage program

02/08/18

Nine lenders have been warned by the U.S. that they will be kicked out of a top mortgage program within months unless they find ways to stop costly rapid refinances of veterans' loans.

[more]

M&A isn’t the answer: We need more, not fewer, community banks

02/08/18

Additional consolidation would not strengthen the industry, but would instead leave consumers with less choice and reduced access to financial services.

[more]

Lawmaker urges crypto groups to restrict hate groups

02/08/18

Rep. Emanuel Cleaver, D-Mo., sent a letter to two virtual currency trade associations on Thursday asking them what their members are doing to prevent hate groups from using cryptocurrencies to finance themselves.

[more]

More Wells woes; DOJ busts identity thieves

02/08/18

S&P lowers the bank’s rating to A-minus following Federal Reserve sanctions on growth; 13 are arrested after alleging defrauding banks of $530 million over seven years.

[more]

Bankruptcy's Lorelei: The Dangerous Allure of Financial Institution Bankruptcy

02/07/18

I have a new (short!) paper out, Bankruptcy's Lorelei:  The Dangerous Allure of Financial Institution Bankruptcy. The paper, which builds off of some Congressional testimony from 2015, makes the case that proposals for resolving large, systemically important financial institutions in bankruptcy are wrongheaded and ultimately dangerous.

[more]

The Bootstrap Trap

02/07/18

I just had the pleasure of reading Duke Law Professor Sara Sternberg Greene's paper The Bootstrap Trap.  I highly recommend it for anyone who is interested in the intersection of consumer credit and poverty law.

[more]

English v. Trump Amicus Brief

02/07/18

Slipsters/Slips Guest Bloggers Kathleen Engel, Dalié Jiménez, Patricia McCoy and I submitted an amicus brief (with numerous other co-signors) to the DC Circuit in support of appellant Leandra English in English v. Trump, which, despite its caption is not about assault and battery, but about who is the rightful acting Director of the CFPB.

[more]