Bankruptcy Blogs

The Women to Watch: No. 12, Howard Bank's Mary Ann Scully

09/25/17

A "transformational" capital raise led by CEO Mary Ann Scully set the stage for Howard Bank's largest-ever acquisition.

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Memo to Equifax CEO: Don’t follow Wells’ lead

09/24/17

A year ago, then-Wells CEO John Stumpf testified before two committees. It went so poorly Stumpf later resigned and his bank is still struggling to repair the damage. Here's how Equifax CEO Richard Smith can avoid the same fate.

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Boomerang Systems – 12(b)(6) Motion to Dismiss Denied

09/22/17

In a decision signed September 21, 2017 in an adversary proceeding related to the Boomerang Systems bankruptcy (case 15-11729), Judge Walrath of the Delaware Bankruptcy Court denied a defendants FRCP 12(b)(6) motion to dismiss a preference complaint. Judge Walrath’s opinion is available here (the “Opinion”).

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Mnuchin shows no interest in continuing FSOC’s hedge fund inquiry

09/22/17

The lack of progress by the Trump administration with an examination of hedge fund risks is particularly troubling in light of key Trump backers’ ties to the hedge fund industry.

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‘Talk about unfair and deceptive!’: Comments of week

09/22/17

Readers chime in on debates about ILCs, the CFPB’s arbitration rule, the financial services ambitions of tech firms and more.

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Warren targets Equifax investor disclosure, board’s clawback powers

09/22/17

Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.

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Bankers on high alert for liquidity risk as 3Q draws to close

09/22/17

A slight decline in core deposits in the second quarter stoked worries that tighter liquidity is around the corner. Bankers are exploring responses beyond the typical CD rate special if third-quarter results show the trend is continuing.

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How a large SBA lender found a new way to expand

09/22/17

Live Oak Bancshares is used to finding ways to make small-business loans, but its new M&A operation was formed after two bankers pitched the plan to Live Oak's management.

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CFPB arbitration rule is an undeniable win for consumers

09/22/17

The Consumer Financial Protection Bureau’s final rule on arbitration clauses may be bad news for alleged corporate wrongdoers like Equifax and Wells Fargo, but surely for the victims of such wrongdoing — and for consumers, generally — it is good news indeed.

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AIG may shed its SIFI tag; Equifax CEO to testify before Senate

09/22/17

The Financial Stability Oversight Council meets Friday to discuss removing the label from the now shrunken insurer; Senate Banking Committee to hear Richard Smith on October 4.

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