Bankruptcy Blogs

Banks consider spurning Equifax; Jamie hates bitcoin

09/13/17

Lenders aren’t happy with the way the credit bureau has responded to the data breach; JPM chief calls digital currency “a fraud.”

[more]

Your Friendly Neighborhood Sanctions Running Strategy

09/13/17

We are about to hit an anniversary of sorts, a year since Venezuela was surely going to default on its debt ... except that it still hasn't, so the U.S. government has decided to nudge it along.

[more]

CEO’s sudden exit spurs big questions about SoFi’s future

09/12/17

Mike Cagney’s eventual successor will have to decide whether to continue his focus on rapid growth. Also on the table are strategic decisions about when to go public and whether to pursue a bank charter.

[more]

Chemical closing dozens of branches, scaling back in indirect auto

09/12/17

The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories.

[more]

Senators call for investigation of insider stock sale by Equifax execs

09/12/17

Thirty-six lawmakers signed a bipartisan letter Tuesday calling for an investigation into the sale of stock by Equifax executives between a data breach at the firm and when it was disclosed.

[more]

Dimon slams bitcoin: ‘It’s a fraud’

09/12/17

JPMorgan Chase CEO Jamie Dimon predicted Tuesday that the market for bitcoin is on the verge of crashing, saying it was even worse than the infamous Dutch Tulip bubble.

[more]

Equifax: A Call for Public Utility Regulation of Consumer Reporting Agencies

09/12/17

This post diagnoses what went wrong with Equifax and proposes a solution:  a public utility regulation regime for consumer reporting agencies in which the CRAs would be restricted in their ability to pay dividends and executive compensation unless they meet certain performance metrics in terms of reporting accuracy, dispute resolution, and data security.  Here goes: 

[more]

Banking roots remain sticky subject for political hopefuls

09/12/17

A New Jersey politician has downplayed his Goldman Sachs career. The move shows that bankers have a ways to go rebuilding credibility with voters, though factors such as party affiliation, location and the type of banking career also matter.

[more]

Equifax breach sparks congressional free-for-all

09/12/17

A mismatch of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.

[more]

Wells internal review may unearth more problems: CEO Sloan

09/12/17

Tim Sloan told investors Tuesday that Wells could uncover more examples of financial harm to its customers as part of its ongoing review of its sales practices.

[more]