Bankruptcy Blogs

Payments Innovation Wars, Part II: U.S. Strikes Back

01/06/17

Regulators here made strides to encourage innovation in 2016, while Brexit cast doubt on the London fintech boom. Yet the cross-Atlantic payments battle is just beginning.

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Morning Scan: Corzine Settlement; Deutsche Fills Post

01/06/17

Receiving Wide Coverage ...

Corzine settles: Former New Jersey governor and Goldman Sachs CEO Jon Corzine agreed to pay $5 million to settle Commodity Futures Trading Commission charges related to his role in the 2011 collapse of commodities brokerage MF Global Holdings, which Corzine headed. Under the terms of the deal, Corzine must pay the penalty out of his own pocket, not from insurance proceeds, "an unusual step that highlighted that the case was a high...

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The Real Reason Behind the Calls for Firing Richard Corday (and the Costs of Doing So)

01/05/17

The calls for Donald Trump to fire CFPB Director Richard Cordray are getting louder (see here and here). It's worthwhile understanding what's really afoot here. Cordray's term as CFPB Director expires in July 2018, so firing him in January 2017 doesn't seem to accomplish a lot.

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Women in Banking: Chatbot Worries; Fidelity's Strategy Change

01/05/17

One of the designers who worked on Kasisto's chatbot Kai argues that technologists are perpetuating female stereotypes; SoFi has some unusual ideas about how to get to know its customers better; and Fidelity gives in to the ETF trend. Also, Cathy Engelbert, Barbara Boxer and Megyn Kelly.

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Trump Post Office Mechanic's Liens

01/05/17

It's not often that one finds mechanic's liens in the news.  I think this is ripe for inclusion in secured credit casebooks.

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Why #BankBlack Falls Short

01/05/17

We need more and bigger black-owned banks, not just a surge of deposits for a few institutions, especially if those institutions have not proven that they adequately serve the black community.

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As Long as There Are Megabanks, There Will Be Bailouts

01/05/17

Any method for unwinding too-big-to-fail institutions that tries to avoid bailouts is a fool's errand. A more effective path may be reducing the size of TBTF banks or regulating them as utilities.

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Morning Scan: SEC Pick Seen as Street Friendly; Wooing Banks

01/05/17

Receiving Wide Coverage ...

Too friendly?: Jay Clayton, President-elect Donald Trump's pick to run the Securities and Exchange Commission, "is expected to end the streak of aggressive regulators and litigators overseeing the country's top markets," the Wall Street Journal reports, describing Clayton in the headline as "a 180" from the outgoing chair Mary Jo White. The nomination of Clayton, a partner at Sullivan & Cromwell who has represented the likes of Goldman Sachs and Barclays, "signals...

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The One Question Every Bank Must Ask — And Answer

01/04/17

Almost 40 years ago, a rock music legend asked a question that too many banks are failing to address today.

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