Bankruptcy Blogs

CFPB Commission Is Essential, Not a Trojan Horse

01/04/17

The current single-director leadership structure of the Consumer Financial Protection Bureau is not a recipe for transparency and accountability. Creating a multimember commission to oversee the agency is the answer.

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Morning Scan: Bitcoin Breaks $1,000; CFPB Fines Two Credit Bureaus

01/04/17

Receiving Wide Coverage ...

Bitcoin boost: While the Dow Jones Industrial Average struggles to reach the 20,000 mark, a different financial milestone was hit on New Year's Day. On Sunday bitcoin broke through the $1,000 mark for the first time, and kept climbing to $1,022 on Tuesday. The digital currency gained about 123% in value in 2016, due to global uncertainty and inflation fears. "The currency had faded from the public eye through early 2016 as...

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Filing for Bankruptcy Without a Lawyer

01/03/17

forms “Why should I pay money I don’t have to a lawyer to file for bankruptcy? Isn’t it just filling out a few forms!”

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Modular Space Corporation Files for Chapter 11 Bankruptcy Protection

01/03/17

On December 21, 2016, Modular Space Corporation and its affiliated entities (“Modular Space” or the “Debtors”) filed for bankruptcy protection in the U.S. and Canada, to implement a plan to rework its $1 billion load of long-term debt.  Modular Space will continue its operations during what the restructuring. Modular Space makes, leases and sells office trailers, mobile offices, temporary classrooms, modular office complexes and portable storage units.

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Why GSE Recapitalization Talk Is Premature

01/03/17

Proponents of "recap and release" misread the political risks and the depth of interest that key lawmakers have in determining the long-term future of Fannie Mae and Freddie Mac.

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Morning Scan: Jain on the Street; CFPB Eyes Overdraft Charges

01/03/17

Receiving Wide Coverage ...

He's back: Anshu Jain, the former co-CEO of Deutsche Bank, is joining Cantor Fitzgerald as group president, a newly created position, where he will help oversee Cantor's overall strategy and expansion efforts. His appointment comes 18 months after Jain resigned from Germany's largest bank "as concerns mounted over Deutsche's financial health and the many investigations it was facing," the New York Times said. He joined Deutsche in 1995, becoming co-CEO in 2012...

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Humanizing Data Is the Real Competitive Advantage

01/02/17

Even in a digital era, human connections still matter. That is one big disadvantage for fintech startups and increasingly for banks as customers stop making regular branch visits. So it is instructive to hear SoFi's thinking on how to overcome this challenge. It is trying some unorthodox tactics to better understand the people behind the data and to create meaningful connections with them.

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How to Achieve Diversity: Stop Making Excuses

12/30/16

Businesses, governments, universities and the Federal Reserve all struggle to adequately reflect the populations they serve. It's time to take ownership of diversity outcomes.

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CFPB Commission Structure Proposals

12/29/16

I have an op-ed in American Banker about proposals to convert the CFPB into a commission structure.  Basically, the idea that a commission structure increases accountability and policy stability and reduces arbitrary or abusive actions by an agency just doesn't hold water upon examination.  

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Women in Banking: Unbiased Online Lending, SEC's Next Head

12/29/16

Online lenders could be opening doors for female entrepreneurs; the San Francisco Fed's Mary Daly talks about closing the gender gap in the research department; Barclays' UK diversity chief shares mentor-mentee relationship tips; Centric's Patti Husic creates a millennial advisory board. Carver Bancorp's former CEO is joining Citi's board and we take a look at Mary Jo White's possible successor. Plus, a look back at the year for Mary Mack, Carrie Tolstedt, Kathie Andrade and Nandita Bakhshi.

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