Bankruptcy Blogs

A Whole Lot of Hurt in Auto Lending May Be Coming

12/23/16

The similarities between the mortgage crisis and subprime auto lending in 2016 are all too obvious, with constrained cash flows, defaults and investor losses all likely.

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Morning Scan: U.S. Sues Barclays Over Toxic Mortgages; Settles with Deutsche, Credit Suisse

12/23/16

Editor's note: Morning Scan will publish next on Jan. 3, 2017. Happy holidays from all of us at American Banker and SourceMedia. Receiving Wide Coverage ...

Off to court: Having failed to reach a settlement following its long-running investigation into the British bank's alleged role in selling toxic mortgage-backed securities, the U.S. Justice Department is suing Barclays PLC. "It is highly unusual for the Justice Department to sue a bank, rather than reaching a settlement," the Wall...

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Bankruptcy Attorney Named by Trump as Ambassador to Israel

12/22/16

BLN faviconThere are many kinds of law being practiced in the United States — and a wide variety.   Some attorneys deal with people issues, like family law or estate planning or social security.  Other attorneys never see clients or interact with people (government attorneys work for entities or agencies).

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Wells Scandal Ups Ante on Compliance Officer Accountability

12/22/16

At a time when individual accountability at corporations is mounting, here is how compliance officers can detect and prevent fraud occurrences within their own firms.

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Wells Fargo's Failure to Authenticate Led to Sham Accounts

12/22/16

Had Wells Fargo simply complied with regulatory guidelines on multifactor authentication across all channels, there would have been substantially less fraud.

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Morning Scan: Plotting Against Mnuchin; 'The Big Short' Goes Long on Banks

12/22/16

Receiving Wide Coverage ...

Pay up: The European Court of Justice ruled that Spanish lenders must reimburse mortgage borrowers for charging them excess interest payments on variable-rate mortgages. The ruling, which can't be appealed, follows a 2013 decision by Spain's highest court that outlawed "mortgage floor" agreements on loans because banks didn't pass along the savings from low rates to customers. The ECJ confirmed the Spanish court decision but also said borrowers could seek reimbursement for...

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Dismissal of Preference and Fraudulent Transfer Claims Granted

12/22/16

In the recent decision of George L. Miller v. Edward Welke, et al. (In re United Tax Group, LLC), Adv. Pro. No. 16-50088 (LSS), the Delaware Bankruptcy Court considered a motion for judgment on the pleadings in connection with the Trustee’s complaint asserting preference and fraudulent transfer claims.

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ICBA's Suit Against NCUA Over Business Lending Is Meritless

12/21/16

The National Credit Union Administration acted appropriately, within its legal authority, when issuing its member business lending rule.

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Where Should Trump Start on China Trade Policy? Visa and Mastercard

12/21/16

President-elect Trump has threatened retaliatory tariffs on China if they cheat on their trading obligations. A good place to start would be ChinaÂ's payment-card market.

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CFPB Tales Told Out of School

12/21/16

Former CFPB enforcement attorney Ronald Rubin has a lengthy attack on the CFPB in the National Review. It's got lots of sultry details, but there's nothing new and verifiable in the piece.

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