Bankruptcy Blogs

CFPB and ACICS Retrospective

12/16/16

The Department of Education just stripped the Accrediting Council for Independent Colleges and Schools of its accreditation role.  (For those of you not in academy, this accreditation is critical for schools to get DoE funds, among other things.  It's part of what enables the ABA's on-going tyranny of legal education.)  Some of you might remember that in 2015, the CFPB issued a Civil Investigative Demand to ACICS, the authority for which ACICS challenged successfully.

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Tech Upgrades Are a Waste If You Don't Know Your Customer

12/16/16

To act like a startup Â-- as many banks say they want to do Â-- institutions must employ a non-technical strategy: build services based on customers say they want.

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Nonbanks Dominating FHA Is a Good Thing

12/16/16

Borrowers served by the FHA program, particularly first-time buyers and minorities, have benefitted from nonbanks' increase in lending. Those independent lenders should be commended for filling a gap.

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Morning Scan: Incentives Ended; Tallying Complaints

12/16/16

Wall Street Journal

Incentives dropped: Wells Fargo said it will stop offering bonuses to its securities brokers for urging customers to take out loans, including mortgages, securities-backed loans and other consumer lines of credit. "Such bonuses usually come in the form of deferred compensation and can add several thousand dollars to a broker's annual pay," the Journal said. Erik Karanik, a managing director at Wells Fargo Advisors, said the move brings the brokerage unit in line...

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Women in Banking: Small Banks as Tech Vendors; Parental Leave Trend?

12/15/16

A startup aims to highlight the social impact that banks have to allow easier vetting by prospective customers; community banks like Jill Castilla's are getting income from being tech vendors; and Amex is making its parental leave policies better next year, in a move that just might be an emerging trend. Plus, Wonder Woman loses her U.N. job Â... because of the way she dresses.

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Thanks to Gary Neustadter

12/15/16

Credit Slips was fortunate to hear from Professor Gary Neustadter of Santa Clara Law this month on consumer credit issues.

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GSE 'Recap' Experiment Is Just a Sideshow

12/15/16

It is not a clear-cut statement to say Fannie Mae and Freddie Mac need more capital, and it detracts from the real debate over long-term housing finance reform.

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The Case Against the Credit Union Rubber Stamp

12/15/16

The National Credit Union Administration rule expanding member business lending introduces new risks and lacks legal basis.

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