Bankruptcy Blogs

This Is the Absolute Worst Time to Weaken Global Bank Rules

12/02/16

With the anti-globalism sentiment growing in parts of Europe and the U.S., a "my country first" approach to international bank regulation will hurt financial institutions and their local economies.

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Morning Scan: Mnuchin Plans to Drive Growth; House Votes to Amend SIFI

12/02/16

Receiving Wide Coverage ...

It's official: Wells Fargo has formally separated the roles of CEO and chairman under pressure from some large investors, including several state treasurers, according to the Financial Times. John Stumpf, the bank's former chairman and CEO, resigned in October following the bank's phony accounts scandal and was replaced by Timothy Sloan as CEO and Stephen Sanger as chairman. But on Thursday Wells went further, amending its bylaws to mandate the split. "Wells'...

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Women in Banking: Quashing Fintech Fears, Sexism at Work

12/01/16

Citi's Debby Hopkins is retiring at the end of this year and Fidelity's Abigail Johnson is taking over for her father as its new chairman. Beth Mooney, Morgan Cambern, Claire Calmejane, and other execs talk about the impact fintech has had in their jobs and why technology should be embraced and not feared. Meanwhile, Citi faces a suit from a former trader over its alleged "Bro's Club" practices.

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How the Mobile Banking Revolution Favors In-Store Branches

12/01/16

The smallness of in-store branches used to be a liability, but with the industry's changing landscape, strategically-placed "alternative branches" make more sense today.

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OCC Could Gain Power as Other Agencies Fall Out of Favor

12/01/16

Some regulatory agencies appear ripe for criticism or curbs to their authority in the incoming Trump administration, but the Office of the Comptroller of the Currency is in position to have its authority expanded.

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Morning Scan: Mnuchin Talks Regulation, Taxes; Subprime Auto Woes

12/01/16

Receiving Wide Coverage ...

Mnuchin speaks: Steven Mnuchin discussed his views on regulatory and tax policies Wednesday after being named President-elect Trump's designated Treasury secretary. Speaking on CNBC, Mnuchin said he would focus on rolling back parts of the Dodd-Frank financial reform law. "The number one problem with Dodd-Frank is that it's way too complicated and cuts back lending," he said, adding, stripping back part of the law "will be the number one priority on the...

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Ninth Circuit Requires Debtors to Pay Interest at Default Rate to Cure Default

11/30/16

In the recent decision of Pacifica L51 LLC v. New Invs., Inc. (In re New Invs., Inc.), 2016 WL 6543520 (9th Cir. Nov. 4, 2016), the Ninth Circuit held that section 1123(d) legislatively overruled Great W. Bank & Tr. v. Entz-White Lumber & Supply, Inc. (In re Entz-White Lumber & Supply, Inc.), 850 F.2d 1338 (9th Cir. 1988), and required debtors to pay interest at the default rate in order to cure a default pursuant to a plan of reorganization.

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Security Must Be First Priority in Screen-Scraping Debate

11/30/16

Consumers' providing bank credentials to third-party services is akin to handing over their house keys. To mitigate screen-scraping risks, banks and fintech companies must first address issues related to security, transparency and control.

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