Bankruptcy Blogs

What Trump Can Do to Fix Regulators' Data Flaws

11/16/16

The president-elect should consider establishing an executive-level office to inform his administration on ushering in a new era of financial regulation Â-- one that is much savvier about new technology and big data.

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Morning Scan: 'Gentler' Stress Tests?; Mortgage Trouble Brewing

11/16/16

Receiving Wide Coverage ...

Kid gloves: The Government Accountability Office released its review of the Federal Reserve's annual bank stress tests, which the Financial Times said "may pave the way towards gentler treatment" of banks. "The report recommended that the Fed share more information on the models it uses and its reasons for failing big banks, while working more closely with other agencies including the FDIC and the OCC." ...

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Scrutiny of Wells Fargo Will Now Shift to the Board

11/15/16

Following the regulatory orders against Wells Fargo and the resignation of its CEO, stockholders are likely to ask whether the board has responsibility and even liability for the bank's compliance failures.

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In re Trump Entertainment Resorts, Inc. in Retrospect

11/15/16

Today in bankruptcy I taught In re Trump Entertainment Resorts, Inc. (Bankr. D. Del. Feb. 20, 2015).  The case isn't in my casebook (although some might notice that I presciently included in the problem sets a recurring character named Ronald Grump, a real estate developer with frequent bankruptcy dealings), but I added it to my syllabus this fall because of the election connection.

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Innovation Will Stall Without a Regulatory Fintech 'Sandbox'

11/15/16

Refusing to let innovators experiment in a permissive environment keeps regulators in the dark, and ultimately, prevents progress in financial services.

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Creative Avoidance of Potential FDCPA Liability

11/15/16

     On May 19, 2015, Clark County Collection Services, LLC ("CCCS"), a Nevada debt collector, obtained a default judgment in Nevada Justice Court against Patricia Arellano on an assigned medical claim of $371.89. Two months later, on July 27, 2015, Arellano filed a class action in federal district court in Nevada, against CCCS and its lawyers, alleging FDCPA violations associated with the state debt collection action.

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How Fed Can Reform Itself to Preempt Trump-Inspired Overhaul

11/15/16

The Trump administration will not approach economic policy like the Federal Reserve does, but the central bank can still address its own problems before the new administration intervenes.

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Morning Scan: SEC Chair Leaving; GAO to Release Stress Test Review

11/15/16

Receiving Wide Coverage ...

White to leave: Securities and Exchange Commission Chairman Mary Jo White said she plans to step down in January at the end of the Obama administration, "opening the door to a new Republican-appointed leader who could move to loosen rules on Wall Street and curb the aggressive enforcement approach Ms. White prosecuted," in the words of the Wall Street Journal. White is the first major Obama appointee to announce a departure after...

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American Apparel Files Second Bankruptcy in Just Over a Year

11/15/16

Made-in-the-USA retailer American Apparel, LLC and its affiliated entities (“Debtors”) filed for Chapter 11 bankruptcy protection on Monday, Nov. 14th for the second time in just over a year, colloquially known as the “Chapter 22”.  The filing comes just about a year after the fashion retailer previously filed for bankruptcy, when the company exited court protection in early 2016 but quickly encountered trouble again.

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Preliminary Thoughts

11/14/16

On the new reality. Over at Dealb%k.

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