Bankruptcy Blogs

How 2008 Lending Shutdown May Explain Today's Growth

09/12/16

While troubling factors such as higher risk profiles may be behind the recent lending boom, the industry could also just be returning to the historical average for loan growth following the "Great Panic" of 2008-2010.

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New Emirates Personal Bankruptcy Law to Exclude Consumers

09/12/16

The government of the United Arab Emirates has announced that it is working on a personal insolvency law (to accompany an imminently forthcoming business restructuring law). That's the good news.

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Morning Scan: Wells Not Clear Yet; Both Sides of Blockchain

09/12/16

Receiving Wide Coverage ...

It ain't over...: Wells Fargo's settlement last week didn't end its woes. While the bank was making apologies, officials were assessing the situation. Sen. Jeff Merkley, D-Ore., a member of the Senate Banking Committee, called on the panel to hold hearings to find out exactly what happened. A member of the Federal Reserve Board also weighed in. "What I have seen is that too many banks, instead of putting in place a...

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'Revolutionary' Smart Contracts Automate Trust

09/09/16

There is a compelling case for business parties to use smart contract technology in the future to complete binding legal contracts.

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Denial Of Chapter 13 Discharge for Potential Future Debts.

09/09/16

One hard and fast rule in Bankruptcy is that debts and claims are “set in stone” as of the petition date, or perhaps post-petition if added to the Chapter 13 plan.  Bankruptcy Courts and Trustees do not normally police potential debts that may come up later.  There are some exceptions to the general rule, and a Texas Bankruptcy Court addressed one of them recently.

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CECL Will Inflate Credit Booms and Worsen Downturns

09/09/16

The Financial Accounting Standards Board's accounting rules for credit risk have good intentions, but a likely amplification of the ups and downs of the credit market was probably not one of them.

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Morning Scan: B of A Deal on Bonuses; What's the Goal?

09/09/16

Receiving Wide Coverage ...

Incentive to cheat?: Wells Fargo was hit with the largest penalty in the history of the Consumer Financial Protection Bureau to settle charges that thousands of employees created unauthorized bank and credit card accounts for customers in order to collect bonuses for themselves. The company fired 5,300 employees as a result. The bank agreed to pay a $185 million regulatory enforcement action plus another $5 million in customer remediation. Wells' own analysis...

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The Mortgage Bank of the Future Can't Survive on Mortgages Alone

09/08/16

Within five years, a dramatic transformation of the mortgage market will force firms to expand product menus beyond mortgages to develop stronger relationships with their customers.

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Women in Banking: Is Big Data a Weapon of Mass Discrimination?

09/08/16

A likely sale of CIT Group's aircraft unit (and a whole lot of other stuff) is keeping Ellen Alemany busy, a former Wall Street banker talks about big data as a financial weapon of mass discrimination targeting women and the poor, and First Busey shows how investing in employees pays off. Also, TIAA's Kathie Andrade, Deloitte's Cathy Engelbert and (to spice things up) Victoria Beckham.

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