Bankruptcy Blogs

AML Scandals that Flew Under the Radar in '15

01/21/16

Money-laundering episodes included a purported Whitey Bulger associate looting a church's coffers and the arrest of a Houston socialite on gambling-related charges.

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Older Generations Use Digital Banking Too

01/21/16

Millennials may have initially been the primary target for digital banking services, but we must bust the myth that they're the only ones craving innovation.

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Morning Scan: Barclays Plans Job Cuts in U.S. to Reduce Expenses; Blockchain Test Results

01/21/16

Receiving Wide Coverage ...

Barclays Job Cuts: Barclays plans to cut about 1,000 jobs worldwide, according to the Wall Street Journal, or up to 1,200, the Financial Times said, as new CEO Jes Staley implements his turnaround plan. Some of the job cuts will be in the U.S., however most will come from Asia, including its businesses in cash equity research, sales and trading and convertible bond trading. Barclays will also exit Brazil, Russia, Taiwan and...

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Bankruptcy Judge Gives Bloombeg Time to Fight Molycorp Disclosures

01/21/16

Bloomberg LP won more time to mount a challenge to a judge’s order for dozens of bankruptcy professionals to disclose conversations with the company over rare-earths miner Molycorp Inc. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Why FASB Reserving Model Isn't as Bad as Banks Think

01/20/16

The Current Expected Loss Credit model will help to quantify bankers' intuition and can be built with readily available data.

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Remittance Market Bogged Down by Regulation, Cost

01/20/16

International money transfers have not enjoyed the improvements in transparency and cost that are benefiting other products. That must change to move the remittance market forward.

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Morning Scan: B of A's Cost-Cutting May Go Deeper; Wealth Management Weakness

01/20/16

Breaking News This Morning ...

Earnings: Goldman Sachs' fourth-quarter earnings fell on a $5 billion regulatory penalty. Wall Street Journal

Bank of America took a hacksaw to its expense base during the fourth quarter, slashing expenses by 2% from a year earlier, in part by firing employees, according to American Banker's report on its earnings. B of A may want to find a sharper blade. Much of the cost-cutting at B of A has come from its mortgage-servicing...

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Bloomberg Challenges Judge’s Order on Molycorp Disclosures

01/20/16

Bloomberg LP is contesting a judge’s order for dozens of bankruptcy professionals to make sworn statements over their conversations with the media company over rare-earths miner Molycorp Inc. The Wall Street Journal has the Daily Bankruptcy Review article here.

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