Bankruptcy Blogs

A trip to London reveals how far ahead British and other European regulators are in streamlining the licensing process for payments providers and other fintech firms.

A bankruptcy judge last week rejected San Bernardino, Calif.’s plan to leave chapter 9 bankruptcy. The plan proposes to repay a fraction of the city’s debt instead of raising taxes. The Wall Street Journal has the Daily Bankruptcy Review article here.

Editor's note: Morning Scan will publish next on Jan. 4, 2016. Happy holidays and happy new year from all of us at American Banker and SourceMedia. Wall Street Journal

Christmas came early for foreign banks this year, thanks to the Federal Reserve. This year, units of foreign banks raked in around $6.25 billion in interest on the reserves they store with the central bank. Because of the Fed rate hike, these interest payments will double. The prospective...

Wall Street Journal

New rules for mortgage closings helped squash sales of previously owned homes in November, according to the National Association of Realtors. Existing-home sales fell 10.5% last month to a seasonally adjusted annualized rate of 4.76 million, the Realtors said. That's less than the 5.32 million predicted by economists. ...