Bankruptcy Blogs

First Midwest to Buy NI Bancshares in Illinois

11/12/15

First Midwest Bancorp in Itasca, Ill., has agreed to buy NI Bancshares in Sycamore, Ill.

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Morning Scan: Apple Eyes P2P Payments; Bank Recruiting Lags

11/12/15

Receiving Wide Coverage ...

Apple Eyes P-2-P Payments: In a bid to claim a bigger stake in the payments industry, Apple has begun talks with banks to launch a peer-to-peer payment service. The service would target the market already enjoyed by PayPal's Venmo and Square's Square Cash, the Wall Street Journal reports. Venmo currently accounts for 19% of mobile person-to-person payments, facilitating $2.1 billion in mobile payments during the third quarter alone. As part of this...

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Justice Department Watchdog, Creditors Look to Delay Caesars Restructuring

11/12/15

A Justice Department watchdog and several creditors of Caesars Entertainment Operating Co. want to delay the casino unit’s restructuring. Read the Daily Bankruptcy Review article here.

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Watchdog Seeks More Cuts to Caesars Professional Fees

11/11/15
The Caesars Entertainment Corp.'s Caesars Palace hotel in Las Vegas
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Trusting Banks' Own Capital Models Can Be Dangerous

11/11/15

A lot is riding on the effectiveness of internal models to determine capital levels, but regulators still allow banks' methodology to be too opaque.

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Veterans Stuck in Debt Traps Need More than Lip Service

11/11/15

Our nation has a long way to go to protect those defending our homeland. Stopping the damage of high-cost credit is an important first step.

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Banks Too Slow to Modernize Core Systems

11/11/15

Legacy core systems make banks vulnerable to new competitors and risks. Modernization is underway, but many institutions are not moving fast enough. The risk of waiting too long is that it will take too long to catch up.

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Morning Scan: Minneapolis Fed Picks Ex-TARP Head as Chief, JPM Hackers Charged

11/11/15

Receiving Wide Coverage ...

Hackers Charged: Charges were announced against three hackers accused of stealing data from more than 100 million people in one of the biggest cybercrimes of all time. The three men reportedly were responsible for the big breach last year at J.P. Morgan Chase and other crimes involving computer networks in South Africa and Brazil, money laundering through Cyprus and illegal card payments processed in Azerbaijan, the Wall Street Journal reports. Two of...

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Drug-Testing Lab Millennium Enters Bankruptcy

11/11/15

Drug-testing laboratory Millennium Health LLC filed for chapter 11 protection a month after agreeing to settle allegations of billing the federal government for unnecessary tests.Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Longest Running Catholic Archdiocese Chapter 11 Case Finally Ends

11/10/15

The Archdiocese of Milwaukee filed its chapter 11 petition on January 4, 2011. Yesterday, four years and ten months later, Bankruptcy Judge Susan Kelley confirmed the dioceses' reorganization plan. During those four plus years, the most contentious issue regarded a $55 million trust fund established rather suspiciously prior to filing to care for a cemetery.

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