Bankruptcy Blogs

Morning Scan: Promontory Settles; BB&T Snaps Up Another Bank

08/19/15

Receiving Wide Coverage ...

Let's Make a Deal: Promontory Financial Group won't be locking horns with New York's financial watchdog in court after all. Promontory on Tuesday agreed to a $15 million settlement with the New York Department of Financial Services and a six-month ban from taking on some new consulting engagements in New York state. The deal resolves allegations that Promontory whitewashed a report on Standard Chartered's sanctions violations and puts a concrete end to...

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Patriot Coal Approved to Poll Creditors on Chapter 11 Plan

08/19/15

Patriot Coal Corp. will soon be able to poll creditors on its chapter 11 bankruptcy plan, Daily Bankruptcy Review reports.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

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CFPB Data Collection

08/18/15

I've got an op-ed in the American Banker about the CFPB's data collection, which has become the latest inside-the-Beltway attack on the CFPB.  

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Fear and Loathing in Fintech Vendor Land

08/18/15

FIS and merger partner SunGard, along with all other vendors in the space, have not been able to come to market with innovative core systems or software platforms that adequately address the new digital paradigm banks face.

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The CFPB's Data Collection Is to Be Applauded

08/18/15

Critics of the Consumer Financial Protection Bureau's data collection haven't bothered to learn the basic facts about the data the regulator collects before veering off into black helicopter paranoia.

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Morning Scan: Dallas Fed's New Head; Greenspan vs. Dodd-Frank

08/18/15

A New Head in the Fed: The new president of the Dallas Federal Reserve is something of a mystery man. Robert Steven Kaplan's background as a former Goldman Sachs executive and management professor at Harvard Business School is well known; what's less clear are his views on monetary policy. This enigma is exciting a lot of interest among observers, since Kaplan will be highly influential as a member of the Fed's policy-setting committee when hisÂ...

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Remaining Patriot Coal Mines to Be Sold

08/18/15

Patriot Coal Corp. reached a new deal to sell two West Virginia mines that will relieve it of $400 million in debt.Read the Daily Bankruptcy Review article via The Wall Street Journal.

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Community Banks Can Ride Out CEO Pay Rule

08/17/15

The SEC's new rule requiring companies to disclose the relationship between CEO pay and that of the median employee may be a headache for big banks. But smaller financial institutions should have an easier time calculating the pay ratios, and the numbers are unlikely to attract much scrutiny.

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Case Closed without Discharge Creates Big Problem for Chapter 7 Debtor

08/17/15

bankruptcy case closed without dischargeDo you have an order of discharge following the completion of your Chapter 7 or Chapter 13 case? If not, you may want to fix this problem now before it bites you later.

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Marketplace Lenders Are a Systemic Risk

08/17/15

While marketplace lenders have introduced valuable innovation into financial services, they carry a fundamental flaw that threatens to undermine their business, destabilize financial markets and cause real economic hardship.

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