Bankruptcy Blogs

Wall Street Journal

Time to crack down on the tellers. Banks were advised to limit tellers' access to customer data and also do more to detect signs of misbehavior. New York Attorney General Eric Schneiderman sent that advice to banks in a letter on Friday; the AG's office has been investigating tellers for stealing customer data and money, an unnamed source said. In one case, a group of tellers and outside accomplices stole $850,000 using customers'...

This week on The Broke and the Beautiful, former baseball great Mike Piazza is interested in buying Parma, and film studio Relativity Media is doing some refinancing. Also, Teresa Giudice made her first tweet from prison.

Same-day payments will be a big improvement for business-to-business transactions, but banks are still bound to lose market share to technology firms that are taking the complexity out of the payments process.

Wall Street Journal

A few details have leaked out (all from unnamed sources) concerning the upcoming settlements between the Justice Department, state attorneys general and banks over the sale of mortgage-backed securities in the run-up to the financial crisis. The Journal said up to nine banks are about to finalize the details of their settlement agreements. Goldman Sachs and Morgan Stanley could settle their cases as early as late June. Others expected to reach settlements in...

Facebook's new Instant Article service for publications underscores the competitive threat that the site's business model poses to banks. There's one particular feature that should have banks worried: because Facebook's primary interest is ad income, product pricing is of secondary importance.