Bankruptcy Blogs

Wall Street Journal

Now, not everyone can join. In response to complaints credit unions have expanded beyond their original mission to serve specific population groups, the top regulator of federal credit unions approved new rules limiting CU membership qualifications. Credit unions will no longer be allowed to set up charities and other associations, under their so-called Field of Membership rules, for the sole purpose of attracting new members. The National Credit Union Administration approved the rules...

The compliance costs associated with the CFPB's proposed reforms to the payday lending would force many small businesses to close shop, reducing access to short-term credit for many Americans.

Wall Street Journal

Over the past couple of years, federal officials have extracted billions of dollars from banks for mortgage-related issues and other various misdeeds. Now it appears banks may be fighting back a little bit harder, at least in the area of probes into alleged bribing of foreign officials. Unnamed sources say JPMorgan Chase is defending itself against the U.S. government's probe into whether it bribed foreign officials in China by giving jobs to "relatives...

Harvey Miller may be the best bankruptcy practitioner of the last 50 years.  He died this week and the world is a lesser place without him.

Miller was the all-star bankruptcy attorney in many of the most important bankruptcies and workouts during our lifetimes.  And although I do not work in corporate bankruptcy, he had a critical impact on my career path for which I will be eternally grateful.

A year into one