Bankruptcy Blogs

CFPB Issues Compliance Bulletin On Confidentiality of Supervisory Information

03/23/15

On January 27, 2015, the Consumer Financial Protection Bureau (“CFPB”) issued a compliance bulletin reminding supervised financial institutions (including large depository institutions, credit unions and their affiliates, certain nonbanks, and service providers) of existing regulatory requirements regarding confidential supervisory information.  In this article we (i) explain the definition of confidential supervisory information; (ii) discuss exceptions to the non-disclosure rule; and (iii) offer tips for ensuring compliance.

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Why Social Media Is Worth the Compliance Headaches

03/23/15

An employee's careless Tweet or Facebook status update can pose big risks to financial firms, but social media is still a necessary tool for engaging with younger customers.

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'Think Like a Venture Capitalist': Tips for Banks in the Digital Age

03/23/15

Banks will only be able to compete with nimble digital startups if they invest in a diverse portfolio of fintech initiatives and avoid foisting traditional, buttoned-down cultures onto fledgling partners.

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The Daily Docket: RadioShack Auction Kicks Off

03/23/15
Sale signs are displayed as customers browse inside a RadioShack Corp.
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Morning Scan: Would More Skin in the Game Make Banks Safer?

03/23/15

Wall Street Journal

Zions Bancorp is a comparatively small and simple fish in the "too big to fail" pond, but it's among the banks that's struggled most with the Federal Reserve's stress tests. The paper implies that Zions' predicament may be indicative of the problems with the $50-billion asset threshold used to determine which institutions are systemically important. The Salt Lake City lender focuses on "meat and potatoes banking," like lending and taking deposits, whereas most...

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Can the landlord apply the tenant’s security deposit to the landlord’s claims?

03/23/15

Security deposits are considered property of the bankruptcy estate, and as such, are generally required to be returned to the debtor.  Even so,  landlords are permitted in certain instances to setoff their rejection damage claim against the security deposit.  This benefits a landlord for two reasons.  First, instead of returning the deposit to the debtor-tenant, a landlord can setoff its claim against the deposit, and thus reduce the amount of the deposit that must be returned.  Second,  the landlord’s rejection damage claim is a general unsecured claim, meaning it gets paid after all other

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U.S. Supreme Court to Hear Chapter 7 Junior Mortgage “Lien Strip” Case

03/22/15

mortgageOn March 24, 2015, the U.S. Supreme Court will hear oral arguments in two cases involving whether a chapter 7 debtor may strip off a second (or any junior) mortgage that is not secured by the home’s actual market value.

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Two Financial Firms that Cracked the Code on Culture: Weekly Wrap

03/20/15

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the best way to instill ethical culture and what the U.S. can learn from foreign countries' efforts to reach the unbanked.

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Italian Soccer Team Parma Declared Bankrupt

03/20/15

This week on The Broke and the Beautiful, Italy’s Parma soccer team went bust, Tower Records lives on in a new documentary, and Caesars can tear up its contract with the Kansas City Chiefs.

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Public CRA Benchmarks Would Boost Transparency in Bank Mergers

03/20/15

Not only should regulators investigate the timing of OneWest's charitable donations to supporters of its proposed merger with CIT Group, they should encourage both banks to adopt clear CRA benchmarks that would hold them accountable for future investments in local communities.

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