Bankruptcy Blogs

More Cooperation Is Necessary to Fight Payments Crime

02/12/15

This week's White House Summit on cybersecurity at Stanford University comes at a pivotal time for payment and security professionals, which have an opportunity to cooperate to fight Internet crime.

[more]

Morning Scan: B of A Tapped Retail Unit for Risky Trades; Disclosures 'Useless'

02/12/15

Wall Street Journal

Bank of America used federally insured retail deposits to finance risky trades by its European investment banking unit, the paper reports. The bank says it no longer engages in the practice, which is aimed at helping hedge funds and other clients avoid taxes. Regulators had previously questioned Bank of America about the reputational and legal risks associated with dividend arbitrage, and now a bank employee has made whistleblower submissions to the Securities and...

[more]

James Garrity Coming Back to New York Bankruptcy Bench

02/12/15
James Garrity

James L. Garrity Jr. is returning to the New York bankruptcy bench after more than a 15-year hiatus, the court said Wednesday.

[more]

Puerto Rico's Municipalities

02/11/15

As previously predicted, and in light of recent events, legislation has been reintroduced to allow Puerto Rico's municipalities into chapter 9.

[more]

The Right Way to Take Measure of TBTF

02/11/15

Outcries about regulators' negligence in ending too big to fail ignore a number of major developments since the financial crisis, including the new orderly liquidation authority and the overhaul of the regulatory capital framework.

[more]

The Daily Docket: Revel Moves to Scrap Sale

02/11/15
Associated Press

Revel Casino Hotel on Tuesday sought to terminate a $95.4 million deal to sell the Atlantic City, N.J., boardwalk resort to Florida developer Glenn Straub.

[more]

CFPB Student Scorecard Offers Much-Needed Reforms

02/11/15

Many colleges partner with banks to offer students special accounts. Unfortunately, the benefits of these accounts are grossly overstated and can even cause harm.

[more]

Morning Scan: Fed Tries to Bond with GOP; Do Felony Pleas Still Scare Banks?

02/11/15

Receiving Wide Coverage ...

Fed Up: The audit the Fed bill has made a comeback in the new Republican-controlled Congress, but it's still got plenty of detractors. The New York Times' Neil Irwin argues the Fed is already pretty darn transparent and well-audited, especially compared to other government institutions. "When people say they want to audit the Fed, what they really mean is 'The Fed is doing things I disagree with,'" he writes. The Wall Street...

[more]

Beware Judgments

02/10/15

Do you know what it means to have a judgment entered against you?  Judgments arise from lawsuits – often collection lawsuits – and they happen when a state court judge decides in favor of the other party.

[more]