Bankruptcy Blogs

Backstreet Boys Settle Bankruptcy Claims

10/23/14
The Backstreet Boys perform during a concert at the City Hall in Vienna on July 15.
European Pressphoto Agency

The Backstreet Boys’ bankruptcy battle is

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Can Banks' Volcker Metrics Be Trusted?

10/23/14

The Volcker Rule's data-intensive requirements are creating headaches for banks that still rely on manual processes and use multiple, disparate systems for securities and different derivatives trading.

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The Daily Docket: Moody’s Shows Default Loss Analysis Is Predictive

10/23/14

Debt holder losses on defaulted debt were in line with Moody’s Investor Service predictions, a new analysis of hundreds of bankruptcies by the credit ratings agency showed. Read the Daily Bankruptcy Review article here.

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Morning Scan: New Mortgage Rules Approved; JPMorgan's China Hiring

10/23/14

Receiving Wide Coverage ...

New Mortgage Rules: Two Republicans on the Securities and Exchange Commission objected to relaxed mortgage rules, but the SEC approved the new rules regardless on Wednesday, as did the Federal Reserve and the Department of Housing and Urban Development. "Today's rule-making takes the untenable housing policy that injected irrational exuberance into mortgage lending and, as a result, caused a catastrophic financial crisis and chisels that failed policy into the stone tablets of...

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Credit Risk Retention Rules and QRM

10/22/14
The long awaited credit risk retention rules for securitization are out. The big question--whether the qualified residential mortgage or QRM exemption would be narrower than the CFPB's qualified mortgage or QM safe harbor to the Ability to Repay requirement for mortgages is no. QRM=QM. The short version is that the rule doesn't require meaningful credit risk retention where it counts, and imposes significant market-shaping safe-harbor requirements where skin in the game isn't so important.
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Are You Sure That's Your Testimony?

10/22/14

Yves Smith has had some great coverage of the AIG bailout trail over on Naked Capitalism.  While the litigation, as Yves has characterized it, is a bit like a brawl between the ugly stepsisters, it's telling us all kinds of stuff we didn't know (or at least couldn't document) about the 2008-09 bailouts.   

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Federal Court Limits Tribe’s, Secretary’s Options When State Balks at Gaming Compact

10/22/14

A federal district court in New Mexico has issued a decision finding that the U.S.  Department of the Interior’s regulations permitting the Secretary of the Interior to adopt Class III gaming procedures for a tribe lacking a Tribal-State Compact are invalid and violate the Indian Gaming Regulatory Act, 25 U.S.C. §§ 2701 et. seq. (“IGRA”).  If upheld, the decision in New Mexico v. Dept.

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How Apple Pay Threatens Retailer and Bank Brands

10/22/14

Apple Pay is a watershed moment that will do more to stimulate mobile commerce than the sum of all previous efforts. But it also has an impact on branding that should make it part of a broader mobile menu for banks and retailers.

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It's Time to End 'Exclusionary Lending'

10/22/14

Some banks try to justify tight underwriting standards by arguing that borrowers with lower credit scores and those who can only afford lower down payments are more likely to default. But the research supporting this argument is based on outdated analysis of high-cost, risky loans.

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The Daily Docket: GT Advanced Signs Deal With Apple for ‘Amicable’ Split

10/22/14
The new Apple Watch is pictured during an Apple event at the Flint Center for the Performing Arts in Cupertino, Calif., in this file picture taken Sept.
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