Bankruptcy Blogs

Morning Scan: Citi Consumer Chief Plans to Leave As New Banamex Scandal Breaks

10/15/14

Receiving Wide Coverage ...

Big Changes at Citi: Citigroup probably won't want to include this week in its highlights reel. Its Mexican unit, Banamex, is embroiled in another scandal; not unrelatedly, reports are circulating that Manuel Medina-Mora, the bank's head of consumer banking and chairman of Banamex, is planning to step down; and in a separate decision, the so-called "everywhere bank" is shutting down businesses in 11 countries, including El Salvador, Japan and Egypt. The Times...

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Unseal the Doomsday Book!

10/14/14

When I first heard about the NY Fed's Doomsday book, my initial thought was, "Wow, they've got a comprehensive survey of land titles, so MERS really isn't an issue!" Then I realized it was a Doomsday book, not a Domesday book. Apparently the Doomsday book is some sort of "in case of emergency" do-it-yourself bailouts manual that outlines the steps the NY Fed believes it can legally take to stave off economic Armageddon. 

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A Crowd at Crumbs’ Reopening, But Not Everyone Is a Customer

10/14/14
An employee assists customers ordering baked goods during the reopening of a Crumbs Bake Shop Inc.
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Same-Day ACH and the Future of Faster Payments

10/14/14

Real-time payments would undoubtedly benefit some consumers and companies, but same-day payments can address many current needs. To that end, Nacha is working on a phased-in approach to implementing multiple same-day settlement windows.

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Financial Regulators Should Listen to Bill Gates on Mobile Money

10/14/14

A risk-based approach to anti-money laundering rules would allow regulators to be sure mobile transactions are being screened for suspicious activity without hindering the technology's potential to do social good.

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Regulators Should Take a Holistic View of Risk

10/14/14

Before regulators require the country's largest banks to take on more burdensome regulations, they need to reconsider the parameters used to assess the threat of systemic risk.

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The Daily Docket: Energy Future Bid Rules Draw Criticism

10/14/14

Energy Future Holdings Corp. creditors have taken issue with the company’s proposal to auction its stake in Oncor, with some demanding greater access to the process and others questioning whether the sale is necessary at all. Read the Daily Bankruptcy Review article here.

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Morning Scan: JPM Earnings Leak; Regulation Guru Wins Nobel

10/14/14

Breaking News This Morning ...

Earnings: JPM, Citigroup, Wells Fargo Receiving Wide Coverage ...

Early Bird Gets the Earnings Attention: JPMorgan Chase showed a $5.57 billion profit in its third quarter, but whether that's a victory or a disappointment depends on your preferred news source. The Journal's upbeat report emphasizes the bank's return to profitability after "a year-earlier period weighed down by massive legal charges." The Financial Times, on the other hand, leads by noting JPMorgan's net income...

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The Daily Docket: Endeavor International Enters Bankruptcy

10/13/14

Endeavour International Corp., a Houston-based oil and gas company, filed for bankruptcy protection late Friday night as part of a debt-for-equity swap with bondholders that will slash about $568 million in debt off the company’s books, Daily Bankruptcy Review reports in The Wall Street Journal.

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