Bankruptcy Blogs

More millennials could become homeowners if banks educate them about private student loan refinancing options and programs that can help them obtain affordable mortgages.

Unsecured creditors of Lehman Brothers Holdings Inc.’s brokerage business will begin receiving their money back Wednesday, nearly six years after Lehman collapsed into bankruptcy and the brokerage was sold. The Wall Street Journal has the Daily Bankruptcy Review article here.

One of the competitors in the Great Mobile Payments Race is changing its name. Isis Wallet, a mobile payments joint venture of AT&T, Verizon, and T-Mobile is changing its name to Softcard for fairly obvious reasons. Isis Wallet operates by having the consumer store his/her payment card information on a "secure element"--tech speak for a tamper resistant chip that safely stores encrypted information.

A federal appeals court recently overturned two of multiple fraud counts against the former chief executive of a bankrupt Indiana investment firm after prosecutors didn’t back up the charges with evidence.

Timothy Durham, the former chief executive of Indiana’s Fair Finance Co., in 2012 was convicted and sentenced to 50 years in prison for his role in a fraud that cheated some 5,000 investors out of more than $200 million.

The best way to prevent the repo market from freezing up in a future crisis is to require broker-dealers to use Treasury securities as collateral.