Bankruptcy Blogs

Receiving Wide Coverage ... Regulatory Overreach? Some bank regulators are plunging the depths of the financial system to determine whether they can add on to the steep fine facing BNP Paribas, which has been charged with processing payments for companies and countries sanctioned by the United States. The Times points to rumors that Benjamin Lawsky, New York's Department of Financial Services, is considering a temporary suspension on BNP Paribas' dollar clearing. "The fact that regulators areÂ...

A proposed bill would allow banks to receive a one-time tax credit for charged-off consumer debt. Banks would then donate the debt to non-profits dedicated to helping consumers repay their loans without resorting to litigation or charging interest.

Receiving Wide Coverage ...

Up in Arms: French leaders are incensed over demands by U.S. authorities that BNP Paribas pay $10 billion to end a criminal probe of its alleged evading of sanctions by doing business with Sudan and other U.S.-blacklisted nations, the Wall Street Journal, New York Times and Financial Times all reported. "The penalty must be proportional and reasonable," French Foreign Minister Laurent Fabius was quoted as saying on Tuesday. "These figures are not...

Energy Future Holdings Corp.’s proposal to get out from under a claimed $1.3 billion premium payment to bondholders has two bond trustees crying foul. Read the Daily Bankruptcy Review article here.

Banks that drive customers away with pre-recession practices should clean up their act or get ready for competitors to use their missteps against them.