Bankruptcy Blogs

Control Testing: Moving from Satisfactory to Strong

12/18/13

Why banks should strive to bridge the gap between audit teams and business lines with better information sharing, high-powered data analytics and business risk assessments.

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CFTC Proposal for High-Speed Trading May Drive Business Offshore

12/18/13

If compliance burden sends traders packing for Russia, Brazil or Mexico, the U.S. would lose not only investment capital but also the ability to monitor algorithmic trading for manipulative practices.

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Isn't Consent for Suckers?

12/18/13

As I wrestle with the EBIA v.

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The Daily Docket: Centerbridge Backs Out of LightSquared Deal

12/18/13

Private-equity firm Centerbridge Partners LP backed out of a deal to acquire LightSquared amid uncertainty over when federal regulators would clear the way for the company to build out its wireless network, The Wall Street Journal reports.

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The Daily Docket: Centerbridge Backs Out of LightSquared Deal

12/18/13

Private-equity firm Centerbridge Partners LP backed out of a deal to acquire LightSquared amid uncertainty over when federal regulators would clear the way for the company to build out its wireless network, The Wall Street Journal reports.

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Hippocratic Oath for Regulatory Guidance Needed

12/18/13

What we have seen from the bank regulatory agencies is an unsustainable proliferation of rules. Big banks are taking on water to keep up, while community banks are being swamped.

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JPM Sues FDIC; Another AG Sues JPM

12/18/13

Receiving Wide Coverage ... JPM Lawsuits, Etc.: JPMorgan Chase sued the Federal Deposit Insurance Corp. on Tuesday for over $1 billion, alleging that the regulator did not honor its obligation to cover legal claims against Washington Mutual. JPM, of course, acquired WaMu in a hastily drawn-up deal at the height of the financial crisis. (We're saying "hastily drawn-up" here, since the agreement apparently lacks specifics over who exactly is liable for what.) JPM is not seekingÂ...

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How Risky Is It to Make a Non-QM Mortgage? And Is QM Going to Hold Back Access to Credit?

12/18/13

        One of the huge questions hanging over the mortgage market today is what will happen to access to credit for credit impaired or non-traditional borrowers.  There is a real concern that the Dodd-Frank Act’s mortgage reforms will reduce the availability of mortgage credit because lenders’ fear liability for making mortgage loans that fail to qualify as “Qualified Mortgages” (QM) and are thus potentially subject to an Ability-to-Repay (ATR) defense.

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Bankruptcy Judges Peck and Gropper to Retire

12/17/13

The U.S. Bankruptcy Court in Manhattan is losing two veteran judges to retirement next year.

Judge James Peck, who presided over the historic Lehman Brothers Chapter 11, will retire at the end of next month, and Kodak Judge Allan L. Gropper will step down next fall, according to a press release issued by the bankruptcy court clerk for the Southern District of New York.

“They will be missed,” said Chief Bankruptcy Judge Cecelia G. Morris in the release. “Their influence will continue through their well-reasoned written opinions.”

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Bankruptcy Judges Peck and Gropper to Retire

12/17/13

The U.S. Bankruptcy Court in Manhattan is losing two veteran judges to retirement next year.

Judge James Peck, who presided over the historic Lehman Brothers Chapter 11, will retire at the end of next month, and Kodak Judge Allan L. Gropper will step down next fall, according to a press release issued by the bankruptcy court clerk for the Southern District of New York.

“They will be missed,” said Chief Bankruptcy Judge Cecelia G. Morris in the release. “Their influence will continue through their well-reasoned written opinions.”

[more]