Bankruptcy Blogs

Receiving Wide Coverage ...

Bank Payday Loan Update: Regulators officially unveiled on Thursday their expected guidance on the payday-style loans or checking account advances offered by a few financial institutions. The guidance, which calls for more underwriting and stringent cooling-off periods between loans, was issued along with "a scathing assessment of the loans" from the OCC, which "warned banks that the loans could pose 'reputational risk,'" reports Dealbook. But proponents of bank payday-style products have argued...

The Terminating Bailouts for Taxpayer Fairness Act adds more regulatory uncertainty to a financial sector that desperately needs clarity and direction.

By Adam McNeile

More than a decade ago, regulators nearly suffocated PayPal. Now it looks like they're trying to squelch another disruptive, innovative payments system.

Receiving Wide Coverage ... Brown-Vitter TBTF Bill: Sens. Sherrod Brown and David Vitter formally unveiled their TBTF bill - or the pointedly named Terminating Bailouts for Taxpayer Fairness Act - Wednesday. Key components include a 15% capital requirement for banks with more than $500 billion in assets. Regional banks would be required to meet an 8% capital requirement while community banks would be exempt from the proposal. The bill, if passed, would also impose restrictions on...