Bankruptcy Blogs

Receiving Wide Coverage ...

TD Bank: CEO Ed Clark will retire next year and hand the reins to Bharat Masrani, who has overseen the Canadian bank's expansion in the U.S. over the last six years — a hint of where TD's growth ambitions lie. The story in today's Journal leads with an anecdote suggesting customer service has worsened at the former Commerce Bank operations since the Canucks took over "America's Most Convenient Bank." Somewhere, Vernon Hill...

Recent enforcement actions indicate banks must get better at evaluating the risks associated with their third-party service providers.

Hot of the presses that the EOUST has (again) suspended its "required" debtor audits due to budgetary constraints.  Initially they were supposed to do 1 in every 250, and that number fell in recent years to one in every 1,500 or so due to constraints, and sometimes they just run out of money toward the end of the fiscal year.  This is the most precocious suspension I'm aware of.  (But it sounds like such a great idea on paper...)

The record shows that regulators and prosecutors have charged bank D&Os and other employees in ways that affect their personal net worth and freedom.