Bankruptcy Blogs

Job Cuts, Job Cuts and More Job Cuts; Is Lanny Breuer Leaving DOJ?

01/24/13

Receiving Wide Coverage ...

Cuts, Cuts … and More Cuts: Banks continue to downsize staff. According to three separate reports from the Financial Times, Commerzbank plans to cut between 4,000 and 6,000 jobs through 2016 in order to turn around its underperforming domestic retail business; UniCredit plans to cut 1,000 jobs at its German unit HvB by 2014 for similar reasons and Lloyds Banking Group is adding another 940 positions to previously announced job cuts set...

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We're a Long Way from Bedford Falls Banking

01/24/13

A recent BankThink post bemoans the one-size-fits-all application of Basel III. But the reason capital rules have become so sweeping is because banks have become bigger, more complex and more connected to the global economy.

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Inside the Foreclosure Reviews

01/24/13

Yves Smith has a pair of damning posts about the OCC foreclosure reviews (part I and part II).

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Battle of the Experts–What Happens To My Second Mortgage Now?

01/23/13

Here at Bankruptcy Law Network, we have posted extensively about how in a chapter 13 case a second mortgage can be “stripped”, that is, treated as an ordinary unsecured debt.  That is a powerful incentive to choose a chapter 13 if you can “strip” your second mortgage.

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Hardship and sacrifice, now at the Warwick Hotel

01/23/13

Periodically, I get emails from media relations firms on behalf of American Task Force Argentina, a somewhat hard-to-pin-down group organized, as best I can tell, to lobby the US government to pressure Argentina to pay holdouts like Elliott Associates.

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New Settlement Bodes Well for Howrey Creditors

01/23/13

A newly reached $159 million antitrust settlement is good news for creditors of defunct law firm Howrey LLP, whose former role in the case could entitle it to a share of the attorneys’ fees.

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QM Rule Shows Why the CFPB Should Be Abolished

01/23/13

Political denial and cover-up are in the CFPB's DNA. The agency was predestined to be overbearing, which will only hurt borrowers in the long run.

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Homeowners Association Liability After Chapter 7 Bankruptcy

01/23/13

I have received emails and phone calls from many of my recent Chapter 7 bankruptcy clients about their personal liability for homeowner association (“HOA”) dues. These former bankruptcy debtors are being told by their HOA that they owe past-due dues or that they have HOA liens on their property.

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End 'Too Big to Fail' by Making It Shareholders' Problem

01/23/13

Require megabanks to pay their stealth subsidies into a reserve available only to creditors and the FDIC. Market discipline will do the rest, as shareholders demand that the banks shrink.

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Many Young People Will Die in Debt, but Hopefully Not From Debt

01/23/13

I had a weird night’s sleep and then openned up my e-mail to find this headline from credit and collection news “Does The Consumer Bureau Harm Those It Claims to Protect? & Study Predicts Millions Will Die In Credit Card Red.” The immediate implication in my drowsy state was that the CFPB was somehow killing people. Wow.

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