News Topic: Bankruptcy Blogs

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold ... Read full article

The report from the commission created to monitor the government's response to the pandemic comes as Congress begins negotiations over another round of stimulus. ... Read full article

Mark Weidemaier and Mitu Gulati As negotiations between the Argentine government and its creditors have gotten increasingly acrimonious, some have begun talking about litigation. Because Argentina’s bonds have collective action clauses, it can impose ... Read full article

The California company said Russell Colombo "is committed to remaining in the job as long as needed." ... Read full article

The White House's efforts to loosen equality requirements in lending run counter to the widespread demand for racial justice. Congress must act. ... Read full article

Trading revenues probably won’t be able to make up for looming credit losses going forward; consumer insolvencies have been held back so far by federal stimulus, which is set to expire. ... Read full article

Trump-appointed regulators gave the industry the green light to offer installment loans during the pandemic. But with concerns that the light could turn red in 2021, bankers remain extra cautious. ... Read full article

While rival banks reported increases in loans and deposits, thanks largely to their participation in the Paycheck Protection Program, State Street and Bank of New York Mellon saw their balance sheets shrink in the second quarter. ... Read full article

The Warsaw, N.Y., bank said it will close 10% of its branches and lay off 6% of its staff in response to customers’ growing preference for remote banking. ... Read full article

The Birmingham, Ala., company more than doubled its loan-loss provision from three months earlier and its chief financial officer said that more than half of its loans to oil and gas companies could eventually become criticized. ... Read full article

Wells Fargo buys $14B of delinquent mortgages tied to pandemic; CFPB launches investigation of Quicken Loans real estate affiliate Rocket Homes Real Estate; Truist accelerates cost-cutting plans; and more from this week’s most-read stories. ... Read full article

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use. ... Read full article

The Mississippi company said it decided to take aggressive measures to reduce its exposure to energy firms. ... Read full article

Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history. ... Read full article

If you are filing bankruptcy, Get Your Money Out of Wells Fargo. People filing bankruptcy get kicked when they are down, if they bank  at Wells Fargo. Wells Fargo sees your bankruptcy on your credit report and they freeze your checking and savings ... Read full article

Treasury Secretary Steven Mnuchin did not define "small," but advocates have been urging Congress to convert all Paycheck Protection Program loans of less than $150,000 into grants. ... Read full article

From affordable housing policy to GSE conservatorship, the next president will wield a heavy influence on mortgage and housing policies. ... Read full article

Some 3,400 additional staffers in the treasury management group will be required to get pre-clearance before making trades. The policy change was driven in part by increased regulatory scrutiny, the bank said. ... Read full article