Bankruptcy Blogs

Card brands delay spring swipe-fee update to July, citing coronavirus' effect on retail

03/30/20

With coronavirus presenting significant challenges for retailers and the technical challenges of imposing interchange fee changes in the networks, Visa, Mastercard, American Express and Discover are holding off on the updates.

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BNY Mellon names Todd Gibbons its permanent CEO

03/30/20

Gibbons had been in the position on an interim basis since September, when his predecessor, Charlie Scharf, left to become CEO of Wells Fargo.

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Wall Street quietly telling companies not to draw their loans

03/30/20

Some corporations are willing to oblige, turning instead to new, pricier term loans or revolving credit lines rather than tapping existing ones, industry officials say.

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As offices empty out, CRE picture looks bleak

03/30/20

Commercial real estate is facing another crisis as companies shift to work-from-home policies. Banks and regulators should brace themselves.

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North Carolina investment group buying Tennessee bank

03/30/20

The acquirer had pursued a de novo strategy in its home state but was unable to raise enough capital.

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Lenders tighten underwriting standards; coronavirus death on Wall Street

03/30/20

Banks and fintechs are not taking undue risks in lending to new customers; Jefferies CFO Peg Broadbent succumbs to the disease at age 56.

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Is mortgage industry equipped to implement Washington's forbearance plan?

03/29/20

Homeowners reeling from coronavirus-induced economic shock are already enduring extremely long wait times while trying to get relief. Legislation passed last week could worsen the logjams.

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How to Treat Post-Petition Attorneys' Fees

03/29/20

This is a hyper-technical bankruptcy question that's been bothering me for a while: what happens with post-petition attorneys' fees for undersecured/unsecured creditors after the Supreme Court's 2007 decision in Travellers v. PG&E? Specifically, assuming that the post-petition attorneys' fees fees are allowed as an unsecured claim, are they credited against a collateral cushion before or after post-petition interest?  

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PSLF in the time of Coronavirus

03/29/20

The rules for student loan borrowers hoping for Public Service Loan Forgiveness are changing rapidly, and information even on Education Department and CFPB web sites is confusing and rapidly outdated. The CARES Act, section 3513, signed into law on March 27, requires the Secretary of Education to “suspend all payments due” for federally-held student loans until September 30.

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Required fine print notices

03/28/20

I’m required to give you three legal disclosures Now that most consultations are by phone and zoom, I’m posting these on my webpage.  The first disclosure This first disclosure tell you that you have four choices under the bankruptcy law. Chapter 12 is only for farmers, and fisherman. I’ve never done a farmer Chapter 11 […]

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