Bankruptcy Blogs

It’s Time to (Carefully) Secure that Guaranty

03/08/21

The 2021 increase to California’s homestead exemption to up to $600,000 stands to change the legal and economic relationship of guarantors with their lenders and vendors who make loans or sell goods or services on credit. Before examining this important change in California’s homestead exemption and its effect on guaranties, some perspective is needed on guaranties themselves.

[more]

ValleyStar names interim leader after CEO takes new position in Fla.

03/08/21

The Virginia-based credit union has appointed Executive Vice President Lisa Lambrecht as a temporary successor to former President and CEO Delbert Lee Morgan, following his move to Pen Air FCU.

[more]

The Haitian Independence Debt

03/08/21

The Haitian Independence Debt of 1825 is perhaps the most odious in the history of sovereign debt. France agreed to grant recognition to the Haitian state in exchange for a massive indemnity payment, ostensibly intended to compensate French plantation owners for losses suffered during Haitian revolution. With French gunboats lurking in port and offshore, the French imposed a massive and unpayable debt burden equal to roughly 5 times the annual French budget.

[more]

Goldman weighs plan for $29 billion of debt set to outlive Libor

03/08/21

Goldman Sachs is evaluating what to do with about $29 billion of debt and preferred stock it issued that’s pegged to dollar Libor and doesn’t mature until after the discredited benchmark expires in mid-2023.

[more]

FDIC chair hopes regulators will 'come together' on CRA reform: Report

03/08/21

The comments by Federal Deposit Insurance Corp. Chair Jelena McWilliams published in Politico reinforce optimism that the banking agencies could settle years of disagreement about modernizing the Community Reinvestment Act.

[more]

Pandemic has redefined role of bankers: New ICBA chair

03/08/21

“We were already shifting to recruiting more problem solvers than people handling transactions,” said Robert Fisher, CEO of Tioga State Bank in New York and incoming chairman of the Independent Community Bankers of America. “That pace of change has accelerated.”

[more]

Week ahead: Credit unions on watch as lawmakers wrap more COVID relief

03/08/21

The industry saw deposits rise by nearly 20% last year, in part due to economic stimulus measures from the government. More of the same could be coming once President Biden signs the latest stimulus bill into law.

[more]

Berkshire Hills reaches truce with activist investor

03/08/21

HoldCo Asset Management, which gains two board seats from a standstill agreement, had expressed disappointment that the Boston company hired a CEO instead of pursuing a sale.

[more]

Fed will continue supporting PPP loans until June 30

03/08/21

Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.

[more]

PayPal to acquire Curv to further its push into cryptocurrencies

03/08/21

PayPal Holdings Inc. said it will acquire the cryptocurrency firm Curv as it seeks to beef up its talent pool for handling digital currencies.

[more]