Bankruptcy Blogs

Fed sounds alarm on commercial real estate, business bankruptcy

02/19/21

he Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.

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Credit unions across Texas dig out after historic winter storm

02/19/21

A severe cold snap in the state has tested financial institutions unaccustomed to such weather-related disruption.

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Does Delaware Get the Final Say?

02/19/21

I've been doing some reading on officer and director fiduciary duties to creditors, and I am surprised that how much the academic and practitioner consensus seems to have settled on the notion that, in light of the Delaware caselaw following Gheewalla, it is essentially impossible for creditors to bring a fiduciary action against a board.

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New leadership in place as CEO of Somerset Federal Credit Union retires

02/19/21

Joseph Lajoie has succeeded Pamela Mello, who stepped down last month after more than five years in charge.

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Fintech seeks ILC to be one-stop banking resource for startups

02/19/21

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.

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New OCC chief should encourage banks, fintechs to partner with CDFIs

02/19/21

Community development financial institutions would reach even more underserved households and business if they had strong relationships with tech firms and national banks. Here's how the Office of the Comptroller of the Currency can foster such partnerships.

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Yellen goes to bat for stimulus package; Fed governor warns on climate risks

02/19/21

The Treasury secretary says the economic crisis warrants the $1.9 trillion spending plan; Brainard says banks and other lenders need to prepare for events like the crisis in Texas.

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Synthetic IDs are key to solving fraud’s whack-a-mole game

02/19/21

Credit card and bank account fraud have soared during the pandemic, with fraudsters intercepting consumer data via retail and banking disruptions and worsening synthetic ID fraud.

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NRA Bankruptcy: Enter Kirkland?

02/18/21

The latest development in the NRA bankruptcy is the NRA's motion to retain Kirkland & Ellis as special counsel.  The retention seems to be for appellate issues, and the partner submitting the retention affidavit is an appellate specialist, not a bankruptcy lawyer. Yet this raises the question why Kirkland, which has long represented the NRA in various matters, is not the NRA's bankruptcy counsel. Kirkland has one of the top chapter 11 practices in the US.

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Stimulus, excess savings temper demand for personal loans

02/18/21

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

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