Bankruptcy Blogs

Restructuring Support Agreements and the "Proceduralist Inversion"

12/07/20

I'm usually fussing about bank regulation issues here on the Slips, but I do try to make time for my first love, business bankruptcy. Ted Janger and I have a short piece about restructuring support agreements out in the Yale Law Journal's on-line supplement. It's a response to David Skeel's excellent article about RSAs.

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Figure's National Banking Charter Application: Illegal and Bad Policy

12/07/20

It's not every day that I write a letter in opposition to the issuance of a bank charter. But that's what I just did. Here is my comment letter to the Office of the Comptroller of the Currency in opposition to the charter application for Figure, which is seeking to operate an uninsured national bank.

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In Georgia Senate runoffs, banks go all in for Republicans

12/06/20

Banking trade organizations are usually cautious about making endorsements. But with Democrats winning the White House and control of Congress on the line in the two races, some groups are pouring in cash for the GOP candidates.

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Purdue's Poison Pill and the Broken Chapter 11 System

12/06/20

Jonathan Lipson and Gerald Posner have an important op-ed about the Purdue bankruptcy in the NYT and how the DOJ settlement with Purdue is likely to benefit the Sacklers. What's going on in Purdue is troubling, but not just for its own facts. Purdue illustrates a fundamental breakdown of the checks and balances in the corporate bankruptcy system.

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Chapter 7 Trustee Jason Gold

12/05/20

Chapter 7 Trustee Jason Gold Jason Gold is one of the four Chapter 7 trustees in the Alexandria Virginia Bankruptcy court. When you file a bankruptcy case in Alexandria, the computer assigns you to one of the four trustees.   Being a Chapter 7 Trustee is a part time job for lawyers. Gold is a partner […]

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LendUp overcharged military borrowers, CFPB says in lawsuit

12/04/20

The Consumer Financial Protection Bureau alleges that the online lender made loans that exceeded a federal cap on interest rates for active-duty service members.

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PNC's tech plans, PPP questionnaire, HSBC's branch appeal: Top stories of the week

12/04/20

What PNC has in mind for BBVA's technology; banks and borrowers bristle at SBA questionnaire on large PPP loans; a look at who might be buying if HSBC decides to sell its branches; and more from this week's most-read stories.

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Digital mortgage firm Beeline hiring, adding new technology

12/04/20

The company aims to help borrowers apply for home loans in as little as 15 minutes by automating immediate validation of bank information used in qualification.

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Treasury Department FCU gets field-of-membership expansion

12/04/20

The Washington, D.C.-based institution could see its membership grow by as much as 72% now that federal regulators have approved the move.

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Visa-Plaid deal highlights need for more scrutiny of M&A

12/04/20

The incoming Biden administration must take steps to block mergers that could create monopolies, such as Visa's pending acquisition of a competitor.

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