Bankruptcy Blogs

Watchdog urges Fed to extend more virus aid to states, small firms

07/20/20

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.

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Bank of the West launches eco-friendly checking account

07/20/20

The new consumer deposit product will provide customers a snapshot of the carbon impact of their purchases and offer other incentives to entice the environmentally conscious.

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Small-business bankruptcy program adds new risk to home equity loans

07/20/20

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 the loans.

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Some Confusion About Argentina’s Power to Reverse an Acceleration

07/20/20

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 restructuring terms on dissenting creditors as long as it has the support of a supermajority. Even if it doesn’t have supermajority support to do the cram down, it still has weapons.

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Trump’s attempt to weaken fair housing rules is beyond tone deaf

07/20/20

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

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Bank of Marin suspends search for new CEO

07/20/20

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

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Investment banking windfall likely a one-off; bankruptcies expected to rise

07/20/20

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.

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Uncertainty about CFPB has banks leery of small-dollar lending

07/19/20

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.

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IRS Means Never Having to Say….

07/19/20

IRS Means Never Having to Say….Anything The IRS is not like most creditors. (Your probably knew that.)  The IRS in bankruptcy is not like most creditors in bankruptcy, either. Knowing what debts have been cleared (discharged) by your bankruptcy is easy for most debts. For credit cards, loans (including payday loans, who want you to […]

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Five Star is latest bank to shutter branches amid decline in foot traffic

07/17/20

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.

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