Bankruptcy Blogs

Energy lenders brace for more losses

07/13/20

Bankers had asserted in April that they could handle a slump in oil prices tied to the coronavirus pandemic. Continued volatility, combined with declining collateral values and a rise in bankruptcies for exploration companies, is denting their confidence.

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U.S. Supreme Court finds Muscogee (Creek) Nation’s Reservation Remains Intact For Purposes of Criminal Jurisdiction

07/13/20

The U.S. Supreme Court in a 5-4 decision on July 9, 2020 held that the State of Oklahoma lacked jurisdiction to prosecute an enrolled member of the Seminole Tribe of Oklahoma because the crimes he was accused of committing occurred within the Muscogee (Creek) Reservation.

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Patriot National hires outsider as next leader

07/13/20

The Connecticut company recruited Robert Russell from Millington Bank to become its president and CEO.

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Wells Fargo buys $14B of delinquent mortgages tied to pandemic

07/13/20

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

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Lawsuit against Plaid heightens focus on data privacy issues

07/13/20

A class action asserts that the data aggregator accesses more of consumers' bank account information than it needs and ultimately aims to sell the data to others. Plaid, which has agreed to be sold to Visa, denies the allegations.

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FDIC lacks adequate sexual harassment prevention, reporting system: IG

07/13/20

Even though fewer cases are reported among the agency's employees compared to the government average, the watchdog said the Federal Deposit Insurance Corp. should improve its anti-harassment training and other procedures.

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Tips for Virtual Practice

07/13/20

I have not been in a courtroom since the first part of March. Courts have adapted to life under Covid-19 with a combination of telephonic and video hearings. I have attended several CLE presentations on virtual court and have some observations of my own. Here are some tips.

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Consumers in Canada shun cash and bank branches on virus fears

07/13/20

Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co.

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Podcast: Bankruptcy During COVID-19 Pandemic

07/13/20

2020 is on pace to set a record as the busiest year for bankruptcy filings since the Great Recession.  In this episode on Kelley Drye Legal Download podcast, Bankruptcy and Restructuring Partner Bob LeHane and Special Counsel Jennifer Raviele discuss the current state of retail and restaurant bankruptcy cases, the impact of the global pandemic, and what to expect in the future.

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Dodd-Frank at 10: How regulation has (and hasn't) changed since law's passage

07/13/20

Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation approaches its 10th anniversary, the post-crisis regulatory regime has stayed largely intact.

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