News Topic: CreditSlips

The New York Times came out with a strong editorial urging state AGs and the Administration not to rush into the proposed multi-state settlement deal. I think it's worthwhile reviewing what we know about the deal and the arguments for and against it. ... Read full article

The United States has no housing policy. And there's none on the horizon either. That's a scary thing, given the centrality of housing to domestic economic woes.   Once upon a time, the US had a housing policy. It was focused on increasing ... Read full article

In early October of 2011, Bank of America announced that it would begin charging its customers an additional $5 users fee for using its debit cards. In my financial literacy class the weekend after the announcement, some students were resigned to it, some ... Read full article

OCC and the Federal Reserve announced this week that banks who service mortgages will be sending letters to homeowners this month and next, offering them an opportunity to request review of any 2009 or 2010 foreclosure.  Every homeowner who asks gets a ... Read full article

No more referendum . Still my candidate for the most important moment in this crisis. The possibility of a referendum, and of exiting the Euro, stays on the table -- as well it should. The persistent fog in Europe's Plan A, and the palpable absence ... Read full article

I want to draw about two trillion underlines under Alphaville's point  that we’d also like to know about concentration. That is, are there just a few counterparties out there that are big net sellers of Italy CDS or are there many? Which CDS have the ... Read full article

The Greek authorities' decision to hold a referendum on the new Eurozone rescue package strikes me as the most interesting and potentially consequential development in the crisis in a very long time. It is potentially more consequential than last ... Read full article

The NY Times had some details today about the multi-state attorney general mortgage servicing settlement in the works. It looks every bit as awful as one might have feared. Here's the criticial take-away:  this is bupkis. It gives meaningless relief ... Read full article

The Mortgage Electronic Registration System (MERS) has been the target in a lot of lawsuits during the mortgage crisis for its shoddy, opaque practices. But because these suits tend to be brought by borrowers in default, the courts have been willing to ... Read full article

I have a post up on Salon.com .  Credit Slips readers will recognize it as based on a prior post here . ... Read full article

The Financial Stability Board, an international organization operating under the auspices of the G20 countries, this week issued its Report on Consumer Finance Protection. http://www.financialstabilityboard.org/publications/r_111026a.pdf FSB emphasizes ... Read full article

The Financial Stability Board ... Read full article

A discussion about why nation-by-nation bankruptcy fails when dealing with global enterprises, here . ... Read full article

A great chart over at the Economist breaks down moves in consumer spending by industry, perhaps giving us some insight over where the next chapter 11 cases will come from, at least in the broadly defined retail sector. ... Read full article

Calling everyone in the over-40 set to help me remember something. When dealing with those old-fashioned things called “checks,” how did your own overdraft protection used to work?  My recollection is that, back in the day, as long as a person had a ... Read full article

It is not often that intellectual debates about the nature of law and legal scholarship find their way into the popular media. Elizabeth Warren's campaign for U.S. Senate, however, has provided the occasion. This past weekend in the Boston Globe , ... Read full article

Thinking about the return of the Delaware/SDNY venue debate and the bankruptcy court's decision to deny appointment of a trustee in the case of bankrupt solar panel maker Solyndra, up now at Dealbook . ... Read full article

There is $700 billion in negative equity in the US. That is the critical figure. Any housing plan that doesn’t take a serious bite out of that $700 billion isn’t worth discussing. It’s just window dressing. And that’s exactly what the latest iteration of ... Read full article