News Topic: CreditSlips

Alphaville has a very important post on AIG's attempt to gross up its ROE post-bailout. ... Read full article

I've previously posted about my frustrations at being stranded abroad without a functioning credit card -- particularly at t rain stations -- and the refusal of American credit cards to adopt a technology that has been in my building laundry room for ... Read full article

Yesterday's hearing -- my Dealbook on it here -- was clearly all about political posturing: the Democrats are defensive about Dodd-Frank, rightly afraid that any change to it becomes a chance to repeal or gut, while the Republicans too often veer off ... Read full article

Thanks to our friends over at WSJ 's Bankruptcy Beat , a new study caught my eye on the issue of medical bankruptcies. A new study appearing in the Journal of Clinical Oncology documents an increased risk of bankruptcy with certain types of cancers. ... Read full article

Story here about debt collectors using pseudonyms because of the abuse they get. I don't doubt it. Debt collectors aren't exactly popular folks. I was recently searching for cartoons of various consumer finance topics and there were by far the ... Read full article

My post on allonges generated quite a bit of response, on and off the blog. But here's what's troubling me--if allonges are being fabricated ex post, who is doing it? The servicer? The default management shop (e.g., LPS)? The network firm (sort ... Read full article

I have generally been willing to give mortgage servicers, servicer support shops (like LPS), and foreclosure attorneys the benefit of the doubt when it comes to documentation irregularities (to put it mildly) in foreclosures. ... Read full article

I'm off to D.C. this morning to talk with the House Financial Services Subcommittee on Financial Institutions regarding my thoughts on Dodd-Frank’s Orderly Liquidation Authority. My written testimony is  here . ... Read full article

This story shouldn't surprise Credit Slips readers.   ... Read full article

The U.S. mortgage servicing industry is in deep doo-doo. To foreclose on a mortgage, you must own the note and the mortgage. That's a lot of paperwork to keep track of, especially when you're trying to package as many mortgage loans into as many ... Read full article

We all know that banks are allowed to charge customers for things that do not cost them anything, but I guess I just assumed that they did this only to consumers. Silly me.  ... Read full article

Professor Curtis Bridgeman (FSU College of Law) has an article on The Morality of Jingle Mail:  Moral Myths About Strategic Default .  I have a fundamental philosophical disagreement with the article, but it's got a lot of very good, clear analysis ... Read full article

The other shoe drops: allegations of robo-signing in credit card collections (courtesy of the AP and CNBC). If it is happening in assembly-line mortgage foreclosures, there is no reason to think it is not happening in other assembly-line debt collections. ... Read full article

By popular demand, I have made some changes to the news feed for Credit Slips. The first change is that the Credit Slips feed is now available through FeedBurner. I am told this change should not affect anyone who already has subscribed to the Credit ... Read full article

Anybody who cares about consumer rights should take a look at this recent article  by Professor Dan Schwarcz, a law professor and insurance expert from the University of Minnesota Law School. This guy actually gets his jollies reading insurance policies, ... Read full article

In a little noticed footnote in the FDIC's recent report on a hypothetical liquidtion of Lehman under Dodd-Frank resolution authority, the FDIC states ... Read full article

So the outgoing chair of ISDA complains that banks will have to pass on the costs of Dodd-Frank to end users of derivatives. Undoubtedly the usual crowd -- primarily the WSJ op-ed page -- will run with this evidence of yet another hit to American ... Read full article

King Solomon's judgment regarding the two women claiming to be the mother of the same child is a familiar story--the King proposed chopping the baby in two and giving each mother half of the child. One mother consents, while the other says that she ... Read full article