CreditSlips

There've been a bunch of post-mortems of the Antonio Weiss nomination in the press the last few days (see, e.g., here, here, and here).

It's turning into a wild week in Chapter 11 with the dueling bankruptcy petitions for Caesar's Entertainment.  On Monday, an involuntary petition was filed in Delaware against Caesar's by some of its Second Lien noteholders. Today, Caesar's filed a voluntary petition in the Northern District of Illinois. It's not the year of the Four Emperors yet, but it is the year of the Two Caesar's petitions.

Last month mortgage servicer Ocwen (that's NewCo backwards) was mauled by the NY State Department of Financial Services. Now the California Department of Corporations is seeking to revoke Ocwen's license to do business in that state. 

Payday loans are exceedingly expensive, often trapping borrowers into a cycle of rolling their loan over for many months while interest compounds. Postal banking has been suggested as a way to provide people with better access to less-expensive loans. And the CFPB has indicated that it intends to regulate payday and similar high-cost loans (maybe that will happen soon?).