CreditSlips

The Argentine 2020 Restructuring Drama: An Insider's Perspective

01/14/21

There has been much discussion of the recent (2020) Argentine restructuring on creditslips, including by Anna Gelpern (here) and Mark Weidemaier (here), two people who know more about these matters than pretty much anyone else anywhere.  And significant portions of that dis

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CBRA Op-Ed

01/11/21

I have an op-ed about the Consumer Bankruptcy Reform Act running on CNBC's site. Given that both collection moratoria and benefit extensions keep getting dribbled out in one to three month bites, we will definitely see an expiration of both as the pandemic wanes, and neither is sufficient for many households to address their arrearages.

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Mick Mulvaney for Hypocrite Laureate?

01/07/21

Remember Mick Mulvaney?  He was a Tea Party Congressman who became head of OMB for Trump and was then named acting CFPB Director and ultimately acting Chief of Staff for Trump before being appointed special envoy to Northern Ireland.  Well he’s resigned in protest over the sacking of the Capitol. 

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Get your copy today!

01/06/21

The third edition of my Corporate Finance textbook is out and available for use in the Spring Semester.

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The Kraninger Discount

01/05/21

The CFPB has been chugging out enforcement actions and settlements at a fairly fast clip the last several months. Part of that might be businesses deciding to settle because they think they're going to get a better deal with Director Kraninger than under any Director appointed by President Biden. And here's the thing:  they might well be right because there is a clearly observable "Kraninger Discount" in CFPB enforcement statistics. Director Kraninger has suspended nearly 18% of civil monetary penalties and 11% of consumer redress.

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"Madden-Fix" Amicus

12/23/20

I filed an amicus brief today in Becerra v. Brooks, the challenge brought by the California, Illinois, and New York attorneys general against the OCC's "Madden-fix" rule. Consider it a stocking stuffer for the Acting Comptroller, Brian Brooks, and a bit of goodwill toward mankind. 

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The OCC Is a Problem Agency

12/19/20

It's time to say it loud and clear: the OCC is a problem agency.

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Regulatory Comments to the OCC on the Fair Access to Financial Services Rule

12/18/20

I submitted comments to the OCC about its proposed rulemaking regarding Fair Access to Financial Services. I previously blogged on the topic here and here.

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74 Law Professors Sign Letter in Support of the Consumer Bankruptcy Reform Act

12/14/20

Last week, Senator Elizabeth Warren (D-MA) and Representative Jerrold Nadler (D-NY) introduced the Consumer Bankruptcy Reform Act of 2020 (CBRA).

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