CreditSlips

In re Trump Entertainment Resorts, Inc. in Retrospect

11/15/16

Today in bankruptcy I taught In re Trump Entertainment Resorts, Inc. (Bankr. D. Del. Feb. 20, 2015).  The case isn't in my casebook (although some might notice that I presciently included in the problem sets a recurring character named Ronald Grump, a real estate developer with frequent bankruptcy dealings), but I added it to my syllabus this fall because of the election connection.

[more]

Creative Avoidance of Potential FDCPA Liability

11/15/16

     On May 19, 2015, Clark County Collection Services, LLC ("CCCS"), a Nevada debt collector, obtained a default judgment in Nevada Justice Court against Patricia Arellano on an assigned medical claim of $371.89. Two months later, on July 27, 2015, Arellano filed a class action in federal district court in Nevada, against CCCS and its lawyers, alleging FDCPA violations associated with the state debt collection action.

[more]

Preliminary Thoughts

11/14/16

On the new reality. Over at Dealb%k.

[more]

Welcome to Guestblogger Gary Neustadter

11/14/16

Credit Slips is delighted to welcome first-time guest blogger, Professor Gary Neustadter. A renowned innovative teacher, Professor Neustadter  specializes in debtor-creditor law, contracts, consumer protection, and legal practice.

[more]

How to think about banks

11/12/16

Banking is not an industry; banking is not the real economy. The big banks especially are economic and political behemoths that remain unpopular and poorly understood in the popular imagination.

[more]

Slow start for personal bankruptcy in Russia

11/11/16

After focusing on the substance of personal bankruptcy laws around the world for years, I'm now convinced that I should instead have been focusing on institutions and procedure. Reports of the first year of the Russian personal bankruptcy process convince me further. In a paper anticipating the new law, I predicted potential process hangups, but I badly underestimated the degree to which procedural complications would waste time and resources and undermine the system's new effectiveness.

[more]

Tinder for CDS?

11/04/16

Dealers occupy an important position in financial markets, essentially serving as central nodes that match buyers and sellers of all types of instruments.  Sometimes the dealer itself will serve as the ultimate buyer or seller, but frequently they are running (or attempting to run) matched books of buyers and sellers.  In short, dealers are really just matchmakers.  So here's the thing:  we've seen how human matchmaking can be entirely replaced by (1) algorithms and (2) apps.  For algorithms, that's just stuff like Match.com or eHarmony.  And for apps, well, there's Tinder, etc.

[more]

Standardize Consumer Financial Data

10/28/16

This week CFPB Director Richard Cordray stated that he was “gravely concerned” by banks' attempts to prevent screen scraping of consumer data by fintechs authorized by consumers collect their financial data.

[more]

Does Behavioral Economics Matter?

10/27/16

The New Republic (yes it still exists) has a piece about whether behavioral economics will have as much influence in a Clinton administration as it did in the Obama administration. The unspoken assumption of the piece is that behavioral economics actually had a big influence in the Obama administration. Here's the thing:  as far as I can tell, behavioral economics has been basically irrelevant in the Obama administration.

[more]