CreditSlips

Not Wells Fargo's First Rodeo...

09/21/16

Over on Twitter, Michael Barr noticed that there's an eerie similarity between Wells Fargo employees team members being incentivized to open up unauthorized deposit and credit card accounts for consumers and another practice that got Wells in trouble in 2011, falsifying borrower income and employment information in order to sell debt consolidation, cash-out refinance mortgage loans at sub-prime rates (often to prime borrower

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What is the point of that?

09/21/16

Perhaps as a result of GM, I've been thinking about notice issues in connection with insolvency.

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New Emirates Personal Bankruptcy Law to Exclude Consumers

09/12/16

The government of the United Arab Emirates has announced that it is working on a personal insolvency law (to accompany an imminently forthcoming business restructuring law). That's the good news.

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CFPB Consumer Complaint Narratives: What They Say About Bankruptcy

09/06/16

The Consumer Financial Protection Bureau's consumer complaint database has contained narratives for over a year now. Each month, the CFPB publishes a report that summarizes the complaints received over the previous three months, and that focuses on a specific product and geographic area.

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Puerto Rico’s Oversight Panel is Here

08/31/16

Or rather, you can read about it here. Members include Professor David Skeel, whom many Slips readers will be familiar with.

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Disarming Holdouts in Sovereign Debt Restructurings

08/24/16

The pari passu litigation against Argentina—discussed extensively here on Credit Slips, on FT Alphaville, and elsewhere—caused many people to worry that future government debt restructurings would become more difficult.

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Police Misconduct in Bankrupt Cities

08/22/16

Bankruptcy filings by major cities have reinvigorated attention to municipal bankruptcy. As chapter 9 and its application have become more like chapter 11, a wide range of creditors are being swept into the process. As written before, city cases now have classes of general unsecured creditors.

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John Oliver and consumer law YouTube videos

08/22/16

I'm trying something new this year.

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Uber Helps Me Revise My Contracts Syllabus

08/14/16

I've been meaning to post about this recent decision, by Judge Rakoff in the Southern District of New York, denying motions by Uber and its CEO Travis Kalanick to compel arbitration of a class action lawsuit.

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Clawing Back Tuition Payments

08/13/16

Are tuition payments for an adult child's education, while the parents are insolvent, constructively fraudulent? As the WSJ reported this week, Bankruptcy Judge Hoffman (D. Mass.) recently held that they are not. But other courts have disagreed.

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