News

Today's News

November 24, 2020 - 1 new headlines

7 On Your Side explains what to do if you have a gift card for an out-of-business company - WJLA

11/24/2020 7 On Your Side explains what to do if you have a gift card for an out-of-business company  WJLA [more]
Tags: Liquidation, News

GM Must Recall 6M Trucks, SUVs With Takata Air Bags - Law360

11/23/2020 GM Must Recall 6M Trucks, SUVs With Takata Air Bags  Law360 [more]
Tags: Lawsuits, News

Guitar Center files for bankruptcy, citing pandemic woes - CBS News

11/23/2020 Guitar Center files for bankruptcy, citing pandemic woes  CBS News [more]
Tags: Filings, News

'We are on the verge of significant bankruptcies': Restaurants and pubs struggle under B.C.'s new restrictions - CTV News Vancouver

11/23/2020 'We are on the verge of significant bankruptcies': Restaurants and pubs struggle under B.C.'s new restrictions  CTV News Vancouver [more]
Tags: Liquidation, News

NRF: Online Holiday Sales To Jump 30 Pct As Consumer Spending Rises - pymnts.com

11/23/2020 NRF: Online Holiday Sales To Jump 30 Pct As Consumer Spending Rises  pymnts.com [more]
Tags: 363 Sales, News

Philly Refinery Lender Wants $1.3B Ch. 11 Ruling Flipped - Law360

11/23/2020 Philly Refinery Lender Wants $1.3B Ch. 11 Ruling Flipped  Law360 [more]
Tags: Cases of Interest, News

Chattanooga mall company CBL hopes for 'successful reorganization' in 2021 - Chattanooga Times Free Press

11/23/2020 Chattanooga mall company CBL hopes for 'successful reorganization' in 2021  Chattanooga Times Free Press [more]
Tags: Cases of Interest, News

Japan's ramen bars struggle to stay open as COVID hammers small firms - Reuters

11/23/2020 Japan's ramen bars struggle to stay open as COVID hammers small firms  Reuters [more]
Tags: Liquidation, News

Japan's ramen bars struggle to stay open as COVID hammers small firms - Reuters

11/23/2020 Japan's ramen bars struggle to stay open as COVID hammers small firms  Reuters [more]
Tags: Liquidation, News

Russia Gets Enforcement Of $50B In Awards Put On Hold - Law360

11/23/2020 Russia Gets Enforcement Of $50B In Awards Put On Hold  Law360 [more]
Tags: Lawsuits, News

Blogs

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2020

11/23/2020 Each year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately [more]
Tags: Bankruptcy Blogs, Business Bankruptcy Issues, BusinessBankruptcyBlog, Recent Developments, Uncategorized

More banks keeping branches open during latest coronavirus surge

11/23/2020 As COVID-19 infections break records nationwide, some banks are once again closing lobbies. But many others are maintaining the status quo after instituting a host of safety protocols that didn’t exist in the spring. [more]
Tags: Bankruptcy Blogs, BankThink, Branch network, Community banking, Consumer banking, Coronavirus, Regional banks

Oportun is latest nonbank lender to seek a bank charter

11/23/2020 The California company, which filed an application Monday with the Office of the Comptroller of the Currency, is following a path charted by Varo Money and SoFi. [more]
Tags: Bankruptcy Blogs, BankThink, Consumer lending, OCC

Biden plans to nominate Janet Yellen for Treasury secretary

11/23/2020 Yellen, the former head of the Federal Reserve, would become the first woman to hold the nation’s top economic policy job just as the coronavirus pandemic threatens another downturn. [more]
Tags: Bankruptcy Blogs, BankThink, Coronavirus, Federal Reserve, Janet Yellen, Treasury Department

OCC clarifies swap policies, makes other technical updates

11/23/2020 The agency said federal thrifts must abide by the same rules as national banks pertaining to membership in payment systems and codified policies on acceptable derivatives practices among a slew of technical changes. [more]
Tags: Bankruptcy Blogs, BankThink, Credit derivatives, Financial regulations, OCC, payments

Why Citi and Seattle Bank joined Google Pay

11/23/2020 The megabank and community bank recently announced they're offering accounts through the payment app. Both gave similar reasons: They need big tech to help them attract new customers. [more]
Tags: Bankruptcy Blogs, BankThink, Citigroup, Digital banking, Digital Banking 2020, Google Pay

Hotel lending: Banks in ‘race against time’

11/23/2020 Hospitality sector credits are coming out of forebearance just as coronavirus cases surge. Restructurings and charge-offs could mount unless vaccine distribution happens quickly enough to jump-start travel by mid-2021. [more]
Tags: Bankruptcy Blogs, BankThink, Commercial lending, Coronavirus, Credit quality, Hospitality and lodging

Credit union mergers accelerated in Q3: Report

11/23/2020 New analysis from CEO Advisory Group shows the asset size of merged institutions rising along with the number of mergers. [more]
Tags: Bankruptcy Blogs, BankThink, Consolidations, Credit unions, Growth strategies, M&A

GOP readies counterpunch if Biden removes CFPB chief

11/23/2020 The president-elect has legal backing to fire Director Kathy Kraninger thanks to a recent court ruling, but Republicans are prepared to challenge his ability to choose her successor. [more]
Tags: Bankruptcy Blogs, BankThink, CFPB, Election 2020, Joe Biden, Kathy Kraninger, litigation

Week ahead: Changes at NCUA, recession fears worsen

11/23/2020 It remains unclear how Mark McWatters's departure will impact the credit union regulator, and there is growing evidence that the country could face a "double-dip recession." [more]
Tags: Bankruptcy Blogs, BankThink, Credit unions, Economic indicators, Economy, Law and regulation, NCUA