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A report on women in the financial services industry illuminates some of the ways gender is still a factor holding them back. One problem is unstated ideas about qualities for success, which have been decided over decades by men. It seems that gender diversity initiatives aren't helping, but a couple of headhunters have some suggestions for how banks can do better and so does Debbie Matz. "Equity" screenwriter Amy Fox talks about what she learned from women on Wall Street, and the film is set to become the basis of a new ABC television series.

Read More from: BankThink

5 hours 35 min ago
I am resuming my coverage of the National Conference of Bankruptcy Judges this year.   Last year the demands of work kept me off the blog.   NCBJ 2016 is taking place in San Francisco.  A few random observations.    People in San Francisco wear jackets even when it isn't cold.   There are mica specks in the sidewalk that make them glitter when the light hits them.   The Golden Gate Bridge looks incredible when it is lit up at night.
I started NCBJ wondering why I agreed to wake up at 5:00 a.m. to go running.   This year was the Seventh Annual Wake Up and Run event.   About 70 runners got to experience the darkened streets of San Francisco and the waterfront for a 5k fun run. The turnout was impressive given the early hour and the prior night's festivities.  As usual, I finished near the back of the pack but I was not alone.   It was a good way to start the conference and see some of the City.   
7 hours 11 min ago

The last movie about female executives on Wall Street was "Working Girl" in 1983. The end of the movie left the audience feeling euphoric. But in creating the movie "Equity," we set out to explore Â-- as authentically as possible Â-- the experiences women have in this field, and the truths that we encountered in our interviews were not pretty.

Read More from: BankThink

9 hours 59 min ago

Breaking News This Morning ...

Deutsche Bank reports: Deutsche Bank reported a profit of €278 million in the third quarter, compared to a loss of €6.02 billion in the year earlier quarter. Analysts had been expecting another loss. The big German bank said it was making progress on turning around its business even as it seeks to negotiate a reduced penalty with the U.S. Justice Department to close a probe related to mortgage securities. Wall Street...

Read More from: BankThink

11 hours 9 min ago

attorney Heather BanksA week does not go by when I talk with a client or prospective client about issues with their mortgage or their need to utilize the equity in their home and cannot.  News articles report the housing market continues to improve.  The Federal Reserve recently published an article entitled Residential Mortgage Lending from 2004 to 2015:  Evidence from the Home Mortgage Disclosure Act Data with interesting data on the mortgages.

Read More from: Bonds & Botes, P.C.

11 hours 46 min ago

The pathway is now well-used

By: Donald L. Swanson

“The civil Appeals Management Plan (CAMP), now operating in the United States Court of Appeals for the Second Circuit, is an innovative set of reforms in the appellate process. . . . This is the first time the [mediation] procedure has been implemented systematically.”

–1977 Report of the Federal Judicial Center, “An Experiment in Judicial Administration.”

Read More from: Mediatbankry

12 hours 54 min ago

New Jersey Debt Management AttorneysAlthough many Americans struggling with debt realize how important it is to save for retirement, the reality is that not enough people are doing enough to prepare for a time when they won’t be working anymore. According to a recent survey, the vast majority of people living in the U.S. have dangerously low amounts saved up for retirement or in case of an emergency.

The survey was conducted by GOBankingRates and found that nearly 70 percent of Americans don’t even have $1,000 in their savings. That might not even be the worst of it: the survey also found that one out of every three Americans has zero dollars saved for the future.

13 hours 20 min ago

Last month, the United States Bankruptcy Court for the Southern District of New York published proposed amendments to its local rules effective December 1, 2016 (the “Proposed Amendments”).  Links to the Bankruptcy Court’s notice to the bar with respect to the Proposed Amendments and the full text of the Proposed Amendments are provided below.  The Proposed Amendments are currently open for public comment.  The comment deadline is November 14, 2016 by 5:00 p.m.

Below is summary of substantive changes effected by the Proposed Amendments which may be of interest to practitioners:

1 day 3 hours ago

The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.

Read More from: BankThink

1 day 9 hours ago

attorney Robert ReeseOver the previous 5 years my afternoons and evenings in the fall were spent coaching high school football. I am passionate about the game and felt the excitement build as the season approached. This past Saturday I attended the Alabama vs. Texas A&M game and the level of excitement was off the charts. Football fans at every level enjoy watching their team and some even add to the excitement by betting on games.  According to NBC news in 2013, somewhere between 60 and 70 billion dollars is wagered on college football each year. The figure has more than likely increased with the new playoff system now in place and there are estimates that 8 billion dollars alone is bet on the Super Bowl each year.

Read More from: Bonds & Botes, P.C.

1 day 10 hours ago

Receiving Wide Coverage ...

OCC seeks data: The Office of the Comptroller of the Currency has sent formal letters to large and regional banks it regulates seeking information about their sales practices and incentive-compensation plans following the Wells Fargo scandal. JPMorgan Chase, Bank of America, Citigroup and Santander USA were among the banks getting letters. Comptroller Thomas Curry told the Senate Banking Committee last month the regulator will "review the sales practices of all the large...

Read More from: BankThink

1 day 10 hours ago

Trampush v. United FCS (In re Trampush), 552 B.R. 817 (Bankr. W.D. Wisc. 2016) – Chapter 13 debtors sought a determination of the priority of two mortgages. A successor to the first mortgagee argued that the entire balance owed to … Continue reading

1 day 13 hours ago

house at risk

If your house is teetering on the edge of foreclosure, the time to act has a deadline.

HAMP, the government program incentivizing home loan modifications, ends in 2016.

To qualify for HAMP, you must submit a complete Initial Application Package by December 30, 2016.

That package must include:

  •  A  RMA form which includes a required hardship affidavit and Dodd-Frank certification
  •  Either IRS Form 4506-T or 4506T-EZ, or in the alternative, a signed copy of the most recent year’s tax return with all applicable schedules and forms,
  •  The Dodd-Frank certification, either as part of the RMA form or as a stand-alone form, and
  •  Evidence of the borrower’s income.

Get the HAMP forms and  supporting information 

2 days 9 hours ago

Neither bank regulators nor banks' risk managers can afford to wait until rating agencies downgrade Deutsche before understanding the level of exposure they have to the German bank giant.

Read More from: BankThink

2 days 9 hours ago

American Gilsonite Holding Company—a hydrocarbon resin supplier based in Houston, Texas—and four of its affiliates have filed petitions for relief under chapter 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12315).   The Debtors enter chapter 11 with a prepacked plan of reorganization and $30 million in proposed debtor in possession financing provided by an ad hoc group of the Debtors’ second lien noteholders.

2 days 10 hours ago

Basic Energy Services, Inc., and twenty-seven (27) of its subsidiaries and affiliates filed petitions for relief under chapter 11 in the Bankruptcy Court for the District of Delaware earlier this morning (Case No. 16-12320).  Basic Energy Services, Inc., and Taylor Industries LLC provide well site services to over 2,000 land-based oil and natural gas producing companies; according to the First Day Declaration, all other Debtor entities are shell entities with no material assets.  The Debtors enter chapter 11 with a prepacked plan of reorganization and $80 million in proposed debtor in possession financing provided by a consortium of the Debtors’ prepetition term lenders and an ad hoc group of their unsecured note holders.  The Debtors’ Plan proposes to convert $800 million of their unsecured notes into equity in the reorganized Basic and raise working capital through a $125 million rights offering.

2 days 10 hours ago