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Robinhood Financial has rebranded its service, deleted tweets about its launch and scrubbed the page from its website.

Read More from: BankThink

43 sec ago

For those of you, who like me have been following the Puerto Rican debt drama, this wonderful new book by Sam Erman of USC might be of interest.  There are many wonderful and insightful stories in this book that I was altogether unaware of, despite having spent a lot of time reading about Puerto Rico's bizarre constitutional status.  Ultimately though, the most intriguing and insightful aspect of the book, to me, was the connection that Sam draws between the strange "foreign in a domestic sense" status of Puerto Rico and the events surrounding Reconstruction from the same period of time.

Sam was supposed to come to Duke last year to present this to the seminar that I run on Race, Law & Politics with Guy Charles, but we got hit by a snow storm on the day of his talk.  My initial thought had been to cancel the discussion and move on to the next paper.  But the students in the seminar (and Guy) had liked the draft of the book so much that they asked whether we might have a session to discuss it despite the fact that Sam was not going to be able to make it to Durham any longer.  We ended up having a fun discussion with my two wonderful con law colleagues, Walter Dellinger and Joseph Blocher. Indeed, that was perhaps our best session of the term (notwithstanding my general distaste for con law discussions). 

Read More from: Credit Slips

8 hours 22 min ago

Blue Lion Capital said Johnny Guerry, who was sparred with other community banks, will assist in efforts to pressure the Seattle bank to improve its performance or sell itself.

Read More from: BankThink

1 day 41 sec ago

Many banks and government officials are dubious about crypto, but Ohio Treasurer Josh Mandel lets businesses pay their taxes with it and has put all the state government’s expenses on a public ledger.

Read More from: BankThink

1 day 41 sec ago

Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits.

Read More from: BankThink

1 day 41 sec ago

What an FHFA led by Mark Calabria would mean for GSE reform; 7 (realistic) predictions about fintech in 2019; Kathy Kraninger signals new tone atop CFPB; and more from this week's most-read stories.

Read More from: BankThink

1 day 41 sec ago

Former CFPB chief Mick Mulvaney had claimed the agency could not supervise firms for Military Lending Act compliance, but lawmakers want his successor to go in a different direction.

Read More from: BankThink

1 day 41 sec ago

The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say.

Read More from: BankThink

1 day 41 sec ago

President Donald Trump on Friday named his budget director, Mick Mulvaney, as acting White House chief of staff, ending a tumultuous search to replace John Kelly, who the president pushed out without having lined up a successor.

Read More from: BankThink

1 day 41 sec ago

White Eagle Asset Portfolio, LP, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12808).  Cole Schotz previously reported on the chapter 11 filings of two of White Eagle’s affiliates on November 15, 2018.  The Debtors are now seeking joint administration under Case No. 18-12808.  According to the First Day Declaration, the Debtors are all indirect subsidiaries of Emergent Capital, Inc.

1 day 8 hours ago

White Eagle Asset Portfolio, LP, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12808).  Cole Schotz previously reported on the chapter 11 filings of two of White Eagle’s affiliates on November 15, 2018.  The Debtors are now seeking joint administration under Case No. 18-12808.  According to the First Day Declaration, the Debtors are all indirect subsidiaries of Emergent Capital, Inc.

1 day 8 hours ago

The most outstanding lawyers in all of New Jersey are voted on each year by the readers of South Jersey Magazine, and for the fourth consecutive year, Joel R. Spivack has been named one of the Awesome Attorneys in South Jersey. Joel Spivack has been helping clients for more than 25 years. He continues to......
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The post Joel R. Spivack Receives “Awesome Attorney” Award for 2018 appeared first on The Law Office of Joel R. Spivack.

1 day 9 hours ago

Two U.S. senators demand an investigation into the German bank over security, criminal risks; the Treasury has proposed rules to help foreign banks deal with last year’s tax law.

Read More from: BankThink

1 day 12 hours ago

The San Diego bank has agreed to assume $225 million in deposits at no premium from Modern Woodmen of America, which is shuttering MWABank, its direct bank subsidiary.

Read More from: BankThink

1 day 12 hours ago

The alternative is waiting for state and federal regulators to take steps that could disrupt the flow of capital and put some firms out of business.

Read More from: BankThink

1 day 12 hours ago

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.

Read More from: BankThink

1 day 12 hours ago

The directory, which will debut next year, should help community banks find potential fintech partners.

Read More from: BankThink

1 day 12 hours ago

As Congress moves closer to its Dec. 21 deadline to keep the government funded, the outlook for more financial services regulatory relief continues to worsen.

Read More from: BankThink

1 day 12 hours ago

A recent chapter 15 decision by Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) suggests that third-party releases susceptible to challenge or rejection in chapter 11 proceedings may be recognized and enforced under chapter 15. This decision provides companies with cross-border connections a path to achieve approval of non-consensual third-party guarantor releases in the U.S.

Background

The company, Avanti Communications Group (“Avanti”), was a Ka-band satellite operator, providing wholesale satellite data communications services throughout Europe, the Middle East and Africa. (In case you didn’t already know, the Ka band [pronounced as either “kay-ay band” or “ka band”] is a portion of the microwave part of the electromagnetic spectrum. The 30/20 GHz band is used in communications satellite uplinks and high-resolution, close-range targeting radars aboard military airplanes. Some frequencies in this radio band are used for vehicle speed detection by law enforcement, or at least that’s what Wikipedia tells us.) Headquartered in London, Avanti was incorporated under the laws of England and Wales as a public limited company.

1 day 12 hours ago

Attorney Ed WoodsI recently read a Federal Reserve study indicating that 89% of millennials do plan to purchase a home at some point in the future. However, 48% have not been able to save anything towards this goal. According to the study, the problem is student loan debt.

Interestingly, the study revealed about 23% of millennials fortunate enough to have no student loan debt could save enough for a down payment over the next five years. But when student loan debt is in the picture, that figure drops to around 12%. For millennials without a college degree, the figure drops even further to about 6%.

Student Loan Debt Seems to Exponentially Increase

According to the Federal Reserve Bank of New York, the amount of student loan debt has increased by 170% over the past ten years.

The average student loan borrower now has $34,000.00 in student loan debt.

The average monthly student loan payment in 2016 was $393.00.

This makes it difficult for many student loan borrowers to save for a down payment on a home. Some millennials say they plan to turn to family for financial assistance in obtaining financing a home.

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

1 day 13 hours ago

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