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Tussles over risk-based capital have preoccupied the agency of late, but Rodney Hood says he also wants to foster growth of minority-owned institutions and make sure credit unions are taking the hacker threat seriously.

Read More from: BankThink

1 week 4 days ago

With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.

Read More from: BankThink

1 week 4 days ago
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On July 30th, United States Bankruptcy Judge Carol Doyle issued an opinion with the specific goal of providing “guidance to parties and to state courts” about the intersection of divorce and bankruptcy. Steven Welsch was in a chapter 13; his plan is confirmed, and the case is proceeding without incident. Steven’s ex-wife, Trenda, filed a request to modify the automatic stay so that she could ask the state court to modify a domestic support order from their divorce case.

Read More from: Lake Law Blog

1 week 4 days ago

Four advocacy groups questioned why the consumer bureau did not ask a judge to lift a stay of the rule's payment provisions.

Read More from: BankThink

1 week 4 days ago

The San Antonio company named Judith Frey vice president of digital banking, Maria Alvarez Mann chief information officer for bank technology and Carri Arnold bank technology officer.

Read More from: BankThink

1 week 4 days ago

As the competition mounts to increase adoption rates for person-to-person payment apps, PayPal's Venmo is adding a way for users to quickly move money from the app to their bank account.

Read More from: BankThink

1 week 4 days ago

The companies said the merger will provide scale and help them update technology more efficiently.

Read More from: BankThink

1 week 4 days ago

Margin expansion may grind to a halt if the Fed holds rates steady or cuts them further. The problem is regionals tend to lack the side businesses that the big banks possess to offset lending slumps.

Read More from: BankThink

1 week 4 days ago

Former Mastercard and longtime bank executive Colleen Taylor has joined Wells Fargo, where she will oversee the bank's merchant services strategy.

Read More from: BankThink

1 week 4 days ago

In 2018, securitization provided an estimated $13.1 trillion in financing.  Contrast that with the US $10.24 trillion issued at the end of the 2nd quarter of 2008, and we can see that the securitization market is back. However, the market, particularly the market participants, have seen a significant change during years that it took for the securitization market to recover from the financial crisis.

As many of us remember all too well, complex financial products created in the securitization market, were at the heart of the great recession that brought global financial markets to a halt in 2008.  While it took several years for financial market to recover, and then for market participants to adjust to the new guard rails put in place by the Dodd Frank financial market reforms such as risk retention and enhanced data disclosure, by all measures it appears that Issuers are now moving full speed ahead into the capital markets with their pools of newly originated loans.

1 week 4 days ago

  In Gross v. Rojas (In re Gross), 2019 Bankr. LEXIS 2452, BAP No. CC-18-1218-SKuTa (9th Cir. BAP 7 August 2019) the appellate panel reversed the California bankruptcy court's dismissal of the case for not confirming the plan in 14 months after filing.  The confirmation hearing had been continued seven times, due to the debtors' (Arnold & Laurie Gross) successful challenge of two secured claims.  The Grosses had continued to timely make the trustee payments.  Given the fact based ruling by both courts, a detailed analysis of the facts are in order.

   The chapter 13 case was filed in May 2017, proposing $2500/mo payments to the trustee for 60 months, with full payment to priority creditors and a 32% dividend to unsecured claims and a cure of arrearages on the mortgage on the 1st mortgage on their home with an avoidance of the 2nd mortgage.  The trustee objected to the plan in July 2017, shortly before the first confirmation, based on service errors, disclosure of a prior chapter 7 case, insufficient income information, and feasibility.  The feasibility objection was based on not providing for a $127,904 secured claim of the IRS, whose claim totaled over $135,000.  The trustee also objected as to the best interest requirement of §1325(b)(1)(B) and requested additional documentation as to expenses.

Read More from: Tampa Bankruptcy

1 week 4 days ago

Year to date through Mar. 31, 2019. Dollars in thousands.

Read More from: BankThink

1 week 4 days ago

Full-time equivalent, as of Mar. 31, 2019. Dollars in thousands.

Read More from: BankThink

1 week 4 days ago

Year to date through Mar. 31, 2019. Dollars in thousands.

Read More from: BankThink

1 week 4 days ago

My Google Alert popped up a lovely win for a Chapter 13 homeowner , but all I could see was the train wreck that lies ahead. The bankruptcy court ruled that the confirmed (and completed) plan trumped a late-filed mortgage proof of claim. Payment of the amount provided in the plan cured the prepetition arrearage. […]

The post Win Now, Wreck Later: A Tale of Bankruptcy and Mortgage Servicing appeared first on Bankruptcy Mastery.

Read More from: Bankruptcy Mastery

1 week 4 days ago

Featured in the Journal of Corporate Renewal Written by Kirk B. Burkley, Managing Partner, Bernstein-Burkley The U.S. opioid crisis and the avalanche of lawsuits it has produced may lead numerous pharmaceutical companies to seek bankruptcy relief, perhaps rivaling the asbestos bankruptcies of the late 1990s and early 2000s. New legal actions are being filed against pharmaceutical manufacturers and distributers nearly every day. Due to the already enormous amount of litigation and increased regulatory scrutiny by federal and state agencies, it is likely that these companies will experience significant impacts to their profits and operational costs. The crisis is likely to force certain pharmaceutical companies into insolvency. In light of the 2,000 lawsuits it is facing, for example, Purdue Pharma recently hired a law firm for restructuring advice and a potential bankruptcy filing. Purdue Pharma’s OxyContin revenue was down $2.6 billion in 2017 from five years earlier, and the company has cut hundreds of jobs and has stopped marketing opioids to physicians. However, the company’s slide is likely to continue.1 Purdue Pharma is not alone in considering bankruptcy as a strategy in the face of mounting legal fees and costs associated with actions brought as a result of the opioid crisis. Insys Therapeutics, Inc.

Read More from: Bernstein-Burkley, P.C.

1 week 4 days ago

Loot Crate, Inc., along with its parent and two other affiliates, filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11791-BLS).  The Debtors report an estimated 200-999 creditors, estimated assets of $10,000,001-$50 million and liabilities of $50,000,001-$100 million.  The cases have been assigned to the Honorable Brendan Linehan Shannon.

Contact Norman L. Pernick for more information regarding this matter.

1 week 4 days ago

Loot Crate, Inc., along with its parent and two other affiliates, filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11791-BLS).  The Debtors report an estimated 200-999 creditors, estimated assets of $10,000,001-$50 million and liabilities of $50,000,001-$100 million.  The cases have been assigned to the Honorable Brendan Linehan Shannon.

Contact Norman L. Pernick for more information regarding this matter.

1 week 4 days ago

The Federal Reserve's monetary policies have exacerbated the wealth gap, making the central bank a vulnerable target for Trump. He’s taking full advantage.

Read More from: BankThink

1 week 4 days ago

A Fed-led working group may pressure Wall Street to adopt SOFR; challenger banks with smartphone-based accounts soar.

Read More from: BankThink

1 week 4 days ago

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