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On Jun. 30, 2019. Dollars in thousands.

Read More from: BankThink

1 week 3 days ago

Upcoming Committee Formation Meeting: Thursday, October 10, 2019

Case Name: 19-12153 (KBO)

Location: Sheraton Suites 422 Delaware Avenue Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.

Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtor counsel.

1 week 3 days ago

Upcoming Committee Formation Meeting: Thursday, October 10, 2019

Case Name: 19-12153 (KBO)

Location: Sheraton Suites 422 Delaware Avenue Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.

Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtor counsel.

1 week 3 days ago

Regulators should consider online lending and a list of what loans qualify for CRA credit in any revamp of the outdated law.

Read More from: BankThink

1 week 3 days ago

The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years."

Read More from: BankThink

1 week 3 days ago

Europe would feel the brunt of the reductions, which would affect about 4% of the bank's global workforce.

Read More from: BankThink

1 week 3 days ago

A combination of mutual and clashing interests has driven many players — big banks, community banks, credit unions and fintechs — to offer high-interest, digital-only savings and checking.

Read More from: BankThink

1 week 3 days ago

I confess that, on its face, this did not strike me as the most exciting topic to read about (and that comes from someone who writes about the incredibly obscure world of sovereign debt contracts).  After all, who even knows what EBITDA definitions are?  Sounds like something from the tax or bankruptcy code.  But don’t let the topic be off putting.  This is a wonderfully interesting project; and elegantly executed (here).  By the way, EBITDA stands for earnings before interest, taxes, depreciation blah blah. Turns out it is especially important for young companies, where potential investors want to know about the cash flow being generated (Matt Levine has been writing about it recently in the context of the WeWork debacle - here). It is also very important because it generally ties into the covenants in the debt instrument and can impact whether or not the covenants are violated.

Read More from: Credit Slips

1 week 5 days ago

Facebook's Libra cryptocurrency project has lost its first major ally. PayPal — where the head of Facebook's Libra project once served as president — has cut its ties. As a founding member, PayPal was expected to drive the payment-specific part of the cryptocurrency initiative.

Read More from: BankThink

1 week 6 days ago

Hood's comments mark an unusual turn for an industry famous for its bipartisanship.

Read More from: BankThink

1 week 6 days ago

Many community banks are launching digital banks, more aggressively courting younger customers and abandoning the idea that only primary banking relationships are worthwhile.

Read More from: BankThink

1 week 6 days ago

Allowing the mortgage giants to retain profits resolves a short-term capital shortfall, but how much capital they would need after exiting conservatorship is still the bigger question.

Read More from: BankThink

1 week 6 days ago

The ‘Unsinkable Cathy Bessant’; Thasunda Duckett’s rising star takes center stage; the challenges facing Wells Fargo chief Charles Scharf; Fannie, Freddie to retain $45B in capital; and more from this week’s most-read stories.

Read More from: BankThink

1 week 6 days ago

As Banking Committee Chairman Mike Crapo works on legislation enabling banks to serve cannabis businesses, one area of focus is combating risks tied to “legacy cash” that has accumulated in the marijuana industry.

Read More from: BankThink

1 week 6 days ago

Upcoming Committee Formation Meeting: Friday, October 11, 2019

Case Name: 19-12122 (KG)

Location: The Doubletree Hotel 700 King Street Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.

Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtor counsel.

1 week 6 days ago

Upcoming Committee Formation Meeting: Friday, October 11, 2019

Case Name: 19-12122 (KG)

Location: The Doubletree Hotel 700 King Street Wilmington, DE 19801

Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.

Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtor counsel.

1 week 6 days ago

FDIC Chairman Jelena McWilliams reaches out to tech pros to bring fresh ideas to the agency.

Read More from: BankThink

1 week 6 days ago

How to file Bankruptcy in Philadelphia by a Top Rated Philadelphia Bankruptcy Lawyer

Individuals and couples come to our office to file for Bankruptcy. Based on their situation, we advise them on whether Chapter 7 Bankruptcy, Chapter 13 Bankruptcy or no Bankruptcy is in their best interest. When filing for Bankruptcy protection, we can also advise which day of the month is the best day to file for Bankruptcy and bring the Automatic Bankruptcy Stay into effect.

The following is the typical process of filing for Bankruptcy:

1. Gather Information of Creditors and Your Assets

Get the information of the creditors to whom you owe money and your income information, as well as a list of any assets that you have and the appropriate information on them. We always get a copy of the Credit report showing who your creditors are. We also put together a list of all your assets as well as any liabilities (debts) that you have outstanding.

2. Complete Credit Counseling

Before you file for Bankruptcy, you are required under the U.S. Bankruptcy Code to complete credit counseling with only very limited exceptions to the Credit Counseling requirements. This type of counseling is usually less than an hour long and can be done on the phone or the computer. The brief session reviews your financial situation and discusses options for dealing with your debt that usually confirms that Bankruptcy is your best option.

1 week 6 days ago

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