ABI Blog Exchange

Reinbold v. Thorpe (In re Thorpe), 881 F.3d 536 (7th Cir. 2018) – A chapter 7 trustee sought to avoid the interest of a debtor’s wife in property that was awarded to her in a state court divorce proceeding. This decision … Continue reading →

Bank organizers are picking one another's brains about hiring decisions, applications and raising capital as part of the monthslong effort to secure charters.

The skeptics keep waiting for investment in financial startups to dry up, but it doubled in the first half of 2018. KPMG's Safwan Zaheer explains why.

The biggest impact may be to focus the administration’s efforts on selecting a nominee to succeed Director Mel Watt, whose term ends in January.

The bureau announced the creation of the Global Financial Innovation Network for regulators to discuss joint policy work and offer a cross-border product testing process.

The former Trump campaign chair got $16 million in mortgages from The Federal Savings Bank. His trial is shedding new light on what the bank's CEO allegedly received in return.

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.

I have seen a lot of clients recently who have had to file bankruptcy because they turned their cars in to the dealership.  They expected that this it would be a solution to the problem of a car payment they could not afford.  Nope.  Big, big mistake.

Turning in a car to the dealership is, for legal purposes, exactly the same as a repossession.  The dealer goes through the same steps.  The dealer takes the car to auction and sells it — usually to themselves — for way less than the amount of the outstanding loan.

The remaining loan balance — known as a deficiency — is usually the subject of a lawsuit against the borrower.  Most of the time, the borrower does not bother to contest the lawsuit. (There are few legal defenses to the lawsuit on the deficiency anyway.)  The result is a judgment against the borrower, often for tens of thousands of dollars.