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ABI Conference Material Spotlight: Understanding the Role of Special Servicers in a Complex Debt Structure & CMBS

A panel at ABI's 2025 Distressed Real Estate Symposium provided an overview of commercial mortgage-backed securities (CMBS) financing and the role of special servicers in a distressed context. The panelists also provided recent insights into the CMBS market and practitioner trends from the panelists’ viewpoints. READ MORE
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Private Credit and BSLs: Friends or Foes?

With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report
  Editor's Picks
 
FTX Estate to Begin Repaying Main Creditors $11.4B in Cash by May 2025

Having sought chapter 11 protection in November 2022 amid a liquidity shortfall and fraud disclosures, the firm has reclaimed between $14.7 billion and $16.5 billion in assets — eclipsing its $11.2 billion liabilities, Bitcoin.com reported. A judicially sanctioned restructuring blueprint guarantees creditors 119% repayment, an uncommon result in corporate failures. Smaller claimants, owed sums below $50,000, began seeing disbursements as early as late 2024. Bloomberg illuminated these developments earlier this week, chronicling FTX’s aim to repay creditors in May 2025. READ MORE
Chuck E. Cheese Struggles to Find Buyers for $660 Million Bond

Chuck E. Cheese owner CEC Entertainment is struggling to drum up enough demand for a $660 million high-yield bond sale to refinance debt it has due next year, Bloomberg News reported. JPMorgan Chase & Co. and Goldman Sachs Group Inc., the banks leading the deal, had not obtained sufficient orders from investors, and were straining to price the bond ahead of a Friday afternoon deadline. READ MORE
U.S. Bank Regulators to Rescind Updated Fair Lending Rules Following Bank Litigation

U.S. bank regulators announced Friday they intended to rescind a 2023 update to fair lending rules for banks and reinstate the prior requirements, citing a legal challenge from the banking industry over the new framework, Reuters reported. In a joint statement, the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency said they intend to issue a proposal reinstating prior rules enforcing the Community Reinvestment Act, a 1977 law that requires banks to service local communities. The updated rules were intended to modernize CRA requirements and acknowledge the rise of online banking. The new, tougher requirements would have forced banks to provide services to lower-income Americans in areas beyond their physical bank branches to include large populations of online users. READ MORE

 
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  Upcoming Events
 
Behind the Bench: Preparations and Suggestions to Solve the Pro Se Puzzle

ABI/NCBJ Webinar
April 1
ABI Annual Spring Meeting

Marriott Marquis
April 24-26 | Washington, D.C.

 
  Daily Roundup
 
IRS Crime Fighting Arm Announces Modernization Program as Financial Crimes Use More Tech

As the nature of financial crime changes, with technology and AI increasingly used to perpetrate illegal acts, the IRS' crime fighting arm — IRS Criminal Investigation — is announcing a new program intended to improve how it interacts with financial institutions, the Associated Press reported. Called Feedback in Response to Strategic Threat — or CI-FIRST — the program unveiled Friday is intended to speed up subpoena requests, give banks better data on how to detect criminal activity and build out investigations faster and more efficiently. READ MORE
FDIC Says Banks Can Engage in Crypto Activities Without Prior Approval

Another U.S. bank regulator has announced that banks do not need to receive advance permission to engage in some crypto-related activities, Reuters reported. The Federal Deposit Insurance Corporation announced Friday that banks can engage in legally permitted activities, including those that involve cryptocurrency, without receiving prior regulatory approval and so long as they manage their risks appropriately. The move reverses previous FDIC policy, which required banks to clear any crypto activities in advance. READ MORE
Consumer Spending Rebounds in February; Core Inflation Firmer

U.S. consumer spending rebounded in February amid rising prices for goods and services, which could amplify fears that the economy was facing a period of tepid growth and high inflation amid an escalation in trade tensions, Reuters reported. The report from the Commerce Department on Friday showed a measure of underlying price pressures increasing by the most in 13 months. Economists say President Donald Trump's protectionist trade agenda, marked by a rush of tariff action announcements since taking office in January, will boost prices of imported goods and drive inflation higher in the months ahead. READ MORE
Consumer Sentiment Sinks as Tariffs Drive Price Expectations

U.S. consumer sentiment tumbled this month to a more than two-year low and long-term inflation expectations jumped to a 32-year high as anxiety over tariffs continued to build, Bloomberg News reported. The final March sentiment index declined to 57 from 64.7 a month earlier, according to the University of Michigan. Consumers expect prices to rise at an annual rate of 4.1% over the next five to 10 years, the data released Friday showed. That’s the highest since February 1993 and above the 3.9% preliminary reading. They saw costs rising 5% over the next 12 months, the highest since 2022. READ MORE
Convicted Founder of Electric Vehicle Startup Nikola Pardoned by Trump

Trevor Milton, the founder of electric vehicle start-up Nikola who was sentenced to prison last year, was pardoned by President Donald Trump late Thursday, the White House confirmed Friday, the Associated Press reported. The pardon of Milton, who was sentenced to four years in prison for exaggerating the potential of his technology, could wipe out hundreds of millions of dollars in restitution that prosecutors were seeking for defrauded investors. READ MORE
CFPB Dissolution Halted for Now by Federal Judge

A federal judge on Friday temporarily blocked the Trump administration from dismantling the Consumer Financial Protection Bureau, a victory for employees of the financial watchdog roiled by efforts to shut down their agency, the Washington Post reported. Judge Amy Berman Jackson of the U.S. District Court for D.C. issued a preliminary injunction that requires the administration to reinstate probationary employees and other staff fired last month as part of a push to shutter the bureau. She also barred the administration from terminating employees except for cause related to their individual performance. READ MORE
 
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