ABI Blog Exchange

San Bernardino Bankruptcy: The End of Innocence?

The great recession landed the second of a one-two punch as San Bernardino this week followed closely on the heels of Stockton, California in voting to file for Chapter 9 bankruptcy. San Bernardino is reporting a $45,000,000.00 budget deficit and is

Payday Loans and the Tribal Sovereignty Model

Think about what happens when you pit tribal sovereign immunity against effective consumer protection laws. In my view, no one wins. Yet payday lenders are now very actively seeking tribes with whom to partner, in order to get the benefits of tribal

Strange Bedfellows Unite Against Antiquated ATM Signage Rule

The only beneficiary of this well-intended but misguided regulation appears to be a small group of lawyers bringing costly lawsuits.

Bankruptcy Does Not Wipe Out Your Co-Signors Liability

Many small business owners will have a family member or close friend co-sign for them on a business loan or the purchase of a major asset, such as a house or car. If you fall behind on the payments and decide that bankruptcy is the right option for

Today in Bankruptcy – 7-12-2012

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for July 12, 2012 Hey, San Bernardino, it’s a rainy day: Bankruptcy judge signals approval of Tribune Co. restructuring plan Peregrine Files For

FSOC Must Step In and Help with Compliance Chaos

When smaller financial institutions, such as credit unions, are inundated with regulations from multiple agencies simultaneously, their ability to meet the needs of members is hampered and services are curtailed.

Business Roundtable Publishes Updated Principles of Corporate Governance

The Business Roundtable has updated its Principles of Corporate Governance, last revised in 2010. It would be easy to dismiss the Principles as 32 pages of platitudes and conventional wisdom, but it’s actually worth a look. The Business Roundtable is

Business Roundtable Publishes Updated Principles of Corporate Governance

The Business Roundtable has updated its Principles of Corporate Governance, last revised in 2010. It would be easy to dismiss the Principles as 32 pages of platitudes and conventional wisdom, but it’s actually worth a look. The Business Roundtable is

Sympathy for the Devils, Slight Return

Associated Press Jeffrey Vanderbeek watches the action during a hockey game between the New Jersey Devils and the Ottawa Senators on Feb. 1, 2011. The owner of the National Hockey League’s troubled New Jersey Devils says Lehman Brothers Holdings Inc

Let's Remember the Real Victims Behind the ATM Sign Rule

How ironic to see banks complain about being victimized by nuisance lawsuits filed by consumers over missing warning notices at ATMs - notices that were required to stop banks from victimizing consumers with nuisance charges at ATMs.

Delaware Court Applies Entire Fairness Standard to Director Equity Grants

In the midst of the focus on executive compensation litigation, a recent Delaware opinion serves as a reminder that stockholder approval of at least some portion of director compensation may be beneficial in subsequent litigation, particularly if the

Delaware Court Applies Entire Fairness Standard to Director Equity Grants

In the midst of the focus on executive compensation litigation, a recent Delaware opinion serves as a reminder that stockholder approval of at least some portion of director compensation may be beneficial in subsequent litigation, particularly if the

Federal Benefits: Are Any Safe from Garnishment?

We’re not going to lie to you; there are several things at risk if you’re sued by a debt collector. If the suit is held up in court, private entities may be forced to turn over your funds to help offset a debt. This includes banks and employers. But

Do I Have to Give Information about My Business if Filing a Personal Bankruptcy?

Whether you file a Chapter 7 or Chapter 13 bankruptcy, you are required to disclose certain financial information about your business. Most likely, any business interest accrued would need to be disclosed; if you have more than 5 percent in business

Bankruptcy Filings Are Down -- Everywhere

With half the year over, there is half of the year still to go. For our few readers who might actually know the quote--yes, that is a tribute to the legendary Murray Walker. Giving our place in the calendar year, it seemed like an appropriate time to

Business Roundtable Publishes Updated Principles of Corporate Governance

The Business Roundtable has updated its Principles of Corporate Governance, last revised in 2010. It would be easy to dismiss the Principles as 32 pages of platitudes and conventional wisdom, but it’s actually worth a look. The Business Roundtable is

Business Roundtable Publishes Updated Principles of Corporate Governance

Dewey & LeBoeuf: Gambling on Litigation

Ever since the Dewey & LeBoeuf chapter 11 case was filed, it has seemed to me that the case was crying out for a motion to convert it to a chapter 7 liquidation. Per Reuters, it looks like either the former Dewey partners will accept a settlement

Inside the Decision to Appoint an Examiner in ResCap Bankruptcy

The United States Bankruptcy Court for the Southern District of New York recently approved Berkshire Hathaway Inc.’s motion to appoint an examiner to investigate and report on the actions of the bankrupt mortgage lender Residential Capital, LLC

San Bernardino, California Seeks Chapter 9 Bankruptcy

California has had other cities recently file for bankruptcy protection including Stockton and Mammoth Lakes. Unfortunately, San Bernardino is the third city to seek Chapter 9 bankruptcy protection. Like the other cities that filed their petitions