ABI Blog Exchange

January 2022 Ponzi Scheme Roundup

Posted by Kathy Bazoian Phelps Below is a summary of the activity reported for January 2022. The reported stories reflect at least 5 new Ponzi schemes worldwide, 3 guilty pleas, more than 48 years of prison sentences, and an average age of

‘Small banks are disappearing’: FDIC’s Jelena McWilliams

CFPB warnings of bias in AI could spook lenders

ASHINC or Swim Case Study: Lessons for Private Equity Sponsors on Risks Relating to Distressed Portfolio Companies (Part I: Continuous Contractual Breach Under a Loan Agreement)

In an opinion that mostly flew under the radar in 2021, Judge Christopher Sontchi from the Bankruptcy Court for the District of Delaware (the “Court”) found investment firm Yucaipa American Alliance Fund I, L.P. and Yucaipa American Alliance

What the exit of Facebook's Diem means for bank stablecoins

Kitsap Credit Union in Wisconsin obtains CDFI certification

Southern Bancorp buying a fellow Arkansas bank

Flagstar soliciting mortgage fintechs for third accelerator program

JPMorgan sells shale driller it picked up following bankruptcy

Behind First Internet Bank’s plan to step up banking as a service

Deutsche Bank staff back in NYC offices as COVID cases decline

Lenders eager for higher rates — just not too high

Just posted: Other Judges' Cases

This article has been in the works a long time. During the Detroit bankruptcy, I wrestled with some of its topics on Credit Slips. The case studies involve bankruptcy. The mediators in those cases are life-tenured judges. The footnotes make it long

It’s time to rethink the mission of the Federal Home Loan Bank system

Barclays issuing private-label cards to reach more retailers

Just posted: Other Judges' Cases

This article has been in the works a long time. During the Detroit bankruptcy, I wrestled with some of its topics on Credit Slips. The case studies involve bankruptcy. The mediators in those cases are life-tenured judges. The footnotes make...

Cannabis and District Courts: Are Those Courthouse Doors Closed Too?

We have written many times over the past few years about how the bankruptcy courts are off-limits to state-legalized cannabis businesses. This past year brought no new relief to the cannabis industry, and the doors to the bankruptcy courts remain

Why U.S. Chamber of Commerce is opposing Biden’s banking nominees

After Paying for Ten Years, Nina Got Public Service Student Loan Debt Forgiveness

After Paying for Ten Years, Nina Got Public Service Student Loan Debt Forgiveness There’s very little bankruptcy law can do to help people with student loans. But as a bankruptcy lawyer, I can at least give people good advice. Since 2017, I started

Goldman Sachs CEO David Solomon’s pay rockets to $35 million