Skip to main content
Help Center
banner

ABI Blog Exchange

article-exchange

Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

Read Article

FDIC chair dismisses threat of a Democratic power grab

Jelena McWilliams, a Trump appointee, pushed back Wednesday on reports that an incoming Democratic majority may be able to enact policy at the Federal Deposit Insurance Corp. without her support. "The chairman really controls the board agenda," she

Fed nears decisions on key capital break, shareholder distributions

The Federal Reserve will determine within days whether to extend the easing of the supplementary leverage ratio for big banks past March 31, Chairman Jerome Powell says. And it's a couple of weeks away from announcing whether there will be limits on

Wear Your Mask, Keep Your Distance and…Update Your D&O Insurance

The ongoing COVID-19 pandemic and its impact on the global economy have led many businesses to take a close look at whether they would be prepared if a bankruptcy filing becomes necessary. While insurance may be the last thing on people’s minds as

What Happens When I File for Bankruptcy in Pennsylvania?

Many people associate bankruptcy with failure or hopelessness. However, many companies throughout Pennsylvania and the country file for bankruptcy and continue to operate – and make money. The same is true for people who file for bankruptcy. In

Sign of fintechs' evolution: Two new D.C. trade groups

The American Fintech Council and the Financial Technology Association say they’ll promote responsible innovation, fair access to financial services and more. Their dozens of members include some of the biggest names in fintech.]]

Sherrod Brown takes case for digital accounts to resistant bankers

The Ohio Democrat and chairman of the Senate Banking Committee told a virtual gathering of the American Bankers Association that FedAccounts, a plan opposed by industry trade groups, will lead to more bank customers.]]

Farm Lending Pitfalls For Urban Lawyers

OK, so you’re a sophisticated lending attorney in Metropolis who is comfortable with everything from aircraft financing to syndicated loans secured by casinos in Macau. Yet you feel a twinge of uncertainty when a business loan is to be secured by

Family Lawyer’s Cheat Sheet to Bankruptcy

Here, in a nutshell, are bankruptcy basics for family lawyers. This isn’t everything you need to know to navigate a dissolution where one spouse files bankruptcy, or marital debts suggest both spouses should file. It’s a start. You can get the basic

JPMorgan, Bank of America condemn racism against Asian Americans

"On streets, online and in many Asian-owned small businesses, we are seeing physical assault, verbal harassment and refusal of service," JPMorgan Chase CEO Jamie Dimon wrote in a memo to staff. "These racist acts cannot — and will not — be tolerated

Wells Fargo CEO 'bullish' on economy in second half

Wells Fargo Chief Executive Charlie Scharf said he sees the U.S. economy coming back from the coronavirus pandemic in a strong way in the second half of the year.]]

PPP Loans, Debtor in Possession Financing, Chapter 11 Debtors and Subchapter V Debtors

As several readers of our emails and blogs know, Congress has passed a new form of Chapter 11 bankruptcy for small business debtors. Details about this kind of bankruptcy filing can be located at our blog at https://shenwick.blogspot.com/search?q

Manafort sued by bank that lent mortgage on his Hamptons home

Federal Savings Bank, the Chicago bank that lent millions of dollars to Paul Manafort under its founder and former longtime CEO, has now sued the former Trump campaign chairman and his wife, seeking to foreclose upon his mansion in the Hamptons.]]

How Wells Fargo and Current keep digital banking novices engaged

Showcasing contactless ATM access and enabling easier use of stimulus funds are among the ways the megabank and digital upstart are tailoring services to customers acquired during the pandemic.]]

Unbanked stimulus seekers rush to open checking accounts

The IRS, FDIC and more than 70 banks and credit unions are urging consumers to open affordable accounts so they can receive their Economic Impact Payments quickly and safely. Many people have signed up, but millions lack accounts and will be harder

Greensill "Secured" Lending

Slips readers will be interested in Matt Levine's column today, which takes a deep dive into the recently failed Greensill's lending against “prospective receivables,” which is kind of like lending against my prospective estate in Scotland. Both look

Report: Nearly half of all credit unions at increased risk of cyberattack

A new study from Black Kite outlines a variety of threats facing the industry and pinpoints the average cost of a breach at large and small institutions alike.]]

Why this banker no longer sees SBA as 'lender of last resort'

First Internet CEO David Becker used to be dismissive of the Small Business Administration. But after getting to know some of the borrowers during the pandemic — and after his bank collected hefty fees from selling 7(a) loans — he's become a convert

Don’t steer lenders to one Libor alternative

Providing incentives for banks to transition legacy loan contracts from the London interbank offered rate to the new Secured Overnight Financing Rate, as New York Gov. Andrew Cuomo’s proposed budget does, is a gift to megabanks and limits pricing

Diaz & The Tax Refund

On its face, Diaz (Diaz v. Viegelahn , No. 19-50982 (5th Cir. Aug. 26, 2020)) is a pretty straightforward decision that struck down a local form plan as violating a below-median income debtor’s right to use her tax refund to finance necessary

UPDATED Global Insolvency Report: Impact of Covid-19 on Insolvency Laws

The most notable changes to our updated guide this week are those impacting Japan where the period of the expanded Employment Adjustment Subsidy will be extended until April 30 2021. All other jurisdictions remain largely the same. Please click here