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

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New Chapter 11 Filing – Alamo Drafthouse Holdings, LLC

On March 3, 2021, dine-in movie theater chain Alamo Drafthouse Holdings, LLC of Austin, TX filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10474), along with

New Chapter 11 Filing – Alamo Drafthouse Holdings, LLC

On March 3, 2021, dine-in movie theater chain Alamo Drafthouse Holdings, LLC of Austin, TX filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10474), along with

Citi’s $900 million mistake prompts banks to seek new safeguards

Banks have begun inserting new language into loan deals that would require investors to return accidental payments like the one Citigroup made to Revlon's lenders last year.

NCUA swaps out spots on NeighborWorks America board

Rodney Hood, a board member and former chairman for the credit union regulator, was selected to fill a seat previously held by Todd Harper, who was recently appointed NCUA chairman.

Simmons First adds former regulator to its board

Julie Stackhouse retired last year as an executive vice president at the St. Louis Fed, where she supervised bank holding companies and state member banks in the region.

Bankruptcy Alphabet: E is for Exemptions

E stands for exemptions in my Bankruptcy Alphabet. Exemptions describe the possessions you get to keep when you file bankruptcy. E could also stand for Exception, since exemptions are the only place in bankruptcy law where the law is explicitly

Chopra's confirmation hearing; Goldman is back in the bitcoin business

CFPB nominee says he will focus on inaccurate credit reports and borrowers behind on housing payments; the bank is reopening its trading desk as cryptocurrencies gain wider acceptance.

NCUA’s Harper says exam audits merit new consumer protection programs

In remarks at CUNA’s online Governmental Affairs Conference, the chairman of the National Credit Union Administration called for the creation of new initiatives around compliance for fair credit reporting and truth in lending.

Healthy Bankruptcy!

I would not make this up, and does NOT surprise me: In a working paper released Monday by the National Bureau of Economic Research, economists Will Dobbie and Jae Song examine 500,000 bankruptcy filings in the United States to measure the effect of

Small Business Reorganization Act Deadline!

The Small Business Reorganization Act of 2019 (the “SBRA”) provides an expedited, simpler and less expensive route through chapter 11 of the Bankruptcy Code for small businesses. Plus, it preserves the owners’ equity interest in their company; even

A Heroes Jubilee

Millions of heroes of the pandemic--health care workers, law enforcement and first responders, National Guard troops, public school teachers, and social workers--are suffering needless financial hardship because of student loans. Years ago Congress

Biden's CFPB nominee puts loan servicers, credit bureaus on notice

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student-loan

New administration poses new challenges for credit union advocacy

The industry will have to contend with thin margins on either side of the aisle in Congress and new priorities from regulators, experts said in a panel discussion held as part of CUNA's online Governmental Affairs Conference.

Third Federal's CRA rating stuck at 'needs to improve'

For the second time in three years, the Cleveland thrift has received a low score on its Community Reinvestment Act examination for making too few home loans in low-income communities.

Bankers can ease transition to cashless society

Cold, hard cash is inevitably going away. Banks have a responsibility to help consumers who don’t have smartphones or even email addresses be prepared, says Shawn Rose, chief digital officer of Scotiabank.

JPMorgan seeks to reduce office space in two Manhattan towers

JPMorgan Chase is marketing big blocks of office space in Manhattan as companies reevaluate their need for real estate amid the COVID-19 pandemic, according to people with knowledge of the matter.

Can banks convince customers their data is safe?

Less than half of consumers believe financial services providers adequately protect their personal information, according to an Arizent survey. Banks such as Wells Fargo and Bank of Idaho are offering mobile tools and cybersecurity education that

How Square's bank can use bitcoin profits to promote financial inclusion

The overwhelming success of Square’s bitcoin trading service creates new opportunities for its bank to work with underserved markets.

Databits: Fear, malaise, and eroding trust

How consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization.

Capital One board expands to add Facebook, Nike executives

The new directors are Ime Archibong, whose team builds and tests mobile apps at Facebook, and Craig Williams, president of the Nike product line named after former NBA superstar Michael Jordan.