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

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CDFIs have untapped potential as game changers for minority-owned businesses

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

New Chapter 11 Filing – Aztec/Shaffer, LLC

On November 18, 2020, Aztec/Shaffer, LLC (d/b/a Aztec Events & Tents), a party rental and tenting company based in Houston, TX, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern

New Chapter 11 Filing – Aztec/Shaffer, LLC

On November 18, 2020, Aztec/Shaffer, LLC (d/b/a Aztec Events & Tents), a party rental and tenting company based in Houston, TX, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern

$100K and a dream: College senior plots student-run credit union

A group at George Washington University has been working to open a de novo institution to serve students, but the would-be institution faces a variety of hurdles before it can open its doors.

A Remedy For Nervous Post-Petition Suppliers

In a recent mega-retail case, our client had outstanding, pre-petition purchase orders (“POs”) for goods the debtor wanted delivered. It’s true that post petition suppliers have an administrative priority to get paid. However, that priority is

Was reboot of this Fed crisis-relief program a bust?

The Term Asset-Backed Securities Loan Facility was brought back to inject $100 billion into the pandemic-battered economy, but only a fraction has been disbursed. Yet experts, pointing to its calming effects on markets, recommend that it be extended

White House says it will nominate Brooks to be comptroller

The Trump administration said it has picked Brian Brooks, who has led the Office of the Comptroller of the Currency in an acting capacity, to be considered by the Senate for a five-year term. But it is unclear whether he would stay on during the

Shelton's nomination to the Federal Reserve blocked in senate

Judy Shelton's nomination to the Federal Reserve Board was blocked in the Senate Tuesday, a stunning defeat for Senate Majority Leader Mitch McConnell and a blow to President Donald Trump's drive to reshape the U.S. central bank before he leaves

Ascentra Credit Union CEO dead at 52

Dale Owen began his career at the Bettendorf, Iowa-based institution in 1999 and took over as chief executive in 2013.

5 ways banks can guard against internal cyber threats

Financial institutions are using behavioral analytics, imposing tighter controls and taking other steps to prevent employee-caused security lapses.

Well-heeled consumers benefiting most from refi boom

The median credit score for new mortgages and refinancings climbed to 786 during the third quarter, its highest level in more than two decades, according to a report from the New York Fed.

BBVA, CIT sales put midsize banks in M&A spotlight

Technology imperatives, weak loan demand and the need for increased efficiency could put pressure on dozens of regional banks to join forces with rivals.

Atlantic Union planning new round of branch closures

The Virginia company, which shuttered 14 locations in September, will close another five branches early next year.

CEO of Mills42 Federal Credit Union resigns, successor named

Carla Rasetta is stepping down after a decade at the helm of the Massachusetts-based institution.

Pot banking could get new life on Toomey-led Senate panel

Sen. Pat Toomey, R-Pa., who would likely chair the Banking Committee if the GOP retains control of the chamber, signaled support for helping banks serve marijuana businesses. But he is skeptical of an anti-money-laundering bill backed by the industry

UK Government Publishes Treasury Direction for Extended Furlough Scheme

The Government has issued what we might hope will be the final piece of the jigsaw on the latest extension to the Coronavirus Job Retention Scheme (CJRS) – the Treasury Direction (TD4). TD4 sets out the law that will govern the extension of the CJRS

Amended Florida Wage Exemption Statute applies retroactively to loans incurred prior to amendment and only amount above such threshold is subject to 25 garnishment

In 2010 §222.11 of the Florida Statutes dealing with exemption of wages was amended to increase the threshold above which wages of a head of a household could be garnished if the borrower had agreed in writing to such garnishment from $500/week to

Douugh launches with AI to help the affluent improve financial habits

The challenger bank will start by recommending how much users should allocate toward savings and spending, and will later transfer those amounts automatically.

Michigan Student Loan Success!

Student Loan success stories are rare – Student Loan Victory-Over $200,000 discharged in bankruptcy so savor this one with me. Chapter 13 Student Loan Treatment Even though bankruptcy law is federal, there are vast differences in local practice. In

Bobka v Toyota Motor Credit: 9th Circuit Approves Lease Assumption without Court Approval

The 9th Circuit Court of Appeals is the first court of appeals to rule on the issue of whether a bankruptcy court must approve a lease assumption. See Bobka v. Toyota Motor Credit Corp, 968 F.3d 946 (2020). What happened? When Melissa Mather Bobka