Bankruptcy News

Wall Street banks may finally be getting a long-awaited opening to claw back market share from private credit lenders. After a decade in which private credit lenders grew rapidly and took over a large share of financing for leveraged buyouts,…

President Donald Trump has thrown his support behind crypto firms in their high-stakes battle with U.S. banks over whether they can offer interest-like returns on stablecoins. Trump, in a social media post late Tuesday, ratcheted up pressure on banks to relent on the stablecoin…

Mortgage rates dropped sharply last week, and while that helped to prolong gains in refinancing, homebuyer demand seemed unimpressed. Total mortgage application volume was essentially flat, rising just 0.4% compared with the previous week, according to the Mortgage Bankers Association’s…

Feb 20 (Reuters) – A U.S. bankruptcy judge on Friday gave final approval to Saks Global’s bankruptcy financing, which provides $1 billion in new funding to the company, after Saks reached deals with luxury brand vendors that had raised concerns…

Spirit Airlines is gearing up to shrink to a tiny version of its former self, focusing on high-demand travel periods and routes as well as expanding premium-class seats in an attempt to survive, according to a new plan it unveiled in U.S.…

Americans ended 2025 more in debt than ever before. Credit card balances hit a fresh high in the fourth quarter, rising by $44 billion to $1.28 trillion, according to a new report on household debt by the Federal Reserve Bank of New York released Tuesday.…

Shares in banks and credit card firms have fallen after US President Donald Trump called for credit card costs to be capped. On Friday, Trump wrote on Truth Social that interest rates on cards should be limited to 10% for…

The sudden collapse last fall of a string of American companies backed by private credit has thrust a fast-growing and opaque corner of Wall Street lending into the spotlight. Private credit, also known as direct lending, is a catch-all term for lending…

Amazon wants a federal judge to reject Saks Global’s bankruptcy financing plan, writing in court papers the beleaguered department store “burned through hundreds of millions of dollars in less than a year” and failed to hold up their agreement.  When Saks acquired Neiman Marcus for $2.7…

Mortgage rates fell sharply on Friday, a day after President Donald Trump said on social media that he is instructing mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds. “This will drive Mortgage Rates DOWN, monthly payments DOWN, and make…