Bankruptcy News

The largest state bank trade group in the country is suing the Consumer Financial Protection Bureau to block the rollout of a new data collection requirement.  The Texas Bankers Association filed suit against the CFPB in the U.S. District Court for…

New YorkCNN —  Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy on Sunday. “Thank you to all of our loyal customers. We have made the difficult decision to begin…

More consumers are leaning on credit cards to afford increasingly expensive necessities such as food and rent. That helped propel total credit card debt to a record $930.6 billion at the end of 2022, an 18.5% spike from a year earlier, according to…

March 10 (Reuters) – Startup-focused lender SVB Financial Group (SIVB.O) became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California…

US household debt soared by the biggest amount in two decades in the fourth quarter, with younger borrowers in particular struggling to make loan payments amid high inflation and interest rates. Households added $394 billion in overall debt, the largest…

The Supreme Court in a unanimous decision Wednesday ruled that a California woman could not use U.S. bankruptcy code protection to avoid paying a $200,000 debt that resulted from fraud by her partner. The court said that the woman, Kate Bartenwerfer, owed the debt even if she did not know…

Interest Rates on Mortgages, Cars, and Credit Cards Will Keep Getting More Expensive in 2023 Borrowing money to buy a house or a car won’t get any cheaper this year, the nation’s central bank just confirmed. On Wednesday, the Federal…

Credit card balances reached a record-setting $866 billion in the third quarter of last year, which represents a year-over-year increase of 19%. Personal loans and credit card debt reached record levels in 2022 due to financial pressures brought on by…

This bestseller by Marketdata examines the $15 billion business of debt collection agencies. Complaints by consumers about harassment by collectors still exists and tops the list of complaints to the FTC. Federal and state regulations have reduced recovery rates, resulting…

The number of bankruptcy filings by private equity-backed companies in the U.S. edged higher in 2022, with the consumer sector, battered by supply chain disruptions and surging inflation, leading the pack. Forty-nine private equity portfolio companies have filed for bankruptcy…