Bankruptcy News

Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs. Credit card losses bottomed in September 2021, and while initial increases were likely reversals from…

WASHINGTON – A year ago, Chair Jerome Powell delivered a stark warning: To fight persistently high inflation, the Federal Reserve would continue to sharply raise interest rates, bringing “some pain” in the form of job losses and weaker economic growth.…

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York. During the second quarter, credit card balances…

WASHINGTON (Reuters) – U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk. If fully implemented, the proposal would raise capital requirements for large banks by an aggregate…

According to a new report by the UN Global Crisis Response Group, entitled A World of Debt, a total of 52 countries – almost 40 per cent of the developing world – are in “serious debt trouble”, Mr. Guterres said, backing calls for…

LONG BEACH, Calif. — Banks and credit unions rarely see eye-to-eye, so it was no surprise when Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, called out “greedy” bank executives responsible for recent bank failures. …

The nation’s 23 largest banks passed the Federal Reserve’s so-called stress tests this year, a sign that the nation’s banking system remains resilient despite the recent banking crisis that led to the failure of Silicon Valley Bank, Signature Bank and First…

Banking has been top of mind for many people in the wake of some surprise bank failures and moves by US regulators to boost confidence in the financial system. Each time the Fed raises the rate, the lending rates that banks charge…

From Vice Media to Bed Bath & Beyond, bankruptcies are picking up again. Last week, corporate America had its worst 48-hour stretch of bankruptcies since at least 2008, according to Bloomberg. That’s never a good comparison. So far, more than 230 companies…

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…