Bankruptcy News

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…

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…