Headlines

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Format: 09-18-2014
September 18, 2014
Sen. Elizabeth Warren (D-Mass.) promised yesterday to keep pushing for student loan legislation after a bill allowing borrowers to refinance their debts failed to come up for a vote this week, Collections & Credit Risk reported today. The Bank on Students Emergency Loan Refinancing Act was...
September 18, 2014
Virginia Attorney General Mark R. Herring on Tuesday announced a $1.15 billion lawsuit against 13 of the nation’s biggest banks, accusing them of misleading a state retirement fund about the quality of bonds made up of residential mortgages, the Washington Post reported yesterday. The lawsuit,...
September 18, 2014
Two fraudulent online payday lending operations based in the Kansas City area have been temporarily shut down after being sued by federal authorities, Collections & Credit Risk reported today. Combined, the two schemes allegedly bilked at least $36 million, and likely substantially more, from...
September 18, 2014
A federal bankruptcy judge has rejected West Virginia American Water Company’s effort to block a class-action settlement between Freedom Industries and thousands of victims of January’s Elk River chemical spill, the Charleston (W.Va.) Gazette reported today. Bankruptcy Judge Ronald Pearson approved...
September 18, 2014
The Michigan Strategic Fund board gave final approval yesterday for the sale of up to $450 million of 30-year revenue bonds for a downtown Detroit arena that will be home to the National Hockey League's Detroit Red Wings, Reuters reported yesterday. The financing plan calls for $250 million of tax-...
September 18, 2014
The Senate Banking Committee will hold a hearing today at 11 a.m ET titled “Assessing and Enhancing Protections in Consumer Financial Services.” The witnesses will be: Travis B. Plunkett, Senior Director, Family Economic Stability, The Pew Charitable Trusts; Sheri Ekdom, Director, Center for...
September 18, 2014
A congressional subcommittee is taking a closer look at the Justice Department’s recent multi-billion-dollar settlements with the big banks, the Wall Street Journal reported today. At a hearing scheduled for Friday, the regulatory subcommittee of the House Judiciary Committee will examine details...
September 18, 2014
Citibank N.A. is set to tell an appeals court it faces “grave sanctions” from Argentina unless it defies a U.S. judge’s order blocking it from making payments to holders of $8.4 billion of the country’s bonds, Bloomberg News reported today. U.S. District Judge Thomas Griesa in Manhattan barred...
September 18, 2014
The Diocese of Stockton (Calif.) said that it has received 34 claims of sexual abuse since it notified the public of a deadline to file such claims imposed by a bankruptcy court, the Stockton Record reported today. The diocese also announced that no priest in active ministry was named in those...
September 18, 2014
Smallpox drug maker Siga Technologies Inc. on Wednesday told a judge that without bankruptcy protection, it "would no longer be able to continue its operations,” the Wall Street Journal reported today. Weil Gotshal & Manges LLP's Harvey Miller, a Siga lawyer, called Siga a healthy company that...
September 18, 2014
Attorney General Eric Holder yesterday called on the government to increase rewards for those who blow the whistle on financial crimes, arguing that greater incentives are needed to induce people to come forward with insider information, Legal Times reported today. In a speech at New York...
September 18, 2014
As a secured lender who’s owed $285 million plus interest, Carl Icahn’s in a prime position in the Trump Entertainment Resorts Inc. Chapter 11 case. The case began on Tuesday and is speeding toward a possible shutdown of the two casinos on the Atlantic City Boardwalk still bearing the name of rival...