Four alternatives for banks managing distressed agricultural loans.
The American Bankers Association expressed its opposition today to two bills that would change the bankruptcy code, writing in a memo to the House Judiciary Committee that the “bills would increase the cost of borrowing and reduce the availability of credit.”
Just prior to going into recess for August, the Senate on Thursday passed an ABA-opposed bill that would significantly raise the current debt limit for Chapter 12 bankruptcy filings.
The American Bankers Association today urged lawmakers not to vote for a bill that would significantly raise the current debt limit for Chapter 12 bankruptcy filings.
In a comment letter sent today, ABA warned the House Judiciary Committee of the unintended consequences of raising the current debt limit for Chapter 12 bankruptcy filings from approximately $4.3 million to $10 million.
A proposed change to Chapter 12 of the Bankruptcy Code could have adverse effects for the nation’s agricultural producers, the American Bankers Association said in a statement for the record in a House Judiciary Subcommittee hearing held today.
Commenting on the current state of large bank resolution planning at an industry event today, FDIC Chairman Jelena McWilliams today said that the FDIC is considering several policy changes to “strengthen and streamline” the large bank resolution planning process.
Ahead of a House Judiciary Committee Hearing today on H.R. 3553, the Bankruptcy Administration Improvement Act, the American Bankers Association submitted a statement for the record supporting provisions in the bill that would increase the statutory fee paid to Chapter 7 trustees in so-called “no asset” bankruptcy cases.
The Consumer Financial Protection Bureau today issued a final rule related to the timing for servicers sending periodic statements to borrowers in bankruptcy.
The Treasury Department today issued a report recommending important changes to the Dodd-Frank Act’s orderly liquidation authority, which provides a mechanism for the FDIC and Federal Reserve to wind down a systemically important but failing financial institution with minimal harm to the broader financial system.