Millions of Americans rely on payday loans to meet their short-term credit needs, and new research suggests that they understand the costs and terms associated with the product.

BankThink
(posted 6 hours 54 min ago)

The goal of execution is to turn a debtor’s assets […]
The post 5 Minute Legal Master Series: Execution appeared first on Bernstein-Burkley, P.C..

Bernstein-Burkley, P.C.
(posted 7 hours 27 min ago)

Authored by Karl Gruss and Edward L. Kellyand Karl Gruss and Edward L. Kelly of Rogers TowersFlorida’s homestead exemption protects a married couple’s primary residence from forced sale to satisfy a judgment lien, but what happens when spouses retain two properties as their individual primary residences, claiming homestead protection on each?  The answer comes down to whether the spouses are “legitimately” separated, and creditors should take note of a recent decision out of the 4th DCA addressing Florida’s homestead tax exemption, Brklacic v. Parrish, that sheds light on what factors a court may consider in analyzing a couple’s separation and dual homestead protection claim.
When would a couple claim legitimate separation?

Florida Banking Law Blog
(posted 7 hours 58 min ago)

It is tempting to believe we can avoid another crisis by giving regulators additional controls over the financial markets. A more effective approach would be to acknowledge regulators' limits.

BankThink
(posted 8 hours 54 min ago)

As lawyers, words are our stock in trade.
If we want to describe, explain, or persuade, we need to use the right word.
The difference between the almost right word and the right word is really a large matter – ’tis the difference between the lightning-bug and the lightning.  MARK TWAIN
I was blown away by the casual simplicity and clarity of Ed Boltz’s explanation of the difference between preemption and preclusion in an exchange  that just flew by on the NACBA list serve.  (You are a member of NACBA, aren’t you?)
BoltzEd Boltz, NC Bankruptcy Lawyer
Ed has kindly permitted me to share here his charge to use the right word.

Bankruptcy Mastery
(posted 8 hours 59 min ago)

There are several ways to stop a wage garnishment. One of the ways that I deal with on a daily basis is by filing chapter 7 or chapter 13 bankruptcy for individuals and families struggling with debt. Chapter 7 bankruptcy filing involves the creation of an automatic stay. The automatic stay prohibits collection activities after+ Read More
The post How To Stop A Wage Garnishment? appeared first on David M. Siegel.

(posted 9 hours 4 min ago)

ISS released the results of its policy survey. The responses, from 105 individual institutional investors and 255 members of the corporate issuer community (including advisers), may inform new policies or change existing policies. Investor and issuer views diverged in some cases. Draft policies are expected to be released in October for public comment.  

(posted 9 hours 10 min ago)
Associated Press

Billionaire Carl Icahn says he’d consider pumping $100 million into Trump Entertainment’s Taj Mahal if the casino’s union workers agree to another round of cuts. Read the Daily Bankruptcy Review article here.
(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)
As DBR reports via The Wall Street Journal, A federal judge dismissed some of Thornburg Mortgage Inc.’s lawsuit against J.P. Morgan Chase  & Co. and other big Wall Street banks over margin calls that the subprime lender says pushed it into bankruptcy five years ago.

WSJ.com: Bankruptcy Beat
(posted 9 hours 27 min ago)

Breaking News This Morning ...

eBay and PayPal to Split: The online marketplace said this morning it would spin off its payments unit, a move activist investor Carl Icahn had been pushing. Wall Street Journal, New York Times Receiving Wide Coverage ...

AIG and the Meaning of 'Many': A lawsuit that accuses the U.S. government of unfairly penalizing AIG shareholders in the terms of its 2008 bailout of the insurer got underway Monday. David Boies, a lawyer for...

BankThink
(posted 9 hours 57 min ago)