article thumbnail

Update: Supreme Court Resolves Circuit Split Regarding Pre-Bankruptcy Seizure

PBWT

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On November 30, crypto exchange Binance announced it has introduced a pilot program enabling banks to store trading collateral off-exchange, a move aimed at reducing counterparty risk. On November 21, the CFPB announced that it approved an application that marks the first step for piloting disclosures for construction loans.