Interest Rates

News & Analysis as of

Bankruptcy Is Not A Borrower Antidote For Loan “Default Interest”

Defaulting on a loan typically triggers a higher interest rate — “default interest” — as one of many consequences for the borrower. (Other consequences include acceleration of the maturity, late fees and penalties, and...more

Federal Reserve Reports Moderate Pace Growth, Rising of Inflation, and Potential Increase in Federal Funds Rate

Chairwoman Janet Yellen presented her semi-annual report to the Senate Committee on Banking, Housing and Urban Affairs on February 15th where she testified that she expects the economy to continue to expand at a moderate pace...more

Your Daily Dose of Financial News

Japan’s SoftBank hasn’t been shy about bold moves, but its most recent one—the decision to buy American PE giant Fortress Investment Group—is an especially big one. The deal is seen as bolstering SoftBank’s recently announced...more

CFPB and VA AG Take Action Against Pawnbroker

On February 2, 2017, the Consumer Financial Protection Bureau (CFPB) and the Attorney General for the Commonwealth of Virginia (Virginia AG) announced the filing of a complaint and a stipulated consent order in the United...more

The Lehman Administration Surplus and the High Court Ruling in Waterfall IIC

A recent UK High Court ruling in Lehman Brothers International (Europe) (In Administration) ("Lehman Waterfall IIC") considers the application of statutory interests on proven debts in an administration and in particular the...more

Wealth Management Update - February 2017

February Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The February § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Your Daily Dose of Financial News

Snap Inc. filed its first public prospectus yesterday in advance of its fast-approaching offering date, playing up the strength of its ad revenue in just two short years as part of its pitch for big-time value....more

The future of European leveraged debt: While fears of another downturn loom, the European financial markets have innovated,...

Leveraged debt markets in Europe have shown resilience this year. However, with so many factors up in the air in 2017—from politics to interest rates, regulations and investor sentiment—the question remains whether this will...more

"Regional Focus: Asia"

A number of economic and political factors, both domestic and international, influenced M&A and capital markets activity worldwide in 2016. Skadden attorneys Christopher W. Betts, Will H. Cai, Z. Julie Gao, Bradley A. Klein,...more

Class Action Against Lending Club and WebBank Headed to Defeat

On Monday, a federal district court in the Southern District of New York granted a motion to compel arbitration in Bethune v. Lending Club Corporation, et al., a closely watched putative class action raising important issues...more

Playing by whose rules? The application of mandatory rules of Italian law to interest rate swaps

Dexia Crediop S.p.A. (Dexia) v Comune di Prato (Prato) [2016] EWHC 2824 (Comm), 10 November 2016 - In the second and final part of his judgment, Walker J held that further mandatory provisions of Italian law apply to and...more

IRS Releases February 2017 Federal Interest Rates

The 7520 rate for February 2017 has increased to 2.6%. The February 2017 Applicable Federal Interest Rates can be found below. Please see full Schedule below for more information. ...more

Curing Default in Chapter 11 Bankruptcy May Require Debtors to Pay Default Interest to Secured Creditors.

The Ninth Circuit Court of Appeals recently took up the issue of a Chapter 11 Debtor’s requirements to cure a loan default through its Chapter 11 plan. The result was a ruling that overturned previous law that entitled...more

A Secured Lender Must Receive Default Interest Under a Chapter 11 Plan Purporting to Cure a Defaulted Loan in the Ninth Circuit

A recent Ninth Circuit decision overturned earlier case law allowing debtors to avoid paying default interest when a defaulted loan was "cured" through a confirmed plan of reorganization. In Pacifica L 51 LLC v. New...more

Florida State Agencies Secure $28 Million Coordinated Settlement With Online Payday Lender

On January 12, 2017, the Florida Attorney General’s Office (Florida AG) announced that it and the Florida Office of Financial Regulation (Florida OFR) had entered into coordinated settlements with an online payday lender and...more

Ninth Circuit Holds Debtor Must Pay Default Interest Rate in Order to Cure Under Bankruptcy Plan

In a win for secured creditors, the Ninth Circuit Court of Appeals recently held that a debtor who sought to cure a pre-petition default of its loan through its Chapter 11 plan must pay the default rate of interest set forth...more

What Will Interest Rates Do in 2017?

Our good friends at HJ Sims Investments recently published their “Market Outlook” for 2017, which features some interesting speculation on where interest rates will go under a Trump Administration....more

Dodd-Frank and Other Laws Facing Indefinite Future in 2017

As 2017 begins, financial markets and the regulators that oversee them are facing significant uncertainty. When President-elect Donald Trump assumes the Oval Office on Jan. 20, all indications suggest that it will mark a...more

Complaint Against New York Life Dismissed in Action Testing Application of California’s Usury Laws

In a recent ruling, Lujan v. New York Life Insurance Company, a federal judge in the Northern District of California rejected the plaintiffs’ claim that New York Life violated California’s usury law by charging compound...more

Estate Planning Newsletter - December 2016

Hinshaw’s Estate Planning Newsletter includes reports on opportunities and challenges that may impact your estate plan. This publication is designed to keep our clients and friends aware of certain opportunities and...more

Becoming As Rich As Donald Trump: Financial and Tax Policies of the United States Government That Can Lead To Significant Wealth...

Financial and tax policies of the United States government can help Americans achieve significant wealth through real estate ownership. These policies tend to favor taxpayers who, like the Trump family, are willing to commit...more

Class X Litigation: Not So Appealing

Following their loss at first instance in Titan Europe 2006-1 P.L.C. and others [2016] EWHC 969 (Ch), the Class X Noteholder appealed the decision in respect of the central issue in the proceedings – when calculating the...more

IRS Releases January 2017 Federal Interest Rates

The 7520 rate for January 2017 has increased to 2.4%. The January 2017 Applicable Federal Interest Rates can be found here....more

In Case You Missed It: Launch Links - December, 2016 #2

Some interesting links we found across the web this week: Here’s what that new Fed rate increase means for venture-backed startups - The US Federal Reserve made headlines this week by raising its benchmark interest...more

Wealth Management Update - December 2016

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

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