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In 2010, TCF Bank was sued regarding overdraft charges. [26] The bank processed higher amount transactions first in order to drain customer accounts faster, allowing TCF to then increase the number of total overdraft charges from each of the smaller amounts remaining, as well as charging overdraft fees on a daily basis rather than posing one flat fee.
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
One major element in almost every airline bankruptcy is the rejection by the debtor of its current collective bargaining agreements with employees. After satisfying certain requirements, bankruptcy law permits courts to approve the rejection of labor contracts by the debtor-employer. With this tool, airline managers reduce costs.
Like any other business, banks and mortgage companies can fail or go bankrupt, sending shock waves throughout the financial system. Case in point: the March 2023 banking crisis, ...
Restaurant bankruptcy filings have surged so far this year, echoing a broader rise in corporate bankruptcies across sectors. At least 10 restaurant chains, not including multi-unit franchisees ...
Oh, I have to go bankrupt in order to pay medical bills,” Sanders illustrated. Sanders then posed a rhetorical question: If someone is dealing with cancer, would the added financial stress ...
Egghead Software: An online software retailer, its shares surged in 1998 as investors bought up shares of Internet companies; by 2001, the company was bankrupt. eToys.com: An online toy retailer whose stock price hit a high of $84.35 per share in October 1999. In February 2001, it filed for bankruptcy with $247 million in debt.
Over the weekend, news reports suggested that Donald Trump's casino group was going to file for Chapter 11 bankruptcy protection, and that's exactly what happened yesterday. Casinos in both ...