AIS, a professional services and technology firm providing quality back-office talent and automation, is pleased to announce the hiring of Saurabh Jhingan as its new Vice President of Enterprise Risk Management.

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In a 5 to 4 ruling, the U.S. Supreme Court today overturned a settlement in the Purdue Pharma bankruptcy case that would release members of the Sackler family from liability for their alleged role in the national opioid epidemic.

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In a 7-2 decision, the U.S. Supreme Court upheld the mechanism for funding the Consumer Financial Protection Bureau (CFPB). The stakes were high for the CFPB, which had said that an adverse decision would threaten “the validity of virtually all CFPB past actions.”

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Bankruptcy filings continued the upward spiral begun last year with 16.28 percent more filings in May compared to the same month in 2023. With 44,981 bankruptcy petitions filed, the May increase follows a similar trend from last year when filings rose by approximately 17 percent. For the first half of 2024, total bankruptcy filings are up by 17.29 percent.

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In April 2024, total bankruptcy filings reached 45,608, marking a surge of 28.5 percent compared to April 2023. The significant uptick persisted even after adjusting for two extra weekdays this year, with filings increasing by over 20 percent. This growth exceeds last year's increase of 17.6 percent, indicating a consistent upward trend in 2024.

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March saw a noticeable slowdown in the frantic pace of bankruptcy filings. Total bankruptcy filings in March increased by 4.88 percent compared to the same month in 2023. This rise is modest when juxtaposed with the 22.32 percent year-over-year surge in February, and the 17.6 percent overall increase observed throughout the previous year.

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