White Lake hack gives muni market reason to address cyber threats

When White Lake Township, Michigan, disclosed a hack of its bond closing last year, it signaled a need for the municipal bond market to implement better practices to secure financings. Experts and market participants say the White Lake hack was a sign of broader troubles for the market.

The Bond Buyer’s Texas Public Finance 2025 conference is open for registration. Take advantage of advance rates for the April event in Austin.

Southwest municipal bond issuance climbed 23% last year led again by Texas, where debt sales accounted for nearly 70.4% of the region's volume. "The population growth and generally strong economy across the Sunbelt states in the Southwest have continued to drive the need for infrastructure investment," Dan Hartman, CEO of PFM Financial Advisors, said in an email.

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Puerto Rico Electric Power Authority bondholders opposed to the Oversight Board’s proposed restructuring filed a motion to lift the bankruptcy’s litigation stay, which could lead to their appointing a receiver for PREPA. In the aftermath of the First Circuit Court of Appeal’s decision in favor of the bondholders’ lien on net revenues this past year, continuation of the stay order is impermissible, they said. The court is required to lift the bankruptcy’s stay on litigation given the bondholders lack of “adequate protection” on their lien rights, according to the bondholders

Watch what the municipal bond industry’s innovators and influencers are saying in our Leaders series of video interviews. Check out our lineup of future live interviews and archived conversations.

Bond lawyers want to make sure their voices are heard as Congress moves toward critical votes on tax policy that threaten the end of the municipal bond tax exemption.

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