Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
International Banking Secrecy: Developments In Europe Prompt New Approaches, Richard J. Gagnon Jr.
International Banking Secrecy: Developments In Europe Prompt New Approaches, Richard J. Gagnon Jr.
Vanderbilt Journal of Transnational Law
The frequent connection between banking secrecy and various corrupt political and business practices has drawn considerable attention from non-secrecy states. In Europe, the issue presently is ripe because of the European Community's plans for a unified economy in 1992. This Note begins with a moral and historical examination of banking secrecy. Then, the author reveals the banking practices and legal structures through which banking secrecy is exploited. The author next sets forth the substantive banking secrecy laws of four European states and attempts to surmise the direction of their policies regarding banking secrecy. Next, the author describes past attempts, both …
The European Community's Second Banking Directive: Can Antiquated United States Legislation Keep Pace?, Christopher T. Toll
The European Community's Second Banking Directive: Can Antiquated United States Legislation Keep Pace?, Christopher T. Toll
Vanderbilt Journal of Transnational Law
The European Community recently adopted the Second Banking Directive, which will lead to liberalized banking regulation throughout the Member States. Community banks will engage in a broad range of activities including commercial lending, selling securities, and issuing insurance. This broad range of activities will allow Community banks to compete more efficiently in global markets. In contrast, the strict regulatory structure of the United States includes the Glass-Steagall Act, which separates investment banking and commercial banking. This separation creates inefficiencies that reduce the competitiveness of United States banks in both international and United States markets. These inefficiencies are highlighted by the …