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Full-Text Articles in Law

Access To Mortgage Credit 2.0, Patricia Mccoy Dec 2015

Access To Mortgage Credit 2.0, Patricia Mccoy

Patricia A. McCoy

Panel at the Association of American Law Schools 2016 Annual Meeting. At the same meeting, Professor McCoy participated in the panel Countercyclical Regulation and Its Challenges.


Climate Change And Insurance, Patricia Mccoy Dec 2015

Climate Change And Insurance, Patricia Mccoy

Patricia A. McCoy

Professor McCoy presented this lecture to the Insurance Law Section of the Boston Bar Association.


Panelist, Who Will Pay: The Public & Private Insurance Implications Of Climate Change's Drastic Challenges, Patricia Mccoy Nov 2015

Panelist, Who Will Pay: The Public & Private Insurance Implications Of Climate Change's Drastic Challenges, Patricia Mccoy

Patricia A. McCoy

Professor McCoy helped organize this conference and appeared as a panel commentator on three scholarly papers.


Market Conduct Regulation And Regulating By Risk, Patricia Mccoy Oct 2015

Market Conduct Regulation And Regulating By Risk, Patricia Mccoy

Patricia A. McCoy

Panel at the November 2015 Tulane Law Review Symposium.


Panelist, Best Practices In Consumer Disclosures Oct 2015

Panelist, Best Practices In Consumer Disclosures

Patricia A. McCoy

No abstract provided.


Founding Principles Of The Consumer Financial Protection Bureau Sep 2015

Founding Principles Of The Consumer Financial Protection Bureau

Patricia A. McCoy

No abstract provided.


Panelist, What Will Be The Effect Of The Department Of Labor’S Fiduciary Rule?, Patricia Mccoy Sep 2015

Panelist, What Will Be The Effect Of The Department Of Labor’S Fiduciary Rule?, Patricia Mccoy

Patricia A. McCoy

Panel at the 8th Annual Roundtable on Investment Funds at Boston University.


The Affordable Care Act After King V. Burwell: What's Next?, Patricia Mccoy Aug 2015

The Affordable Care Act After King V. Burwell: What's Next?, Patricia Mccoy

Patricia A. McCoy

Professor McCoy presented on the challenges and results of implementing the Affordable Care Act five years after the law's enactment, and discussed its long-term viability in the face of continuing challenges in the courts, Congress and presidential politics.


The Ephemeral Promise Of Annuitization For A Secure Retirement May 2015

The Ephemeral Promise Of Annuitization For A Secure Retirement

Patricia A. McCoy

No abstract provided.


Saving For Homeownership May 2015

Saving For Homeownership

Patricia A. McCoy

No abstract provided.


Testimony Before Federal Banking Regulators On Regulatory Relief, Patricia Mccoy May 2015

Testimony Before Federal Banking Regulators On Regulatory Relief, Patricia Mccoy

Patricia A. McCoy

In this testimony before the Federal Reserve Board that was live-streamed nationally, Professor McCoy evaluated the need for regulatory relief in federal consumer protection laws. She will later file written testimony.


The Aca: What Does It Really Do? Apr 2015

The Aca: What Does It Really Do?

Patricia A. McCoy

No abstract provided.


Degrees Of Intermediation Mar 2015

Degrees Of Intermediation

Patricia A. McCoy

No abstract provided.


Banking Law Manual: Federal Regulation Of Financial Holding Companies, Banks And Thrifts (Semi-Annual Supplement) Dec 2014

Banking Law Manual: Federal Regulation Of Financial Holding Companies, Banks And Thrifts (Semi-Annual Supplement)

Patricia A. McCoy

No abstract provided.


Moderator, Regulation: Systemically Important Financial Institution (Sifi) Designations Dec 2014

Moderator, Regulation: Systemically Important Financial Institution (Sifi) Designations

Patricia A. McCoy

Moderated a roundtable discussion on proposals to subject the asset management industry to systemic risk oversight.


The Home Mortgage Foreclosure Crisis: Lessons Learned Oct 2014

The Home Mortgage Foreclosure Crisis: Lessons Learned

Patricia A. McCoy

Presentation of book chapter which explores the lessons learned from the nation's home mortgage loss mitigation initiatives.


Systemic Risk Oversight And The Shifting Balance Of State And Federal Authority Over Insurance Sep 2014

Systemic Risk Oversight And The Shifting Balance Of State And Federal Authority Over Insurance

Patricia A. McCoy

The presentation explored the implications of systemic risk regulation for the allocation of authority for state and federal insurance regulation.


Countercyclical Regulation And Its Challenges Jun 2014

Countercyclical Regulation And Its Challenges

Patricia A. McCoy

The paper presented examines legal and institutional challenges to implementing countercyclical regulation in financial services. Also presented in June 2014 at a Suffolk University Law School Faculty Workshop in Boston, MA.


“The Protective Function Of Automobile Insurance From The Perspective Of Judicial Adjudication May 2014

“The Protective Function Of Automobile Insurance From The Perspective Of Judicial Adjudication

Patricia A. McCoy

This talk explored the social tensions between making mandatory auto insurance affordable and the solvency of those insurance plans.


Moderator, Big Data And The Paradigm Of Insurance Apr 2014

Moderator, Big Data And The Paradigm Of Insurance

Patricia A. McCoy

Moderated a panel on the theoretical paradigm of big data and insurance.


Rethinking Disclosure In A World Of Risk-Based Pricing, Patricia Mccoy Mar 2014

Rethinking Disclosure In A World Of Risk-Based Pricing, Patricia Mccoy

Patricia A. McCoy

In response to subprime loan abuses, it is common for policymakers to exhort consumers to comparison-shop for residential mortgages. This policy prescription ignores the fact that price revelation works differently in the prime and subprime markets, impeding search in subprime. In the prime market, lenders reveal firm prices for free, without requiring consumers to first submit loan applications. This dynamic, combined with Truth-in-Lending Act (TILA) disclosures that standardize prices, make it easy to comparison-shop for prime mortgages. In contrast, in the subprime market featuring risk-based pricing, consumers must reveal their creditworthiness before lenders can determine loan prices, which allows lenders ...


Turning A Blind Eye: Wall Street Finance Of Predatory Lending, Kathleen Engel, Patricia Mccoy Mar 2014

Turning A Blind Eye: Wall Street Finance Of Predatory Lending, Kathleen Engel, Patricia Mccoy

Patricia A. McCoy

No abstract provided.


A Tale Of Three Markets: The Law And Economics Of Predatory Lending, Kathleen Engel, Patricia Mccoy Mar 2014

A Tale Of Three Markets: The Law And Economics Of Predatory Lending, Kathleen Engel, Patricia Mccoy

Patricia A. McCoy

Predatory lending - the practice of making exploitative high-cost loans to naive borrowers - has spurred policy-makers, activists, lenders and scholars to debate whether intervention is warranted and, if so, what type of intervention is appropriate. The solution requires understanding the incentives in the home mortgage market that have fueled predatory lending. Recent changes in the credit market have created new possibilities for lenders to profit by exploiting information asymmetries to the detriment of unsophisticated borrowers. As a result, a new, predatory lending market has emerged alongside the legitimate prime and subprime home mortgage markets. Neither market forces nor existing legal remedies ...


Turning A Blind Eye: Wall Street Finance Of Predatory Lending, Kathleen Engel, Patricia Mccoy Mar 2014

Turning A Blind Eye: Wall Street Finance Of Predatory Lending, Kathleen Engel, Patricia Mccoy

Patricia A. McCoy

Today, Wall Street finances up to eighty percent of subprime home loans through securitization. The subprime sector, which is designed for borrowers with blemished credit, has been dogged by predatory lending charges, many of which have been substantiated. As subprime securitization has grown, so have charges that securitization turns a blind eye to financing abusive loans. In this paper, we examine why secondary market discipline has failed to halt the securitization of predatory loans.

When investors buy securities backed by predatory loans, they face a classic lemons problem in the form of credit risk, prepayment risk, and litigation risk. Securitization ...


The Cra Implications Of Predatory Lending, Kathleen Engel, Patricia Mccoy Mar 2014

The Cra Implications Of Predatory Lending, Kathleen Engel, Patricia Mccoy

Patricia A. McCoy

This article considers the Community Reinvestment Act's role in combating predatory lending. It provides an overview of the CRA, explains how CRA-covered lenders may enable predatory lending and explores the relationship between the CRA, federal subsidies and predatory lending. The article concludes that the CRA should be used to penalize lenders that engage in predatory lending and recommends that federal bank regulators use CRA to sanction behavior that could encourage further predatory lending.


The Cra Implications Of Predatory Lending, Kathleen Engel, Patricia Mccoy Mar 2014

The Cra Implications Of Predatory Lending, Kathleen Engel, Patricia Mccoy

Patricia A. McCoy

Traditionally, policymakers, communities, and industry have regarded the Community Reinvestment Act ("CRA") as a positive mandate for banks and thrifts to do good by increasing investment in low- and moderate-income ("LMI") neighborhoods. When Congress enacted CRA, it was inconceivable that LMI neighborhoods might eventually receive too much credit in the form of abusive mortgages. However, by the late 1990s, predatory mortgages- exploitative high-cost loans to gullible borrowers-were ravaging the inner cities. We address the question: given the surge in predatory lending, how should CRA respond? CRA and federal subsidies to regulated lenders can create perverse incentives for lenders to engage ...


The Home Mortgage Disclosure Act: A Synopsis And Recent Legislative History Dec 2006

The Home Mortgage Disclosure Act: A Synopsis And Recent Legislative History

Patricia A. McCoy

This article describes the provisions of the federal Home Mortgage Disclosure Act (HMDA), tracing its legal evolution since 1989, when Congress expanded HMDA to require reporting of home mortgage lending by ethnicity and race. HMDA requires most lenders to report the demographic makeup and geographic distribution of home mortgages to the federal government. The 1989 amendments and later developments transformed HMDA from a law exclusively concerned with geographic disinvestment to one concerned with lending disparities by ethnicity and race. In the process, HMDA evolved from an obscure reporting statute to a flashpoint for debates over lending discrimination and subprime lending.


Predatory Lending: What’S Wall Street Got To Do With It?, Dec 2003

Predatory Lending: What’S Wall Street Got To Do With It?,

Patricia A. McCoy

In this article, we examine the contention that the secondary market will exert sufficient market discipline to drive predatory home loan lenders from the subprime marketplace. Using a so‐called lemons model, we identify the potential risks that investors encounter if they buy securities backed by predatory home loans. We then explain how structured finance, deal provisions, pricing mechanisms, and legal protections shield investors from much of the risk that those loans entail.

While the secondary market does impose some discipline on the subprime home loan market, it is not enough to bring predatory lending to a halt. We provide ...


The Demise Of The Common-Law Doctrine In D'Oench, Duhme Dec 1997

The Demise Of The Common-Law Doctrine In D'Oench, Duhme

Patricia A. McCoy

No abstract provided.


Footprints Of A Just Man: The Case Law Of Judge Robert S. Vance Dec 1990

Footprints Of A Just Man: The Case Law Of Judge Robert S. Vance

Patricia A. McCoy

No abstract provided.