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Comment Of Professor Patricia A. Mccoy On Docket No. Cfpb-2019-0039, Patricia A. Mccoy Sep 2019

Comment Of Professor Patricia A. Mccoy On Docket No. Cfpb-2019-0039, Patricia A. Mccoy

Boston College Law School Faculty Papers

In this comment letter, Professor McCoy responds to the Advance Notice of Proposed Rulemaking on Qualified Mortgages issued by the Consumer Financial Protection Bureau.


Inside Job: The Assault On The Structure Of The Consumer Financial Protection Bureau, Patricia A. Mccoy Jun 2019

Inside Job: The Assault On The Structure Of The Consumer Financial Protection Bureau, Patricia A. Mccoy

Boston College Law School Faculty Papers

Soon after the 2016 election of Donald Trump as President of the United States, while Republicans controlled Congress, opponents of the fledgling Consumer Financial Protection Bureau (CFPB) opened a campaign against the Bureau. Their target was less the substance of federal consumer financial protection laws than the structure of the CFPB itself. This emphasis on structure was a response to the fact that Congress in 2010 had given special thought to the design of the CFPB to safeguard the Bureau and its mission.

In 2017, after legislation to weaken the Bureau’s structure failed in Congress and constitutional challenges to ...


Comment Of Legal Scholars On Authority To Require Supervision And Regulation Of Certain Nonbank Financial Companies, Financial Stability Oversight Council Rin 4030-Aa00, Daniel Schwarcz, Patricia A. Mccoy, Jeremy Kress May 2019

Comment Of Legal Scholars On Authority To Require Supervision And Regulation Of Certain Nonbank Financial Companies, Financial Stability Oversight Council Rin 4030-Aa00, Daniel Schwarcz, Patricia A. Mccoy, Jeremy Kress

Boston College Law School Faculty Papers

Professor McCoy coauthored this comment on a proposal by the Financial Stability Oversight Council to overhaul systemic risk regulation for nonbank financial firms.


The Rise Of The Working Class Shareholder: An Application, An Extension And A Challenge, Kent Greenfield Jan 2019

The Rise Of The Working Class Shareholder: An Application, An Extension And A Challenge, Kent Greenfield

Boston College Law School Faculty Papers

A review and analysis of David Webber's book The Rise of the Working Class Shareholder, with ideas on how to extend his points, and a challenge to one of his underlying assumptions with regard to the impact of Citizens United v Federal Election Commission.


Comment Of Legal Scholars On Occ's Community Reinvestment Act Anpr (Docket Id Occ-2018-0008), Vincent Rougeau, Patricia A. Mccoy Nov 2018

Comment Of Legal Scholars On Occ's Community Reinvestment Act Anpr (Docket Id Occ-2018-0008), Vincent Rougeau, Patricia A. Mccoy

Boston College Law School Faculty Papers

Comment submitted to the federal government on a proposal to revise the rule implementing the Community Reinvestment Act.


Complementary Macroprudential Regulation Of Nonbank Entities And Activities, Patricia A. Mccoy, Daniel Schwarcz, Jeremy Kress Sep 2018

Complementary Macroprudential Regulation Of Nonbank Entities And Activities, Patricia A. Mccoy, Daniel Schwarcz, Jeremy Kress

Boston College Law School Faculty Papers

In this blog entry, the authors describe their forthcoming law review article in Southern California Law Review.


Rethinking International Investment Governance: Principles For The 21st Century, Frank J. Garcia, Emma Aisbett, Bernali Choudhury, Olivier De Schutter, James Harrison, Song Hong, Lise Johnson, Mouhamadou Kane, Santiago Peña, Mattew Porterfield, Susan Sell, Stephen E. Shay, Louis T. Wells Aug 2018

Rethinking International Investment Governance: Principles For The 21st Century, Frank J. Garcia, Emma Aisbett, Bernali Choudhury, Olivier De Schutter, James Harrison, Song Hong, Lise Johnson, Mouhamadou Kane, Santiago Peña, Mattew Porterfield, Susan Sell, Stephen E. Shay, Louis T. Wells

Boston College Law School Faculty Papers

Rethinking International Investment Governance: Principles for the 21st Century - written over the course of a week by a distinguished group of experts in international economic governance using the Booksprint process - aims to serve as a practical resource for those interested in the elements of an international investment system that promotes sustainable development and achieves legitimacy by providing benefits to all stakeholders.

The objective of Rethinking International Investment Governance is to change the terms of the debate so that societal values and goals are at the center of discussions about each reform proposal and process. This book rethinks international investment law ...


Response Regarding The Bureau’S Consumer Complaint And Consumer Inquiry Handling Processes (Docket No. Cfpb-2018-0014), Kathleen Engel, Mary Spector, Financial Regulation And Consumer Protection Scholars And Former Regulators Jul 2018

Response Regarding The Bureau’S Consumer Complaint And Consumer Inquiry Handling Processes (Docket No. Cfpb-2018-0014), Kathleen Engel, Mary Spector, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should change its processes for dealing with consumer complaints and consumer inquiries.


Response Regarding Bureau Financial Education Programs (Docket No. Cfpb-2018-0015), Carly Urban, J. Michael Collins, Stephanie Moulton, Financial Regulation And Consumer Protection Scholars And Former Regulators Jul 2018

Response Regarding Bureau Financial Education Programs (Docket No. Cfpb-2018-0015), Carly Urban, J. Michael Collins, Stephanie Moulton, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should continue its financial education programs.


Response Regarding Bureau Guidance And Implementation Support (Docket No. Cfpb-2018-0013), Adam J. Levitin, Financial Regulation And Consumer Protection Scholars And Former Regulators Jul 2018

Response Regarding Bureau Guidance And Implementation Support (Docket No. Cfpb-2018-0013), Adam J. Levitin, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should continue its programs offering formal and informal guidance and implementation support.


Response Regarding Inherited Regulations And Inherited Rulemaking Authorities (Docket No. Cfpb-2018-0012), Kathleen Engel, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Inherited Regulations And Inherited Rulemaking Authorities (Docket No. Cfpb-2018-0012), Kathleen Engel, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response offering comment on the Consumer Federal Protection Bureau's inherited regulations and inherited rulemaking authorities.


Response Regarding Adopted Regulations (Docket No. Cfpb-2018-0011), Patricia Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Adopted Regulations (Docket No. Cfpb-2018-0011), Patricia Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response offering comment on the Consumer Federal Protection Bureau's adopted regulations and new rulemaking authorities.


Response Regarding Bureau Rulemaking Processes (Docket No. Cfpb-2018-0009), Patricia A. Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Bureau Rulemaking Processes (Docket No. Cfpb-2018-0009), Patricia A. Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should alter its procedures for adopting new rules to protect consumers.


Response Regarding Bureau Public Reporting Practices Of Consumer Complaint Information (Docket No. Cfpb-2018-0006), Pamela Foohey, Angela K. Littwin, Amy J. Schmitz, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Bureau Public Reporting Practices Of Consumer Complaint Information (Docket No. Cfpb-2018-0006), Pamela Foohey, Angela K. Littwin, Amy J. Schmitz, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should take down its consumer complaint database.


Response Regarding Bureau Enforcement Processes (Docket No. Cfpb-2018-0003), Christopher L. Peterson, Financial Regulation And Consumer Protection Scholars And Former Regulators May 2018

Response Regarding Bureau Enforcement Processes (Docket No. Cfpb-2018-0003), Christopher L. Peterson, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should stop taking enforcement actions against companies and people who violate the consumer financial protection laws.


Comment On The Draft Report Of The Icca/Queen Mary Task Force On Third Party Funding In International Arbitration, Frank J. Garcia Apr 2018

Comment On The Draft Report Of The Icca/Queen Mary Task Force On Third Party Funding In International Arbitration, Frank J. Garcia

Boston College Law School Faculty Papers

No abstract provided.


The Case For An Eu Protagonist Role On Third Party Funding Regulation, Munia El Harti Alonso Apr 2018

The Case For An Eu Protagonist Role On Third Party Funding Regulation, Munia El Harti Alonso

Law and Justice in the Americas Working Paper Series

The Lisbon Treaty has enlarged the EU’s competences in external investment policy. The EU could thus increase its protagonist role in third-party funding (TPF) regulation in a manner analogous to its achievements in the investment regime, where the EU managed to rally the member states behind DG Trade’s vision. A treaty-based analysis combined with a political evaluation suggest the EU is expanding its field of competences either when it has a clear mandate or by establishing a modus vivendi as it has been the case with its external relations, particularly at the United Nations. There is therefore a ...


The Case Against Third-Party Funding In Isds: Executive Summary, Frank J. Garcia, Hyun Ju Cho, Tara Santosuosso, Randall Scarlett, Rachel Denae Thrasher Apr 2018

The Case Against Third-Party Funding In Isds: Executive Summary, Frank J. Garcia, Hyun Ju Cho, Tara Santosuosso, Randall Scarlett, Rachel Denae Thrasher

Boston College Law School Faculty Papers

No abstract provided.


The Regulation Of Third Party Funding: Gathering Data For Future Analysis And Reform, Rachel Denae Thrasher Apr 2018

The Regulation Of Third Party Funding: Gathering Data For Future Analysis And Reform, Rachel Denae Thrasher

Law and Justice in the Americas Working Paper Series

Third-party funding (TPF) is a relatively new phenomenon in the field of international investment arbitration. TPF takes place when a non-party to a dispute provides funding to one of the parties (usually the claimant) in return for a percentage of the amount recovered. International investment arbitration is a unique context, however, because investor-states dispute settlement puts States always in the role of respondent and private investors in the role of claimants. Despite this apparent imbalance, TPF proponents argue, among other things, that it provides much needed access to justice for poorer clients and adds value to the system by providing ...


Third-Party Funding In Investment Arbitration: Misappropriation Of Access To Justice Rhetoric By Global Speculative Finance, Tara Santosuosso, Randall Scarlett Apr 2018

Third-Party Funding In Investment Arbitration: Misappropriation Of Access To Justice Rhetoric By Global Speculative Finance, Tara Santosuosso, Randall Scarlett

Law and Justice in the Americas Working Paper Series

The United Nations Commission on International Trade Law (UNCITRAL) is considering changes to its rules governing international arbitration proceedings. UNCITRAL Working Group III is analyzing possible reforms of the arbitral rules to address the risks associated with the increased prevalence of third-party funded investment arbitration claims. Funders claim that existing regulation is sufficient, arguing in part that funding provides access to justice for impecunious claimants who otherwise would be unable to bring claims. This essay argues that funders’ access to justice reasoning is flawed at best and dangerously misleading at worst. UNCITRAL must take immediate action to address the potential ...


Third-Party Funding As Exploitation Of The Investment Treaty System, Frank J. Garcia Apr 2018

Third-Party Funding As Exploitation Of The Investment Treaty System, Frank J. Garcia

Boston College Law School Faculty Papers

Third-party funding of international investment arbitration is on the rise. Through TPF funders will cover the legal fees of investors filing claims under investment treaties in exchange for a portion of the arbitral award. Proponents of third-party funding claim that it provides access to justice for parties that normally would not have the funds to arbitrate against state actors. Given that the international investment law that governs these claims is unbalanced, and that funding only flows towards investor-claimants, and at the expense of states and their taxpayers, allowing third-party funding in investment arbitration risks creating unjustifiable wealth transfers from the ...


Leak-Driven Law, Shu-Yi Oei, Diane M. Ring Apr 2018

Leak-Driven Law, Shu-Yi Oei, Diane M. Ring

Boston College Law School Faculty Papers

Over the past decade, a number of well-publicized data leaks have revealed the secret offshore holdings of high-net-worth individuals and multinational taxpayers, leading to a sea change in cross-border tax enforcement. Spurred by leaked data, tax authorities have prosecuted offshore tax cheats, attempted to recoup lost revenues, enacted new laws, and signed international agreements that promote “sunshine” and exchange of financial information between countries.

The conventional wisdom is that data leaks enable tax authorities to detect and punish offshore tax evasion more effectively, and that leaks are therefore socially and economically beneficial. This Article argues, however, that the conventional wisdom ...


Brief Of Amici Curiae Consumer Financial Regulation Scholars In Support Of Plaintiff-Appellant, English V. Trump, No. 18-5007 (D.C. Cir.), Patricia A. Mccoy Feb 2018

Brief Of Amici Curiae Consumer Financial Regulation Scholars In Support Of Plaintiff-Appellant, English V. Trump, No. 18-5007 (D.C. Cir.), Patricia A. Mccoy

Boston College Law School Faculty Papers

No abstract provided.


Constraining And Channeling Corporate Political Power In Trump’S America, Kent Greenfield Jan 2018

Constraining And Channeling Corporate Political Power In Trump’S America, Kent Greenfield

Boston College Law School Faculty Papers

This chapter explores answers to the policy problems created by Citizens United, focusing on the possibility of using corporate governance to transform corporations into positive players in the public space.


Brief Of Amici Curiae Finance Regulation Scholars In Support Of Plaintiff's Motion For A Preliminary Injunction In English V. Trump, Patricia A. Mccoy Dec 2017

Brief Of Amici Curiae Finance Regulation Scholars In Support Of Plaintiff's Motion For A Preliminary Injunction In English V. Trump, Patricia A. Mccoy

Boston College Law School Faculty Papers

Professor McCoy was the lead author of an amicus brief in support of the lawsuit by CFPB Deputy Director Leandra English against the Trump Administration, asserting that she lawfully became the Acting Director of the Consumer Financial Protection Bureau under the Dodd-Frank Act.


The Unicorn Governance Trap, Renee M. Jones Dec 2017

The Unicorn Governance Trap, Renee M. Jones

Boston College Law School Faculty Papers

The recent trend of large-scale start-up companies delaying an IPO creates a new kind of corporate governance problem. The prevalence of “unicorns” – privately held companies with market valuations of $1 billion or more – means the disciplinary mechanisms on which investors traditionally relied no longer function to prevent misconduct or mismanagement by unicorn founders. High profile frauds by unicorns like Zenefits and Theranos, and the recent travails of Uber highlight the need to rethink unicorn governance structure. These burgeoning controversies call for reconsideration of legal reforms that allow unicorns to remain for protracted periods in an ill-defined limbo between private and ...


Tpf And Isds: A Public Comment On The Draft Report Of The Icca/Queen Mary Task Force On Third Party Funding In International Arbitration, Frank J. Garcia, Leo Gargne, Eric De Brabandere, Rachel Denae Thrasher, William Park Oct 2017

Tpf And Isds: A Public Comment On The Draft Report Of The Icca/Queen Mary Task Force On Third Party Funding In International Arbitration, Frank J. Garcia, Leo Gargne, Eric De Brabandere, Rachel Denae Thrasher, William Park

Law and Justice in the Americas Working Paper Series

Transcription of a panel at the conference "Reforming International Investment Law: Opportunities, Challenges, Paradigms", sponsored by Boston College Law School and the Pontifical Catholic University of Chile. This transcription was presented in April 2018 as a public comment on the Draft Report of the ICCA/Queen Mary Task Force on Third Party Funding in International Arbitration.


Why Cyclicality Matters To Access To Mortgage Credit, Patricia A. Mccoy, Susan M. Wachter May 2017

Why Cyclicality Matters To Access To Mortgage Credit, Patricia A. Mccoy, Susan M. Wachter

Boston College Law School Faculty Papers

Virtually no attention has been paid to the problem of cyclicality in debates over access to mortgage credit, despite its importance as a driver of tight credit. Housing markets are prone to booms accompanied by bubbles in mortgage credit in which lenders cut underwriting standards, leading to elevated loan defaults. During downturns, these cycles artificially impede access to mortgage credit for underserved communities. During upswings, these cycles make homeownership unnecessarily precarious for many who attain it. This volatility exacerbates wealth and income disparities by ethnicity and race. The boom-bust cycle must be addressed in order to assure healthy and sustainable ...


Has The Mortgage Pendulum Swung Too Far? Reviving Access To Mortgage Credit, Patricia A. Mccoy May 2017

Has The Mortgage Pendulum Swung Too Far? Reviving Access To Mortgage Credit, Patricia A. Mccoy

Boston College Law School Faculty Papers

In the wake of the financial crisis, mortgage lending to lower-income and minority borrowers overcorrected and has not recovered. Although homeownership is a riskier investment than previously realized, still it remains a proven path to increased wealth on balance for lower-income households. There are a number of reasonable reforms that could achieve greater access to credit while containing default risk. These include strategies to reduce down payments safely and to keep monthly payments manageable, combined with fixed-rate loans. Prepurchase counseling is important to preparing applicants for the financial demands of homeownership and strengthening their credit histories, while rapid foreclosure prevention ...


Investment Treaties Are About Justice, Frank J. Garcia Oct 2016

Investment Treaties Are About Justice, Frank J. Garcia

Boston College Law School Faculty Papers

This Perspective argues that investment law is ripe for a paradigm shift away from pure capital protection. Rather, investment law should be recognized as part of a comprehensive global economic governance system for ensuring justice and the rule of law, in this case in the allocation of investment capital.