Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Business law (2)
- Affidavit judgment (1)
- As is (1)
- Bankruptcy (1)
- Bonds (1)
-
- Consumer debt (1)
- Consumer law (1)
- Consumers (1)
- Credit card (1)
- Creditors (1)
- Data integrity (1)
- Debt buyer (1)
- Default judgment (1)
- Disclaimer (1)
- District Court (1)
- Due process (1)
- Financial crisis (1)
- Financial institutions (1)
- Forgery (1)
- Forward Flow Agreements (1)
- Fraud on the court (1)
- Global capital markets (1)
- Junk debt (1)
- Legal ethics (1)
- Maryland (1)
- Pennies on the dollar (1)
- Pro se (1)
- Professional responsibility (1)
- Purchase and Sale Agreements (1)
- Purchased debts (1)
- Publication
Articles 1 - 4 of 4
Full-Text Articles in Law
Business Law Bulletin, Fall 2014
Debt-Buyer Lawsuits And Inaccurate Data, Peter A. Holland
Debt-Buyer Lawsuits And Inaccurate Data, Peter A. Holland
Faculty Scholarship
Pursuant to secret purchase and sale agreements (also known as forward flow agreements), the accounts that banks sell to debt buyers are often sold “as is,” with explicit and emphatic disclaimers that the debts may not be owed, the amounts claimed may not be accurate, and documentation may be missing. Despite their full knowledge that the accuracy and completeness of the data has been specifically disclaimed by the bank, when they sue consumers, debt buyers tell courts that the information obtained from the bank is inherently reliable and accurate. In order to avoid a fraud on the courts, the contents …
Incentivizing Credit Rating Agencies Under The Issuer Pay Model Through A Mandatory Compensation Competition, Robert J. Rhee
Incentivizing Credit Rating Agencies Under The Issuer Pay Model Through A Mandatory Compensation Competition, Robert J. Rhee
Faculty Scholarship
Credit rating agencies are important institutions of the global capital markets. If they had performed properly, the financial crisis of 2008-2009 would not have occurred. This article offers the simplest fix proposed thus far, and it is contrarian. This Article accepts the central role of rating agencies in the regulation of bond investments, the realities of a duopoly, and the issuer-pay model of compensation. The status quo is the baseline. The role of regulation should be to create the conditions necessary to induce competition. This article proposes that a small, recurring portion of revenue earned by the largest rating agencies …